Brazilian stocks are taking it to the chin as their leadership announced late yesterday the previously mentioned taxes on capital to try to stop an onslaught of monies flowing into their country. (generally not the worst problem to have - all things considered)

I placed a limit buy order for Brazilian homebuilder Gafisa (GFA) this morning not really expecting it to hit, but sometimes dreams do come true. We had taken profits just last Thursday [Bookkeeping - Some Sales] in the lower $36s. Here is what the chart looked like then...

/

Today the stock was pummeled mid day, and we were filled in the $32.60s (lowered our cost basis on the sold shares by 10%)... here is the current chart, just 3 sessions later.

/

This is the perfect outcome for a core and trading position strategy, we kept our core position throughout and added back a trading position; this was sort of a flier - if I had expected this price to actually come true we would of bought more but as it is, we're back to about a 1.75% exposure. If only they all worked out like this...

With Gafisa we just keep buying any dip until that red line is broken. K.I.S.S. method.

Long Gafisa in fund; no personal position