Its bee awhile since my last analysis on anything but index futures and currencies. Today I am going to offer you RSX – Market Vectors Russia ETF. As every emerging market, Russian is also very dependent on commodity prices. Every dollar move in OIL, moves Russian stocks. So, should oil prices pick up again, Russia will thrive also.
My suggestion is to purchase 1/2 of your initial position today and put a stop below 17.50$. When we rise above 19.00-20.00 (meaning we have broken above resisting down trend line) add another 1/2 to your position. My targets are 26.00-27.00 and 32.00-34.00. By risking only 0.60-0.70 you may make ten times that amount. That’s a pretty good Risk/Reward.
