Tuesday, November 16, 2010

Bookkeeping: Stopped Out of Gafisa (GFA)

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


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