Congratulations to reader “illmighty” for winning a photo finish against two-time champ, “BurgDeBerg,” in correctly guessing the mystery chart from my last post.
As illmighty noted, the chart is the monthly timeframe of Petrobras, the Brazilian energy giant.
But BurgDeBerg gave some great commentary in his narrow defeat.
Here is what Burg had to say:
It’s a $PBR monthly chart in the oil & gas/energy sector. Looks terrible really, but also perhaps oversold and over-hated. Could be strong with investment ramping up in Brazil going into the 2016 Olympics.
What do you think?
Earnings are scheduled for February 14th.
The monthly chart is clearly bearish. But, as Burg notes, perhaps it is so bad that it is good? I would prefer to see more of a washout and perhaps crash in order to look to buy the blood, though.
Also, can Peyton Manning and the Broncos make adjustments and come back in the second half?
Thank you to everyone who played.
I will be back later with ideas for Monday.
But I already gave tight analysis in my latest Weekly Strategy Session published, earlier today. Check it out!
Enjoy the rest of the Super Bowl.
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Good idea, Will Hardy fall much lower then this
Tough night – looks like I’ll ‘narrowly’ miss on my super bowl prediction too (Denver 41-27). Ha!
Seriously, whenever the latest emerging markets taper-driven crisis blows over, $EWZ will be a buy. Not sure what level it will be. Perhaps it needs to revisit its ’08 lows like $PBR has.
re: Payton Manning. After this second half opening…It is Craig Morton time, “turn out the lights, the party’s over”.