"With the government acting to stimulate the economy through measures such as lower reserve requirements, there may be less room for further rate cuts,” Joao Pedro Brugger, a portfolio manager at Leme Investimentos..."
WTF?!? The lower reserve requirements go along with further rate cuts...haven't been paying attention on Europe mess and Chinese hard landing?
Besides, I expect a further stimulus and lower Taxes for Tenda housing like the one for cars (Ford should be up on this news):
"As part of a stimulus package announced yesterday, the central bank will free as much as 18 billion reais ($8.8 billion) for auto financing. Taxes on vehicles will also fall, and the state development bank will lower interest rates on some loans."
Also check long term debt vs Alphaville's valuation. No Bankruptcy, a few dumb lawsuits here and there, but no BK.
"WTF?!? The lower reserve requirements go along with further rate cuts...haven't been paying attention on Europe mess and Chinese hard landing?"
At least China is paying attention...Brazil is sleeping at the wheel. Historic lows a must.
China: "An interest-rate cut can’t be ruled out if data for May indicate further slowing growth, the China Securities Journal reported today, citing unidentified people. China may keep easing monetary policy, including lowering the reserve-requirement ratio, the newspaper said. The central bank should consider lowering benchmark lending rates or allow more loans at discount rates, according to the report. Interest rates haven’t been cut since 2008."
I owned this POS for about 6 years . Bought at $32 sold @ $44. Bought again @ $36 and more at $20. Then the collapse ... bought at around $5 (pre split) and sold that block at $12. Thought about getting out in the low 30's but stayed in. Then the split. Sold the shares (paid $30 pre split)) I had in my son's trust at $17. Thought hard about selling when Sam Dell pulled out. That was really silly not following hisl lead. Who would know more than him? I think the price was maybe about $14 ? Anyway finally dumped all this crap at $4.50 and put the money in SQNM.. a speculative biotech. What a wild ride , luckiy I had most of my portfolio in silver , which I exited at around $32. Anyway , I don't know how you guys coud keep getting smashed in the mouth by this thing. There has to be more fun ways to blow money than hanging in this loser.
I'd say this is a bit more than mere shaking out of weak hands.....I think much of the damage has been done hence the low volume. Right hand side of the box shows sizable offers - tens of thousands of shares coming out. Wow - down she goes.....