In the next few weeks am going to close all my remaining emerging markets outperforms and red-thumb the most high-flying stocks in that category. From now on any outperforms I enter will be US-based. I will make an exception for our staunchest ally, Airstrip One, but this is the only exception I will make. From now and till we hit Dow 14000, I will be US bulls' best friend, and a permabear on all emerging markets, especially China, but other markets as well. That doesn't mean I am going to stay bullish forever. There will be an excellent time in the future to short the crap out of S&P, and/or pick the best stocks from emerging markets' rubble. It's just not the right time for that now. For now, BERNANKE.OB is the bullish trade of the day. Remember, there are no permanent red thumbs and no permanent green thumbs, but there is a permanent profit motive.