Hap (Robert) Sneddon FCSI Mrk Vectr Russia E.T.F. RSX-N WAIT Jun 10, 2015

He has never invested in Russia. This one includes companies outside of MSCI. The question is the liquidity of these ETFs but this one would be the best choice. He would not buy Russia. Oil and gas is 39%, then there is nickel and materials.

Sold 20 contracts of January $15 Puts for $0.50 because most of Europe is still dependent on Russia for most energy needs. Don’t confuse gambling with investing. Anything to do with Russia is basically gambling because there is no transparency there whatsoever.

This Russian ETF is bound up in the oil story. There have been signs in the option market that traders are setting up. Calls have outweighed Puts by 2 to 1 recently on this ETF. It has been driven down substantially by the collapse in oil prices and the collapse in the ruble. The trend is your friend, and the trend here is definitely on the downside. You want to have signs that this has bottomed before becoming interested in this area.

Is this a good one to play oil prices? This has recovered very well, but buying a Russian ETF or anything over there reminds him of Russian roulette. There is no transparency. It is very opaque and there is corruption everywhere.