Friday, October 1, 2010

Gafisa (GFA) Gaps Up and Breaks Out

I can't find any specific news for this breakout... unless Hewlett Packard is being rumored to be entering the Brazilian housing market (hey why not?)

Gafisa (GFA) gapped up and now has broken over its recent base - a bit like Las Vegas Sands (LVS) a few weeks ago but with a gap up to boot.  In a benign market this would be one to chase - just very difficult to do so in such an extended market.

If anyone sees any news feel free to drop a comment; it could be an entire sector move of Brazilian homebuilders but since this is the only one to trade in the U.S. difficult to tell.

Long Gafisa and Las Vegas Sands in fund; no personal position


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