21Nov3:06 pmEST

Countdown to Rio 2016

Residents celebrate after Rio de Janeiro won the bid to host the 2016 Summer Olympic Games With the 2016 Summer Olympics coming up in Rio, one of my long-term investment ideas has been the Brazilian utility giant CPL, dividend to boot. Emerging markets have had a volatile autumn. However, lost in the shuffle today with the market fading off the morning highs and many marquee names like FB NFLX PCLN TSLA red or near-red is the outperformance of those emerging market stocks. CPL is, of course, one of them. And updating the monthly chart, below, we can see major support stretching back many years (horizontal light blue line) still holding. I view further strength in the coming weeks as a sign that the stock is still building out a durable bottom, particularly if the $15 level can hold find buyers on any pullback. ________________________________________ CPL

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