I was stopped out of Brazilian home builder Gafisa (GFA) this afternoon. Unfortunately a lot of countries that are healthy are going to have to take steps to combat Ben Bernanke. Brazil is one of them - to slow down the economy and inflation, the rumor mill of raising rates is churning (identical to China) ... and homebuilders don't do well in a rising rate environment.
I'm completely out after making at attempt to get back in on a limit purchase order last week on a "gap fill". The stock bounced smartly the next day, almost a full dollar from my entry but obviously has given it all back. Taking a very small loss. There should be some support down there at the 200 day moving average in the mid $14s.
Tuesday, November 16, 2010
Bookkeeping: Stopped Out of Gafisa (GFA)
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows