joeschoft, If you are not blind investor, you will know whether "reduction of $15B every year ". Not mention whether PBR can achieve the target by 2016. Further do you know how much price increasing can make pbr profitable again. Whether its pe can support $15 share price?
Any smarter investor will know who is loser, shorter or long like you for pbr this year. Every one will know it from pbr chartn of this year. Most shorters are winners, most long are losers, period!!!
There is just one question, when should shorters cover their short position, how much money shorters can earn. For me I will not cover my short position when pbr is over $15.
pbr has pefect going down chart, newer low is lower than previous low. Every one know pbr very bad quarter earning report is coming!!!! It looks like to me it may be last time for pbr touches $20 in months!!!!
Expense reduction wiped out by fraud and corruption in Brazil. Hostile Judiciary, Politicos wanting tax revvenue, high inflation, labor union trouble, high cost local content demands, massive debt soon going over a hundred billion dollars. One small spill and game over.