ADR parity is $4.22. Very interesting close on the ADR. It's trading at 97% of the local shares and got bid way down into the close, meanwhile the local was bid up AH on heavy volume. ADR volume into close was average. This suggests local investors are buying and the ADR will open up north of $4.20 in the AM. Although the $IBOV got whacked again today pretty hard. I still contend the $IBOV is making new short term highs after a series of medium term higher lows.