Short the Mexico Fund (NYSE:MXF) again. We shorted the shares in March-April and covered our shorts at 34 for a 7% gain. Now the shares are trading at 36.55 for a 10.7% premium to NAV. MXF holds Mexican stocks, with the biggest holdings being American Movil (13%), Fomento (food company 8%), Wal-Mart de Mexico (7%), Alfa Sab De Sv (6%), Grupo Mexico (basic materials 5%). MXF is rated by Morningstar with 3 stars, as it has underperformed the Mexican market.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.