With CAT breaking down and housing related stocks taking a breather, I am exploring a short sale in TEX.
My other idea is PBR. I don’t like oil here and hate Brasil. The hardest part shorting oil stocks is to find one that cannot be bought out. They are strategically important assets. PBR will not be acquired and they suck wind, just like their host nation.
As of right now, I don’t have a position in either name.
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PBR going sub-14 very soon. Brazil weak on the whole but PBR is a toy of incompetent bureaucrats who will invariably fuck it up even worse than it is. Plus, they can’t find oil to save their lives. That is the upside risk – they actually successfully tap a huge reserve in the Santos Basin or others.
I bet against the indigenous nation of Brasil every time.
BZQ 🙂
Agree, PBR is a state owned company packed with corrupt politicians and used by the left-wing government as a tool for electoral purposes.
The only caveat is that since it’s state-owned, the downside will be limited – the brazilian taxpayer will end up paying the tab – and it will never go bankrupt.
Short everything Brazil-related after the Oct/2014 (world cup and elections).
Not a fan of shorting a single stock, prefer inverse ETFs…
slippage
$MTW is falling into the abyss
fly,very good call on Silver.
Glad I got out but… I did get
my butt kicked.
It’s a good short
Speaking of Brazil….VALE just gave up support. Going to $15 and change in a hurry now.