Thursday, July 29, 2010

Ideas for correction in the market of the Russian Federation not only a desire of some players to close long positions when the growth

Monday, July 27, 2009, 20:08
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The beginning of this week marked another increase in oil quotes to a level of 71 dollars per barrel, so the Russian market, despite the desire of some players to record profit growth reopened. It will be important to overcome the mark of 1050-1060 points on the MICEX index. Ideas for the correction there, is only the desire of some players to close long positions when the growth from 13 July to date, 20% of the MICEX index. While this correction did not refresh the mood of any meaningful idea (bad macro-economic data in the United States, Europe, the decline in commodity markets), the serious reduction may not take place. The data on sales in the primary market of housing in the United States for June stoned records for the last 8 years - the growth has increased just 11%. All of this - low rates on mortgages and attractive price levels have led to such positive results, even in spite of the continuing rise in unemployment.

In the week to continue a news background in the reporting season in the United States. However, you will have no mass reports of large companies, as in the previous two weeks. It may be noted reports of major U.S. oil companies (Chevron, Exxon Mobil, ConocoPhilips), as well as the results of Motorola. Oil companies are likely to show good results for the 2 quarter of 2009, as conditions in the oil market has been extremely positive. The results of Motorola, by contrast, can be quite negative, as the company loses the last few years, competition in the market.

The main macro-economic event this week will be published on Friday, the first estimates of GDP for the United States 2 quarter of 2009. It was expected that after the fall of more than 5% in the 4 th quarter of 2008, and 1 quarter of 2009, the fall of the American economy slowed to 1.5%. The reduction of stocks, slower decline of industrial production, the revival of sales in the real estate market - major factors that contributed to slow the decline. In doing so, even 1,5-2 months ago, the consensus forecast was at the fall of more than 2%, but the macroeconomic indicators and the outcomes of the major companies have contributed to the revision of the rate of reduction in the American economy.

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