DoctoRx's  Instablog

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Over 30 years of investing in individual stocks. Extensive business experience with small to mid-size companies, including as CEO. Many hundreds of blog posts on financial and economic matters since 2008. Focus on value with catalysts for upside price action. Background as a physician and... More
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  • Follow-Up On Russian ETFs 0 comments
    Feb 20, 2013 10:58 AM | about stocks: RSX

    I recently wrote an article saying that investors may want to look at Russian ETFs as undervalued plays that are relatively uncorrelated historically with US stocks.

    I am turning more bearish on US stocks. My guess is that Value Line's estimate of fair value for the Dow 30 average is around or even under 13,000. Given that markets are all highly correlated with each other these days, and given that silver and gold are falling apart on the charts, and copper may have begun to do so, then oil may be next.

    I have begun taking (modest but worthwhile) profits on Russian ETFs, replacing them with cash.

    Disclosure: I am long RSX, RSXJ, ERUS.

    Stocks: RSX
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