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Brazilian Stocks Tumble 6% In Early Japan Trading
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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Sounds bullish to me
Stock falling is good news. The elites are in full retreat.
Wait until the Fed steps in
One of these days, they won't. THAT will be fun.
Only after the people took over the Fed.
Soon, Latin America and all its Commies will have Ebola to play with.
Then everything will be just Ducky.
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...
Petrobras is a crap stock.
Simple. The overpay and cost overruns actually went to cover the Olympic venues. /sarc
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.
Welcome Rousseff! The world loves you!
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.
Hmm. Oligarchs and algos don't like it. Must have been the correct election result.
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.
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.
ECB to the rescue !
Listen Zero's.
Buy this dip. Don't be looser.
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."
Listen.
Exactly my point.
"OH what a beautiful morning, oh what a beautiful day. I'VE got a wonderful feeling everythings going MY way"!
brazil stocks suck ass without exception
Where's our beer-swilling carioca companero, eh? Must not be happy with the outcome.
Kkkkkkkkkkkkkkkkkkkkkkkkkkkkkk
hehe
Argentina, Venezuela, here we go!! Lol
Bear's paradise!
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.
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!!!
It must be awesome to be Rousseff and realize that the market values you at approximately -$100B...
BTFD markets are central bank software bitchez.
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....
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...