ARGT on life support
I just don't understand why this and other emerging markets are getting new life this week. The IMF is and central banks are buying the peso to prevent its free fall. However, the Country's GDP just SHRANK 4%. Some banks are telling folks to by emerging markets now, which doesn't make sense as any price rise is due to central banks buying currency and not due to a strong economy. Who know what kind of dead cat bounce will occur in the next few weeks, but long term prospects are not good. First target at support of 22$, second target at 19$. Peso down over 50% since December and weaker peso compound debt woes.
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