Buying the news - Although Lula has screwed up

This downside gap was a reaction to the ex-president Lula accepting the invite to become a Minister to escape justice, the market does not like it at all. Basically it means we will see a little more of Dilma Roussef's ideas and believes - which are the same as Lula - to live a little longer, making the economy struggle.

So it could could be an overreaction, in a way. Long and with short stop to see it.

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There was no overreaction. Lula is planning to use the dollar reserves to prop up artificial credit. If that is true, I am bearish long term on the index.