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Bought 900 shares of RIO at 40.89

JasonW posted on 05/23/08 at 08:59 AM (Note posted about 9 hours after the trade)
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Users Bought (30 Days) 1 (100%)
Users Sold (30 Days) 0 (0%)
Market Cap 45.76B
52-Week High 44.15
52-Week Low 8.80
10 Day Volume 29.35M
P/E 5.68
EPS (Trailing 12 Mos.) 0.0
1Day 5Day 1Mo 3Mo 6Mo 1Yr

Transaction: Bought
Symbol: RIO
Quantity: 900 shares
Price: $40.89
Value: $36,801.00
Stop Order: Yes @ $40.75
Target Price: $42.00
Hi everyone. It's the 5th day in a row RIO is losing value, and lost of 7% total. Usually I just LONG in special occasions, and I think this is one!
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Posted by JasonW on 05/23/08 at 08:59 AM

Tag It | 1 user tagged it: RIO, stock, buy

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JasonW

Member since: May 07
Trades 805
Trade Notes 5
Blog Posts 1
Trader
Age: 20's
Rio de Janeiro, RJ
JasonW
Posted May 23, 2008 (09:12AM)
Oh, I forgot about some "fundamentals"... Brazil now has the Investment Grade Label, which means it's "more secure". That way, some fund managers (from pension funds for example), now has authorization to invest in Brazilian stocks. There are some rumors about an upgrade by FITCH too, but looking in internet, seems like is going to take like 2 years. There are many brazilian stocks good for long run, but keep an eye in GGB, SID, RIO and PBR. Wait for a correction to enter a trade. In my opinion RIO has more chances, that's why I bought it now.
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lifeisgrand

Member since: May 08
Trades Not Shared
Trade Notes 0
Blog Posts 0
lifeisgrand
Posted May 23, 2008 (04:58PM)
An interesting buy.    What I see - technically - the industry isn't anything special right now; the MACD seems a bit high; the volume is at a super level over all but the past month doesn't show an increase; it is well above its 200 day mva so its strong there; it's just off a 6 month high so this may be a good entry price.    I hope it works for you.  
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