Andrew Snyder’s Russian Stock Pick Makes 35% in One Day
Sep 19th, 2008 | By Andrew Snyder | Category: Emerging MarketsIn yesterday’s Hidden Value newsletter, Andrew Snyder recommended three Russian stocks oversold in the recent market crash. One of those – Rostelecom (NYSE:ROS) – has already made over 35% gains. Andrew says its a good time to book these profits, but recommends readers continue to hold his other Russian picks: Mechel OAO (NYSE:MTL) and Vimpel Communications (NYSE:VIP).
This from Today’s Financial News:
Rostelecom (NYSE:ROS) is up by over 35% [on Thursday], handing investors that followed my advice 35%-plus gains in just one trading day. Time to take those gains off the table!
I just love a volatile market. For the folks willing to do their homework and do some research, a roller-coaster market can lead to big gains.
The Russian markets are in turmoil. With 80% of the country’s equities representing commodity-based companies, it is no surprise the markets plunged as the global economy entered an obvious slowdown phase. While the discounting of many of these companies was needed, there was no need to slash the prices of many other Russian companies.
On Wednesday, I wrote about three Russian companies with share prices that got hammered in the wake of the country’s stock market collapse. All three are strong firms that deserve much higher valuations. The proof is hitting the ticker tape today.
My pick Rostelecom (NYSE:ROS) is up by over 35%, handing investors that followed my advice huge one-day gains. In this here-today-gone-tomorrow trading world, it is best to take those gains off the table.
Sell your Rostelecom position.
You should hold onto the two other Russian investments I recommended, Mechel OAO (NYSE:MTL) and Vimpel Communications (NYSE:VIP). Both positions are well into positive territory and should continue to rise in value.
Source: Making Money as Markets Go Mad: Sell Rostelecom (ROS) for 35%+ Gains
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