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Macro Economist
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I have nearly a 15 year career on the buy-side, with over a decade in New York, having served in various capacities at blue chip firms as Analyst, Portfolio Manager and Asset Allocation Strategist, at one time directly overseeing several billion dollars in hedge fund assets for institutional... More
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  • Is It Time To Reconsider Brazil? 0 comments
    Aug 23, 2013 11:28 AM | about stocks: EWZ

    Readers know I have been bearish on Brazil for a couple of years and am likely to continue to be until I see a global washout.

    That being said, the Brazilian Central Bank has taken proactive steps as of late. Real Rates in Brazil are 4%, but more importantly inflation could be falling as shown in the chart below.

    If that's the case, investors may want to reconsider shorts in EWZ and perhaps even scaling in long positions.

    (click to enlarge)

    Ideally, I'd want to see a good inflation print before jumping the gun on the long trade here. On the other hand, shorts need not be greedy with the RSI divergence beginning to show up in the charts. A better short entry point could be coming.

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: EWZ
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