According to Dirceu Galle, Advisor to the Brazilian stockbroker investments, Fator Corretora, we have to remember that the bag is operating close to their maximums. The most relevant is be selective at this time, and be attentive to the different opportunities offered by companies in different sectors.There has been nervousness this week in the Brazilian stock market by inflation expectations and by the rise in the basic rate Selic by the Copom (Comira of monetary policy), 11.75% to 12.25%, which although it was expected by analysts, there is consensus for, at least, three settings of 0.5% until end of the year. The CPI (index of) (prices to the consumer) had an increase of 1.23% in may, the highest monthly rate since February 2003. This week, the bag had fallen much according to the Copom. The market was very concerned with inflation and short-term investors have sold a lot. On Wednesday what the Central Bank has shown is that it is attentive to inflation, but effectively has no need to raise both the rate, according to Gustav Penna Gorski, Chief Economist of the stock broker Geracao future. And the short-term investor bought back, added to the Folha de Sao Paulo. There has been record volume, (see in the article volume record of Brazilian shares in NY on May 27, 2008) of Brazilian shares that operate in New York under form of ADR (American Depositary Receipts), reflecting the external investment mania that is brewing for the neighboring country.In times of strong oscillations, is recommended to operate cautiously and always well informed by financial advisers, it is very usual that when market maximums occur, many investors want to enter into investment, and are moments in which the intelligent capital (smart money) is coming, efectivizando its gain of several months. This does not mean that the Brazilian bag can keep climbing and much, but you have to be attentive to outlets of profits occurring near market peaks.