Tuesday, November 16, 2010

Bookkeeping: Stopped Out of Gafisa (GFA)

TweetThis
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.

No position


x

Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012 FundMyMutualFund.com