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One of the many thanks that I will be giving at this year’s McCullough 2008 Christmas party, is not having bought into the “Fast Money” highs of everything from Brazil to horse manure. Latin American and fertilizer stocks should never be bought at a fully loaded Park Avenue price!

Now that Brazil’s Bovespa Index has seen a -60% price cut from those manic highs to October’s lows, it’s getting very interesting. We bought more of the EWZ etf today for the same 3 reasons that we have been discussing: 1. Best country to own for Re-flation, 2. Pending Brazilian interest rate cuts, and 3. Technical support built up at the line shown below (36,582).

Buy low, sell high.
KM