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RESEARCH NOTES

Wal-Mart Stores Inc. (WMT)

Bullish Factors: Bullish daily MACD, The stock is in the short-term upward trend, Strong bullish daily Stochastic Osñillator, Support at 50MA, Similar stocks or key components have formed bottoms; gained momentums; Forward P/E (15.5) < Trailing P/E (17.8), P/S (0.59); Program trading buy orders at 58.13 after Sep 23, Implied volatility (34.69%) > Historical volatility (28.28%), Unusually high option trading volumes for Nov 55-65 Calls/Puts; Stock reacted adequately on the latest positive news;
Bearish Factors: Resistance at 63.25, PEG (1.45), Neutral EPS revisions trend;

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QUANTITATIVE ANALYSIS

Oil and gas companies have the largest share (39.8%) in Market Vectors Russia ETF fund (RSX) holdings and Russian stock market. Share of oil revenues exceeded 60% in the export revenues of Russia in 2007. So it is obviously that the Russian stock market has strong correlation with the global energy sector.

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FEATURED E-BOOKS

RUSSIAN STOCK MARKET AND GLOBAL TRENDS

This report (68 pages) shows how global industry trends and macroeconomic factors influence on Russian stock market and its "blue chips". It provides a better understanding what a market game is being played out by large institutional investors "behind-the-scene" and how other investors could benefit from knowing it. In Russian.

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Q&A

Q. Which global trends impact on Russia at most?
A. Russia's stock market (RTS index) better correlates with Global Energy Sector, Basic Materials Sector...

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