Companhia Energetica de Minas Gerais Cemig (CIG)

[renoldman]

The sell off here was too much too fast.

This should be back to $13 in short order.

There is a couple of decent sized orders that should create support.

Why did the sector of Brazilian utility stocks go down?

There was news report states that taxes were cut for producers.

This means cheaper energy for consumers and businesses.

If anything this should cause the stocks to go up.

Here is the article: http://in.reuters.com/article/2012/09/11/brazil-economy-electricity-idINL1E8KBALP20120911

With a juicy dividend of around 10% at these prices this is an easy buy and hold.

I believe this is the best one to buy as the sell off has been overextended here in comparison to the other names in the sector.