All greetings and good morning, friends!
The most offensive state for those who work in the markets is expressed in the aphorism: “Everything is going well, … but by.”
Yesterday we saw a good rebound in the markets, but so far it remains a rebound. It is too early to talk about any local certainty. It takes more time. After such an aggressive strait, which we observed at the beginning of the week, it is still not worth waiting for a V-shaped recovery in our Russian market, in my opinion, to a large extent, optimistic. Indirect signs of this, of course, are present, for example, the active buyout of the correction in America. But America is America, and our market is our market.
On a large scale, I look at the Russian market positively, because I am sure that there are elements of a long-term trend in that post-covid movement. But now I would very much like the trend to be co-directional at lower scales.
In fact, if we talk about our indices, we now have signs of a downtrend on daily charts, and it would be wrong to say something else here.
The Russian market is a mixture of raw materials markets (oil and gas, ferrous metals, non-ferrous metals and precious metals), geopolitics and sanctions, as well as the emerging new global risk of a pandemic. So trade in such conditions. The Russian market is stable.
The risks I have outlined are, without exaggeration, significant obstacles to growth. But the bird flies only against the wind, and our market is still waiting for the development of a long-term trend, which has already been formed. “Optimism, and nothing more,” says someone who does not understand the strength of the trend.
Therefore, I’m going to keep all the papers in my portfolio. And if you look at securities for purchases, then only those that are at their locally good levels, these securities are listed in a more complete version of the article of my Telegram channel.
The period of corrections requires special care for new purchases, therefore, we observe the risks and then everything will be fine and not bypassed if we choose securities correctly, based on some trading idea. Good luck to all!
With you was Alexander Perfilov, the author of the telegram channel “Look at the Market” @perfilov_invest