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To: The Ox who wrote (3966)	4/15/2015 4:20:50 PM
From: The Ox	Respond to of 8271

EWZ still rebounding....looking real good but running into resistance on the chart....(see linked post)

To: The Ox who wrote (3966)	7/23/2015 7:45:07 PM
From: The Ox	Respond to of 8271

EWZ goes back on reversal watch. Charts in linked post.... blogs.barrons.com Brazil’s Currency Slide Heightens Debt-Rating Risk July 23, 2015, 1:58 P.M. ET Brazil’s real continues to tumble, and could move even lower against the dollar, Societe Generale warns today. SocGen’s Bernd Berg references the ongoing Lava Jato scandal at state-controlled energy giant Petroleo Brasileiro ( PBR) thinks the deteriorating fiscal accounts and faltering growth could result in Brazil losing its investment grade credit rating in the months ahead. Here are his thoughts and the trade he recommends: “The slide of the BRL has intensified in recent days as the currency is facing a perfect storm of rapidly declining growth momentum (amid a drop of key commodity prices in recent weeks), corruption scandals, political risks and a deterioration of the external environment with the Fed moving closer to hiking rates. With the deterioration of the fiscal accounts and faltering growth Brazil is now on the edge of losing its investment grade status over the upcoming months. Accordingly the BRL is poised to rapidly intensify its decline and reach 3.60 USD/BRL within the next 8 weeks amid the deterioration of the domestic situation, a generally challenging environment for high-yielding EM currencies and a weak charttechnical picture with the breach of the 3.07 to 3.24 trading range. Our trade is currently posting a profit of 5.5% (ex. carry) and we raise our target for this trade from 3.32 USD/BRL (spot equivalent) to 3.60 USD/BRL (spot equivalent). At the same time we raise our stop-loss from 3.06 to 3.11 USD/BRL (spot equivalent).” The iShares MSCI Brazil Capped ETF ( EWZ) is down 3.7% today.