Stockscom Alert - Nov 5 2003

 

While we were concerned over the Russian-based assets of Bema Gold, we feel strongly that the Russian government is not interested in reversing course and that development of a free-market economy is their prime concern. Certainly the stream of government officials emphasizing this point in the media yesterday demonstrates the efforts which they are making to ensure that Westerners perceive the case of Yukos as unique.

 

Today, BGO had a healthy bounce from the 25-day moving average and stochastics have now reached oversold conditions. As such we feel that exiting from this stock is probably premature and therefore we recommend taking positions in this company once more.