Joyful and blind: madness rules the exchanges

Foreign Exchange Market Finansy21-05-2009 Joyous and blind: madness rules the exchanges Investor unconditionally verivshemu over the past year, analysts can only sincerely sympathize. However, experts should not be blamed. Just their methods to panic investors no longer work. In fact, what's the point count "fair price" or "resistance levels" at a time when players are guided more by considerations of a series of simple "Every man for himself"? Just a year ago, experts said in unison, if not on the undervaluation, then, at least, the prospects of the domestic stock market. Then came the crisis and slump, during which the most shares fell an average of five times. The rapid growth of the market this spring, too few people foresaw, especially his last stage: on the eve of May holidays, virtually all experts expected market correction. Correction has begun, but a week later, after the market grew by 15%. So yesterday, analysts and investors convinced themselves that nothing wrong with the western stock and commodity markets should not expect, and hence the game to raise is justified. This optimism led Sberbank (4.5%) and Gazprom (1.7%) at the maximum price levels this year.