Investment in Russia and Eastern Europe Message Board

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Strategies & Market Trends : Investment in Russia and Eastern Europe

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To: Real Man who wrote (827)	11/22/1998 3:58:00 PM
From: Paul Berliner	Read Replies (2) of 1301

The rally this weeks was strictly short covering on the part of hedge funds that were short russian stocks, had big gains but decided to wait until the moratorium expired to see if the world would punish russian stocks again. When nothing happened after the expiration this week, the positions were covered. The stocks should fall further now because there will be no covering to cushion the descent when those who have just become long panic & sell. Technically, the stock charts are still horrific.

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