Wall Street is through the roof. The gains may not last. Take your profits on Mechel (NYSE:MTL), Vimpel (NYSE:VIP), and Nortel (NYSE:NT). During one of the worst weeks in financial history, you have a chance at profits of over 30%.
In 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).
If you thought Wall Street was bad, try investing in Russia. Today, Moscow’s Interbank Currency Exchange (MISEX) has halted for a third day to prevent a run on local stocks.
Andrew Snyder says when an emerging market such as Russia sells off unexpectedly it opens up great buying opportunities.
Andrew recommends three stocks that have been dramatically oversold in the crash. They are Vimpel-Communications (NYSE:VIP), Rostelecom (NYSE:ROS) and Mechel OAO (NYSE:MTL).
Last Thursday, Mechel OAO (MTL:NYSE) announced record results for 2007.
City short-termism continuously ignores high quality businesses until a predator bids for them.