Source Pravda.Ru

Trespassed 340-point index to provoke dumping wave

At yesterday's stock trade session a technical upward correction took place that allowed stocks to sustain price levels higher than the strong support level of 340 (the RTS index). At the same time, this correction was prompted by closing short positions by speculative trade participants. The market has not received fresh cash from large and institutional investors since the beginning of this year, while blue chips are excessively offered for sale. According to experts, the trespassing of the 340-point index level may result in the next dumping wave that will send the market tumbling back to 300 points. One should not risk playing for a rise from the current price levels with the absence of substantial investment ideas. Many blue chips look more expensive than their counterparts on developing markets. Dividend yields are at a record low.

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