If you are a contrarian investor/trader, this could be a bullish sign for Brazil’s Bovespa. 

According to Valor Economico, the number of accounts of individual investors in the stock market fell for the fifth consecutive month in October. According to a report released yesterday by the BM&F Bovespa, the total number of these types of accounts totaled 588,568 last month – almost 5,000 fewer than the 593,311 recorded in September. This means that this year alone, the stock market lost more than 22,000 individual accounts, since the year started with 610,915 accounts.
Bovespa’s accounts composition:
– Individual investor’s: 20.4%
– Foreigners: 35.9%

– Institutional (endowments, funds and insurance companies): 32.8% 

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