I see no reason not to buy this pullback in [[EWZ]]. There seems to be strong support at $85.00, and the 50 day average is at $82.53
Canada [[EWC]] printed a bullish hammer today, and filled a recent gap. Seems like a good place to buy some.
I’m trying not to consider the fundamental backdrop and just concentrate on the technicals. Don’t mess with my fantasies.
VMI has a nice pullback to the break-out/support level.
Wood,
You used a double negative, “I see no reason not to buy this pullback”…just saying.
I like Brazil also. Not only for the hot women, but the fact that the country has stuff going for it. EWZ is good.
Also check out CPL, BTM and CIG for good div payers with growth potential. And of course, the usual suspects, PBR, SID and RIO.
Alpha, are you sure that is a double negative?
I’ll look at those names. I bought Canada on the open. I’m still waiting to see if Brazil doesn’t get cheaper.
Maybe not a double negative. I just thought it was awkward sentence construction. Better check with Jake “The English Professor” Gint.
lol @ Alpha. I agree it was poorly constructed!
While “I see reason to buy this pullback,” is simpler here and conveys largely the same meaning as the (technical) double negative, one could argue that “see no reason not” conveys a particular emphasis not contained in the simpler version.
So it gets a pass, I guess.
OK, this is a late comment but, I’ve been bullish on EWZ for a while now.
Any commodity oriented country that has it’s financial head together is going to be sitting well for for the next five-twenty years.
That’s asking a lot of Brazil, which still struggles with an impulse towards raw socialism, and towards screwing around with it’s money supply. It will blow up again, no fear.