¿Is Bolsas y Mercados (BME) near a breakout?

BME is the operator of the stock market in Spain. It's a very rentable and optimized company with a big dividend and a big pay-out. The last short ban has eroded its revenues about a 30%. Now it's rumored that ban could arrive to an end. That can lead to an increase in the 2012 benefits.

However there have been new competitors in the Spanish stock market. There are two new platforms that can get a 10-15% of the transactions.

That's the fundamental view. But looking the graph we can draw a symmetric triangle that lasts tree years. Now it's near the end. A break and a rally are in the cards. We will look to it carefully.