Starting back in early Dec. last year I gave the Russian market a little tout. There
was a good trade there, but on Jan. 28 I posted the market was clearly overbought.
However, to my surprise, the market has dogged it since then what with a difficult
early winter economy and an oil price that has basically been flat since year's end
2012. The market did a little better this week on a rebound in the oil price and it
is still oversold. I continue to mull over the prospects for the oil price, so if oil
bounces up some more, I may well miss a corresponding rally in the volatile Russian
stocks until I have more solid bearings around the petroleum market. RSX Etf
- Peter Richardson
- Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!