A lot of foreign ETFs have yet to recover because of currency trade (EWW, EWZ, TUR, etc), when the currency bounces back, you'll see huge moves in those ETFs. Might be a better opportunity than trying to chase after US equities.
We'll see...
I've always been more fond of trading foreign ETF options than US index ETF options, I find the returns better on both calls and puts.
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One thing about Mexico, they are very reliant on oil (OPEC member), so when oil goes down, so does the peso.
Might be a while before it breaks out, I don;t see oil going anywhere for a few months.