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Wednesday, April 13, 2011

trade - PBR

Made an initial entry on the current weakness. Will double up at 36, if I am lucky to get it there.  As indicated in the previous post, gas prices should be rising soon in Brazil, which will help their margins and profits. (Also, operationally, they benefit if oil goes down. In terms of asset value, they benefit when oil is up, obviously due to their massive reserves. But the street does not credit them via asset value.)

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