Old Faithful

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One thing sorely lacking in this market is the ability for a selloff in anything to last more than an hour or two. One glorious exception is one of my favorite shorts, Gerdau S.A., shown below.

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What’s remarkable about this beauty is that it’s been falling pretty much every single day. I’m hanging on to this short (tightening the stop all the way down), since there’s pretty much nothing but air beneath current prices.

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