Due to the massive selling pressure at the bell this morning, trading in the BVL (Bolsa de Valores de Lima) Peru Stock exchange has been suspended for one hour. Here's the website link for the BVL, but don't be surprised if the page doesn't open, as they're swamped right now.
Basically, the idiots in the Lima middle class have decided to panic. Panic = opportunity. Don't buy yet, but keep Peru firmly on the radar because the chances of a big and buyable swoon are now getting higher.
Update: The Lima market is due to re-open at 10am local time (11am EST), which is about three minutes from now. Those trading stocks in Canada that have pair tickers in Lima should watch for the action in the more liquid junior mining stocks on the Lima exchange. These include Rio Alto Mining (RIO.v), Candente Copper (DNT.to) and Zincore (ZNC.to). Also of interest are Vena (VEM.to), Candente Gold (CDG.to) Rio Cristal (RCZ.v), Panoro (PML.v) and probably a few more I can't remember offhand right now.
Have fun and happy market watching!
UPDATE 2: We're just after 10am. The BVL bigwigs are obviously crapping their pants now and have suspended trading for another hour! If you ever wanted an example of "asking for trouble", look no further. Abject stupidity on display.
UPDATE 3: The BVL re-opened at 11am local time (12 midday EST) and....SPLAT! Now 10.6% down.Updating this update at 11:20 local time (12:20 EST), the IGBVL is now down 10.88%. Just so you know.
Update: The Lima market is due to re-open at 10am local time (11am EST), which is about three minutes from now. Those trading stocks in Canada that have pair tickers in Lima should watch for the action in the more liquid junior mining stocks on the Lima exchange. These include Rio Alto Mining (RIO.v), Candente Copper (DNT.to) and Zincore (ZNC.to). Also of interest are Vena (VEM.to), Candente Gold (CDG.to) Rio Cristal (RCZ.v), Panoro (PML.v) and probably a few more I can't remember offhand right now.
Have fun and happy market watching!
UPDATE 2: We're just after 10am. The BVL bigwigs are obviously crapping their pants now and have suspended trading for another hour! If you ever wanted an example of "asking for trouble", look no further. Abject stupidity on display.
UPDATE 3: The BVL re-opened at 11am local time (12 midday EST) and....SPLAT! Now 10.6% down.Updating this update at 11:20 local time (12:20 EST), the IGBVL is now down 10.88%. Just so you know.