Tuesday, March 23, 2010

Trade: Bought Back Gafisa

After just trimming our positions in Gafisa (GFA) on the 17th, we jumped back into a full position in the Growth Portfolio on the drop to the 200EMA. Also, added it to the Opportunistic Portfolio for the first time. The drop from $15 to $14 didn't last long. Our average purchase price was around $14.13 and the stock is now around $14.77.

The stock has mainly been weak due to an expect secondary offering possibly after the close tonight. It might dip again tomorrow in the am but any weakness should be bought. GFA is a leading Brazillian homebuilder with decades of growth ahead.


No comments: