DJIM Trader Alerts to 2011
Up to the minute alerts of the stocks DJIM traders are closely watching for a trade, a heads up of sorts. This section is mostly for the trader during market hours and those who are familiar with the DJIM trading methodology. In an effort to get information to you quickly, these alerts may only contain a few words, maybe only a symbol of the stock. It is best you keep up to date on the activities in Trader Journal as most plays originate from that page. Please remember Alerts are not a license to buy, watch for volume, market conditions and other indicators
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11:50 EWZ iShares Brazil: Financial transaction tax announcement takes down Brazil ADRs and ETFs (71.45 -4.80) -Update-
Brazilian stocks/etfs are breaking down further today, in the wake of reports that the Brazilian Finance Minister Guido Mantega announced Monday that the government would impose the country's IOF Financial Transactions Tax at 2% on incoming investment in fixed income and equities assets. The WSJ reported that Mr. Mantega said the move was aimed at curbing incoming "speculative" investment and helping reinforce the country's foreign trade balance, which has been hurt in recent months by an appreciated local currency. The most popular Brazilian ETF (EWZ) is trading down -6.1%. Other Brazilian ADRs trading lower include the following: VIV -8%, GFA -8%, BAK -7%, GOL -7%, BBD -7%, GGB -7%, BRP -6%, ITUB -6%, TSU -6%, NETC -6%, CPL -6%, EBR -6%, BTM -6%, ELP -6%, VALE -5%, SBS -5%, TAM -5%, TNE -5%, SID -5%, ARA -5%, PDA -5%, PBR -5%, VCP -5%, CIG -4%, UGP -4%, ERJ -4%, ABV -4%, CBD -4%.