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A few weeks back, on February 23rd, we radared the RUSS, which is a fund that trades with an inverse relationship with the Russian economy.
The past week has been particularly troubling for Russia, as its central bank slashed the primary interest rate by a full percent while revealing that its growth forecast predicted a shrinking of the economy by as much as 4% this year.
These and other economic curve-balls, including the continued lag in oil prices, have fueled a healthy rebound in the RUSS from the recent low we observed at 11.22. Friday’s high of 15.77 marked a 40% swing in a matter of eight trading sessions.
With some holding the belief that an even more severe and protracted economic meltdown could be in the cards for Russia, we’ll want to monitor RUSS on an ongoing basis.
These are a few stocks that are cropping up on our scanner this morning as they gap up in the premarket. We’ll be on the lookout for the possibilities of continued momentum and/or dip-and-rip scenarios:
Microvision, Inc. MVIS has been in blue-sky breakout mode for the past several sessions, and is gapping up today on the heel of the following PR:
- MicroVision Receives $14.5 Million in Component Orders (Mon 6:00AM EDT)
- ODYSSEY MARINE EXPLORATION INC Files SEC form 10-K, Annual Report (Mon 8:38AM EDT)
Extended Watchlist:
IBIO, CERS, ACRX, ITEK, CTIC