We're in hard times with low volume. In the short term there's no reason it will get any better.
Many say it was the Argentine news that brought us down.
Nobody wants government paper, here or abroad. The basic reason for that is the 'Lula is coming!' panic, which brings other consequences such as speculation and liquidity problems.
On Monday you have the options expiration and you're going to see very high volume. After that, my guess is it's going to be flat. I don't see any direction in the short term.
I think a lot of people are still afraid about what could happen.
People are fearful of the outlook in general.
People are afraid of what could come out politically.
Some people are saying that they are still a good buy, even though they may not like the share swap offer.
Trading here today was very volatile, as it was in New York. It was the last session of the month and quarter, when many companies close their fiscal year books doing corresponding buying or selling.
The day started well, but later all those rumors about important people involved in a scandal caused a lot of nervousness. Many people had been already prepared to sell after recent highs and the ball rolled.
There are not many prospects in the short term.
We liked it ... it fell on the fact.
We've got all markets going up. Prices were pretty depressed in Brazil.
Things were bad. The drop on Wall Street forced more investors to sell shares here ahead of Monday's options expiry.
On top of all the problems we have here with the energy crisis and Argentina and the dollar ... being very volatile, you have the Nasdaq and Dow Jones going down.
Now everybody is wondering whether ours will lower as well.
It was a textbook situation, when you buy on rumor and sell on the fact.
It's rising more on New York than anything else.
The numbers showed the U.S. economy isn't that heated.
Even when Argentina gets things right in the short term, investors worry about the problems still to come.
The Wall Street recovery is impressive. But there, as well as here, the market is still very, very bearish.
The restructuring is expected to benefit CSN more than anyone else.
If you put all that together you end up with a reduction in volume.
In the United States, there's the question of technology companies' earnings that is complicating matters. The market is highly volatile, with options expiration, oil prices falling. It's a combination of many things.
Investors are interested in Brazil because the prices are very cheap.
Investors are beginning to sell the issue as there won't be anything to roll over to.
But volume is low and there isn't much interest around unfortunately.
The market was good today, though foreigners are still not buying too much here.
The market isn't very favorable. We are following New York.
The market is hungry for details of the Argentine swap and there are no details. There is also no answer to the question if Congress will be setting up a government corruption probe.
