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Brazilian Stocks Tumble 6% In Early Japan Trading

Tyler Durden's picture




 

So far US equity futures are flat to modestly higher on the 'disappointing' news that Rousseff was re-elected in Brazil. USDJPY has given up its hope-based gains and is lower (implying a 4-5 point drop in S&P Futures that is not there yet). Brazilian stocks (trading in Japanese ETFs) are down almost 6% in early trading on heavy volume as the pro-business hope-driven rally has been almost entirely given back.

 

NEXT FUNDS IBOVESPA ETF (Japan)

 

On heavy volume...

 

and USDJPY has faded - though S&P Futures are stable for now...

 

Charts: Bloomberg

 

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Sun, 10/26/2014 - 20:39 | 5380635 sun tzu
sun tzu's picture

Sounds bullish to me

Sun, 10/26/2014 - 20:56 | 5380654 Publicus
Publicus's picture

Stock falling is good news. The elites are in full retreat.

Sun, 10/26/2014 - 20:59 | 5380707 sun tzu
sun tzu's picture

Wait until the Fed steps in

Sun, 10/26/2014 - 21:06 | 5380728 NYPoke
NYPoke's picture

One of these days, they won't.  THAT will be fun.

Sun, 10/26/2014 - 21:17 | 5380757 Publicus
Publicus's picture

Only after the people took over the Fed.

Sun, 10/26/2014 - 21:06 | 5380729 kaiserhoff
kaiserhoff's picture

Soon, Latin America and all its Commies will have Ebola to play with.

  Then everything will be just Ducky.

Sun, 10/26/2014 - 21:16 | 5380733 sylviasays
sylviasays's picture

So Dilma Rousseff and her predecessor Luiz Inacio Lula da Silva knew about a kickbacks scheme at state owned oil giant Petrobras?

The refinery project at the centre of the allegations, Abreu e Lima, in Brazil’s northeast, cost over twice as much as similar facilities being built overseas. But if Brazil’s public spending watchdog, the TCU, is correct, this is minor compared with overspending on another refinery project Comperj, in Rio de Janeiro, which is estimated to be costing nearly 3.5 times the international average.

Dilma Rousseff was on the Board of Directors of Petrobas when it signed a deal to spend over a billion dollars on a Texas oil refinery worth just around $50 million two years prior. The company has lost 51% of its market cap in the last three years and is now valued at $75.5 billion.

http://www.forbes.com/sites/kenrapoza/2014/03/23/petrobras-puts-brazil-p...

http://www.ft.com/cms/s/0/015f0638-58c3-11e4-942f-00144feab7de.html#axzz...

http://news.yahoo.com/rousseff-knew-petrobras-kickbacks-report-225218683...

Sun, 10/26/2014 - 21:23 | 5380771 buzzsaw99
buzzsaw99's picture

Petrobras is a crap stock.

Mon, 10/27/2014 - 00:59 | 5381153 walküre
walküre's picture

Simple. The overpay and cost overruns actually went to cover the Olympic venues. /sarc

Mon, 10/27/2014 - 11:41 | 5382154 gallistic
gallistic's picture

Why do you repeat your postings?

You keep on posting this like it means something. This is not a new story. The sale occured in 2006, and the details are all well-known. If anyone truly digs into the details of the story, they will find that it is not exactly what you make it out to be.

So what if L’Agence France-Presse rehashed a desperate, last-minute, political attack by a truly horrible and rabid right-wing rag (funded by foreign NGOs?)  just in time for the general election?

BTW the allegations are based on an "interview" from a discredited sleazoid, Alberto Youssef, who has served time in a Brazilian prison previously and is desperately trying to cut a deal and save himself.

 

The people of Brazil, who are the ones that matter, knew all about it, and still elected Rouseff.

Get over it.

Sun, 10/26/2014 - 20:38 | 5380637 dressguard
dressguard's picture

Welcome Rousseff! The world loves you!

Mon, 10/27/2014 - 04:06 | 5381294 giovanni_f
giovanni_f's picture

The majority  at least. The other guy was given the label "pro-business" by the presstitute media, i.e. a US puppet who aspires to be on Goldman Sacks' or Monsantos payroll after his turn one day. Most people in south america don't feel like voting for those pro-business oligarchs any longer. 

Sun, 10/26/2014 - 20:43 | 5380651 LetThemEatRand
LetThemEatRand's picture

Hmm.  Oligarchs and algos don't like it.  Must have been the correct election result.

Sun, 10/26/2014 - 20:49 | 5380668 Philo Beddoe
Philo Beddoe's picture

The algos sold a bit when Obummer was re-elected as well. Then, the algo programmers wrote new code.

Buy buy buy....only a puppet.  Roughly translated. 

Sun, 10/26/2014 - 20:52 | 5380682 LetThemEatRand
LetThemEatRand's picture

Same code as before Zero was elected, just a programmed dip to send the correct message to the sheep.  Goldman didn't give him millions because they like his golf game.  I know nothing about Brazilian politics so can't comment on the election other than in jest. 

Sun, 10/26/2014 - 20:45 | 5380653 starman
starman's picture

ECB to the rescue !

Sun, 10/26/2014 - 20:47 | 5380661 Bangalore Equit...
Bangalore Equity Trader's picture

Listen Zero's.

Buy this dip. Don't be looser.

Sun, 10/26/2014 - 21:05 | 5380721 disabledvet
disabledvet's picture

The old saw about fighter pilots:  "everyone here dies but me."

These Wall Street dopes and their Full Retard cronies might not believe in psychology...but saying there is no such thing as "market psychology"?

Bwahahahahahahaha.

60 plus homicides in Tulsa, OK?  Sounds like " not OK" to me.

Let me guess "no plans to do a phucking thing about it either."

Sun, 10/26/2014 - 22:08 | 5380790 Bangalore Equit...
Bangalore Equity Trader's picture

Listen.

Exactly my point.

"OH what a beautiful morning, oh what a beautiful day. I'VE got a wonderful feeling everythings going MY way"!

Sun, 10/26/2014 - 20:59 | 5380705 buzzsaw99
buzzsaw99's picture

brazil stocks suck ass without exception

Sun, 10/26/2014 - 21:18 | 5380758 tarabel
tarabel's picture

 

 

Where's our beer-swilling carioca companero, eh? Must not be happy with the outcome.

Kkkkkkkkkkkkkkkkkkkkkkkkkkkkkk

hehe

 

Sun, 10/26/2014 - 21:25 | 5380774 Bubble Shooter
Bubble Shooter's picture

Argentina, Venezuela, here we go!! Lol
Bear's paradise!

Sun, 10/26/2014 - 22:18 | 5380876 DaveA
DaveA's picture

In Atlas Shrugged all nations outside the US are "People's States" where there's no private property, everything is owned by the government, and people survive by foraging for roots and grubs.

It must have sounded ridiculous in 1957, but it's prophetic now.

Sun, 10/26/2014 - 22:19 | 5380880 Son of Captain Nemo
Son of Captain Nemo's picture

Payback by Mr. Soros & Co. for a triumphant victory at the polls for Ms. Rousseff and "BRICS Nation"

I can smell the sulphur 7,000 km away!!!

Sun, 10/26/2014 - 22:20 | 5380882 I should be working
I should be working's picture

It must be awesome to be Rousseff and realize that the market values you at approximately -$100B...

Sun, 10/26/2014 - 22:22 | 5380887 q99x2
q99x2's picture

BTFD markets are central bank software bitchez.

Mon, 10/27/2014 - 05:05 | 5381325 Sovereign Economist
Sovereign Economist's picture

Neves was the Wall Street / globalist/banker's candidate...  Brazil should declare a national holiday after the NGO efforts to defeat Rousseff failed...  Brazil has dodged a bullet and probably doesn't generally realize how fortunate they are....

Mon, 10/27/2014 - 10:11 | 5381818 sylviasays
sylviasays's picture

Rousseff is the fat Marxist dictatorial pig candidate...  the middle class of Brazil should declare a national mourning because the red pig and her cronies are still at the trough feeding...  

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