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.
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Tuesday, November 16, 2010
Bookkeeping: Stopped Out of Gafisa (GFA)
Posted by
Mark
at
3:58 PM
Bookkeeping: Stopped Out of Gafisa (GFA)
2010-11-16T15:58:00-05:00
Mark
Gafisa|
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Labels: Gafisa
Bookkeeping: Stopped Out of Gafisa (GFA)
2010-11-16T15:58:00-05:00
Mark
Gafisa|
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