BullseyeGains
Oct 26, 11:42 PM
Brazil got crushed Monday, but not evenly... the Brazilian real, the currency, had its worst day since 1999,
$EWZ closed down almost 20%,
$PBR and
$NU fell double digits,
$MELI fell too, and
$XP lost nearly half its value. Vale, which sells iron ore for dollars, was down only about 3%. So the market dumped anything tied to the government and the currency, right after the central bank had cut five times in a row. if rates stay high and the fiscal plan stays vague... which one gets bought first, the dollar earners or the ones that got crushed?
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