now at 17.05 and dropping. You may not like my terminology, fine. But the point remains RSX may be headed into the 16's. I was simply asking if the jump that day was going to be a small temporary jump followed by a big drop. And... it was.
It's not going to 37 because the ruble weakened significantly, almost no GDP growth, and valuations are pretty high (Micex is near it's highs). Not only that but there is severe contango in the oil market so if oil stays the same then it will be a huge negative. This can easily go to 12 next year.
@fhs: RSX PE is around 7 - how can it be at all time highs? RSX is trading at lower PE than Pakistan stock market.
Also RUB devaluation is good for stock prices. Look at Venezuela stock market in 2014.
Sentiment: Strong Buy
You're so clueless. Pakistan benefits from low oil prices because it's not an oil producer so the currency should stay strong. Russia exports is all oil and the population of Russia is decreasing while Pakistan is increasing. The P/E ratio you're looking at is the TRAILING P/E ratio based on future oil prices in a contango market, not the future p/e ratio based off of these low crude oil prices.
When the ruble devalues. RSX will go lower but the dividends do not increase percentage wise. It's even worse than GDP going down. Look at how high EWZ was a couple of years ago and look at it now. Another ETF that should go down a ton is GXG or columbia ETF. The COP should be going down a ton eventually.
with the price of oil under $45 and falling the P/E ratio is rising with little to no hope for Russia. if oil falls to $30 Russia will be close to back where it was in the 1990's... falling close to a 3rd world nation.
Seems like a good entry point at this level. Downside might be around $10, but will be back to $20-$25 within next 2-3 years.
I haven?t seen a play has bad as RSX in years. I am now back on track since getting my alerts from Ultimate Stock Alerts (you can find them in Google)
Negative articles saying that KB margins are lower are comparing last year..not sequentially as they get better and better.None state that KB had extraordinary revenue OR that increased taxes were part of reason KB didn't have bigger bottomline.Then,in the CC ceo stated that company increasing margins and sale.What more could we want?Shorts are paying someone to slant articles??
Or as I see it , new relations with USA and sanctions being lifted. As Putin is cleaning up USA and Europe's mess with refugee's flooding in from Syria , while knocking out ISIS