"Brazil is one of the hottest markets on the planet," says international expert Nicholas Vardy. In his The Global Bull Market Alert, he looks to a small cap-focused exchange-traded fund.

"We are betting on Brazil by buying the Market Vectors Brazil Small-Cap ETF (NYSE: BRF).

"Brazil is the flavor of the month in emerging markets. The country recently won the right to host the Olympics in 2016. This will raise its profile much like the Beijing Olympics did for China. 

"Investors are pouring in. Its currency, the real, has gained 50% against the U.S. dollar since December. The economy is firing on all cylinders, posting an 8%-10% growth in Q3. Overall, Brazil’s economy will grow by 5% in 2010.

"With the market already up 76.9% in local currency terms this year, betting on Brazil today is clearly a momentum play. That's also why I am recommending a small cap ETF, which has outperformed its large cap ETF counterpart this year. 

"Brazil's biggest enemy is likely to be its own hubris -- getting too cocky for its own good.

"But before it does, I'm betting the market has further to go. After all, it went up almost 6-fold in dollar terms during its last bull run starting in 2003."