Francisco Catalão Rebelo Andrade (born 6 August 1980 in Rio de Janeiro, Brazil) is a Portuguese sailor.[1] He competed at the 2008 and 2012 Summer Olympics in the 49er class, finishing in 11th and 8th place respectively.[2] (wikipedia)
It's recovering a little bit abroad (today). But, the outlook is for more U.S. losses ... so we have space to fall further.
That's all priced in; we hope that the trade data may take the real and the bourse higher this week.
The global atmosphere is still unclear and the local picture is also generating some tensions. The near-term outlook for the market is not good.
The market was really thin throughout the afternoon, with a continuation of profit-taking from yesterday, but then U.S. markets came back and capital flowed in.
Argentina could be the next market to be attacked and since the Argentine market is so close to Brazil, that could bring trouble for us. Brazil still needs foreign financing this year...so we need the flow of foreign funds to continue.
With this change in the mood on Argentina, investors are buying Brazilian stocks almost indiscriminately as everything here is so cheap now.
The main worry short term is the drop in the Nasdaq. The U.S. didn't back up Argentina today, so there's still a bit of worry about that.
