Gafisa S.A. Message Board
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I pulled the plug this morning.
I'm not sure if I'm in any hurry to get back in right now. GFA management continues to do what is needed, so I will keep watching. The technical picture continues to look ok also.
Here's what's concerning me:
1. World markets are way past overdue for a correction. Too much euphoria. Of course, overbought markets can remain overbought for long periods of time.
2. $BVSP sliced through its 50dma yesterday. Maybe a headfake. Maybe.
3. Banco Central declared last week it is done with interest rate hikes.
4. Italian and Spanish bonds showing possible initial signs of trouble. I think I saw a headline last week about the European crisis being over - sounds a bit too familiar.
5. USD overdue for a bit of upside.
GLTA-
Aco...stick around for the miracle. The buyout offer from the sharks last Spring was $6.50, and it wasn't even profitable back then. I've watched the "scaredy-cat" trading pattern in this stock. You buy it when you're frustrated; and ignore it when you're euphoric. Traders are constantly trying to throw bulls off this stock. Just follow the slow stochastic. Every time it goes under 10-20, buy more.
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Ace Brasil !!! Way to Go Champ !! You sold just when the company is turning the corner, and the economy in Brazil is starting to heat up. Everybody give ACE a "Golf Clap" for selling his stock yesterday, before the move up. And for coming to this board to try and HELP (ahem) us all out with his words of wisdom! Bwahahaha Bwhahaha
- 1 Reply to wallstreet_pro
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Euphoric taunting on a Yahoo MB. Always a great trading strategy.
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Win some, lose some...
- 1 Reply to aco_brasil0192
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the pre-market volume on the ADR is impressive. lot of room to run here. just saw a 500k block go through. OBV +2.9mm on 3mm pre-market volume.
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and there's another pop. OBV is +137k on 881k volume. stock is under accumulation.
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Brazil eliminated the transfer tax on real estate this morning. BTW, GFA is only 49% correlated to the Bovespa in the near term and 58% over the long term. It's consolidating here IMO.
- 1 Reply to siemprefue
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You mean the tax on foreign investment in real estate funds (FFIs), correct? BVSP spent the day under the 50dma.
Either way, no worries here.Its been a good run.
I'm sticking with cash for the time being.
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