The CBR had a chance to take back 60 at the open and they did nothing; probably a 3 Billion purchase would have got it below 60 and maybe scared away speculators... Amazing... Losing hope and money fast.
I can't believe the CBR has let this happen.. today was the day they had to protect the Ruble and they did nothing.. They had a chance to get it below 60 with an infusion, and they instead let it skyrocket to 69. I have no idea why they did not deliver a knock out punch to the speculators. If they don't infuse money to get it below 65 by the open I'm exiting.
Now GAZP just went green.... I know russian stocks are volatile, but this is truly insanity. I've never seen 22% swings on no news before.
I truly believe that was a flash crash... 22% move of MICX and Ruble combined on no news. 22% move in total over 30 minutes to an hour. Recovered 15% of it so far. Truly insane.
GAZP and the MICEX have moved up 10% from their lows now and are about flat.. strangest thing i've seen since the US flash crash
1:30AM: OGZPY up 10% premarket; MICX flat, Ruble up 10%
2:30AM: OGZPY down 12% premarket, MICX down 10%, ruble down 1%
3:30 AM: OGZPY flat, MICX flat, Ruble down 1%
Still no news to explain it.. Russian Flash Crash? Russian capitulation?? Maybe the Govt is liquidating stocks to buy rubles? If this happened in the US markets it would be on every news channel.
That was very, very, very strange. All total Russian stocks lost 22% move from the high. Gazprom moved from 130 to 117. The Ruble devalued from 59 to 66. It truly was a Russian Flash Crash. That's like the S&P dropping 400 points in an hour.. no news to explain it yet. Now recovered about 12% of the Crash so far..
Very tempted to buy RUSL tomorrow... 3X bull should finally make a huge comeback. But slow and steady wins the race on this one so will stick with Gazprom. Amazing how harsh the move on RUSS and RUSL have been over the last 3 weeks. About a 300% move on both..
they can always make special exceptions or give emergency loans. Look at the US bailing out many companies that were too big to fail.
I like Russia's odds once they get serious. I doubt any speculators have 400 billion in foreign reserves and 200 billion in other funds such as "a rainy day fund'. this is the first sign Russia is drawing a line. What is different from now than 1997 is they have the guns to defend their currency.
speculators are toast tomorrow if CBR also does a huge purchase of rubles. maybe 20 Billion. That on top of the 17% will completely trap them and probably get the ruble to the low 50s
Dramatic move today. if it stabilizes the ruble, then this is the floor... Tomorrow is key.
trading up to 14.20 in AH.. No news I can see so probably just speculators. I'll take any relief there is... Brutal 3 weeks.
Very well spoken.. i've always been a believer in stop losses until this investment. My stop loss would have been around 5.50/share on my usual investments. Instead I doubled down at that price which I always said I would never do. Just didn't see much downside left at that price. Worst 3 weeks of my life in investing, but I agree this should be close to the end of the demise
a huge currency intervention tomrrow plus some type of emergency plan would help calm capital flight. Even i'm thinking of panic selling just due to the velocity this is falling.
Something has to happen tomorrow. If the Russian Govt doesn't do something to stabilize the Ruble it can be a self fullfilling prophecy. The Russian currency is now doing as poorly as Ukraine's currency. Makes zero sense, but that's reality.