Gafisa (GFA) is trading back down almost text book post earnings; could not ask for a better trade than what we just enjoyed here. We doubled (0.9% stake to 1.8% stake) the position last Monday near $38 We took out a smaller portion at $43 Wednesday We took out (down to 0.6% stake) a big position Friday AM at $49.60 We added (back up to 0.9% stake) a small bit yesterday below $45 We added a much larger piece back at $42 this AM Downside remains first to upper $39s (near $40) - first support - and then at $38 (stronger support) but my largest sell was at $49.60 (Friday) and largest buyback was $42 (today) so we cleared 15% on that transaction in a 2 session period. I'll take that all day, every day. I'll buy more on a pullback to $38, but for now Gafisa is back to a 2.4% ...