amazing, brazil closing in on 60,000, up over 500% in 5 yrs.

In one year its up close to 60%, not even a small pullback since Feb 27th, just straight up, its up over 500% in 5 years. I think its just a BITTTTTT over bought, next correction in emerging markets WHEN it does happen is going to be SIGNIFICANT, I think a 40% correction is quite possible.





IBOVESPA SAO PAULO (Sao Paolo:^BVSP) Edit
Index Value: 58,124.95
Trade Time: 10:16AM ET
Change: Up 569.10 (0.99%)
Prev Close: 57,555.85
Open: 57,555.85
Day's Range: 57555.85 - 58292.88
52wk Range: 34,127.00 - 57,983.00

 

and that doesnt even account for the huge currency gains for you americans.

 

Looks pretty strong so far. Just curious if the new currency speculation policy and the lack of substantial dollar infusion this month may cause it to stall. Regardless it should be a test to see who's driving this market higher...foreigners/locals/oil/all the above.