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BBVA Banco Francés S.A. Message Board

  • dasamaru40 dasamaru40 Aug 14, 2013 2:58 PM Flag

    elections this past weekend in Argentina

    Clearly, the voters have passed judgment on the government of CFK, and volume and prices of equities have moved sharply higher. Institutions and large investors abandoned the stock market in Argentina some time ago; however, for individuals like ourselves , it was the time to pounce on Monday and Tuesday with the shares continuing to rise on beautiful volume on Wednesday. The major issues, like BFR, GGAL, BMA, IRS and other issues on the Global X Argentine index have picked-up volume and an improved sentiment. There is little likelihood that CFK will have enough votes in the Congress of Argentina to change the constitution so that she can return to office for another term in 2015. The response on the Bolsa De Comercio was immediate and similar to the response when Nestor passed away . We should now witness more fast action in these Argentine issues and volatility as the October election draws nearer and CFK's days in the Casa Rosada are numbered. I found it interesting that no news about the Argentine election appeared in the previous three issues on the Financial Times ; ditto, for the New York Times. However, I bulked-up on Monday after reading the analysis of the election in the Wall Street Journal. My surmise is that institutions and large investors are still pondering the proper response to the outcome of this election, and are just now forming committees to argue over a course of action. The Argentine stock market is offering individuals plenty of fast action and this situation is very likely to continue for some time. Both trading and a buy-and hold strategy should should result in some very tidy capital gains.

20.00-0.27(-1.33%)Jul 28 4:00 PMEDT