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Trading the Globe: Is Russia Still Safe For Your Money?

Russia's stock market fell on Monday after a blast at the country's biggest airport Domodedovo killed at least 20 people.

"After the blast people are selling to be on a safe side. But the reaction may not be lasting," said Maxim Gulevich, a trader at UBS in Moscow.

Meanwhile, central bank chairman Sergei Ignatyev said events should not have an impact on the rouble’s exchange rate or on the Russian banking sector.

A smoke-filled corridor after an apparent suicide bomb explosion at Domodedov airport in Russia.
Source: Russian national television
A smoke-filled corridor after an apparent suicide bomb explosion at Domodedov airport in Russia.

As you may know, a suicide bomber set off an explosion that ripped through Moscow's busiest airport on Monday.

President Dmitry Medvedev called it a terror attack and immediately ordered authorities to beef up security at Moscow's two other commercial airports and other key transport facilities.

Medvedev postponed his own planned departure Tuesday for the World Economic Forum in Davos, Switzerland, where he was to give the opening address on Wednesday.

No one immediately claimed responsibility for the explosion, which occurred at 4:32 p.m. Chechen militants have claimed responsibility for previous terror attacks in Moscow, including a double suicide bombing on the subway in March 2010 that killed 40 people and wounded more than 100.

Is Russia still safe for your money?

I wouldn’t run away in fear, says emerging markets trader Tim Seymour on Fast Money. The RSX traded higher into day’s end. For me the best plays are Gazprom and Lukoil . I’m also bullish VimpelComm, he says.





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Trader disclosure: On Jan. 24, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Adami's wife works for (MRK); Terranova Owns (UPL); Terranova Owns (VRTS); Terranova Owns (PVH); Terranova Owns (GM); Terranova Owns (CVI); Terranova Owns (CNQ); Terranova Owns (LTD); Terranova Owns (C); Terranova Owns (PEP); Terranova Owns (CPX); Terranova Owns (ARUN); Terranova Owns (MS); Terranova Owns (RSH); Terranova is short Gold; Weiss owns (UUP); Weiss owns (TBT); Weiss owns (QCOM); Weiss owns (MXIM); Weiss owns (VZ); Weiss owns (WFR); Weiss owns (JPM); Weiss owns (MEE); Weiss owns (BTU); Weiss owns (FAS)

For Brian Kelly
Accounts Managed By Kanundrum Capital Own (MCP)
Accounts Managed By Kanundrum Capital Own (YGE)
Accounts Managed By Kanundrum Capital Are Long the Euro
Accounts Managed By Kanundrum Capital Own (TBT)
Accounts Managed By Kanundrum Capital Own (TER)
Accounts Managed By Kanundrum Capital Own (QLGC)
Accounts Managed By Kanundrum Capital Are Short The Yen
Accounts Managed By Kanundrum Capital Are Short USD

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LPHI)
Virtus Investment Partners Owns More Than 1% Of (NCRI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of (CLB)

For Tim Seymour
Seymour has no disclosures

For Jon Najarian
Najarian owns (VMW) puts

For William Power
Robert W. Baird & Co. Incorporated is a market maker in (AAPL), (RIMM), (S), (T) and (VZ)
Robert W. Baird & Co. Incorporated and/or its affiliates expect to receive or intend to seek investment banking related compensation from (AAPL), (RIMM), (S), (T) and (VZ) within the next three months.

For Amelia Bourdeau
Bourdeau has no disclosures

For Mike Khouw
Cantor Fitzgerald & Co is a market maker in (JNPR)
Cantor Fitzgerald & Co is a market maker in (FFIV)

For Gillis/Brown SOT
No disclosures for YHOO on 1/4/11

For Jon Najarian/Joe Terranova SOT
No disclosures for NVDA on 1/10/11

For Fast Fire SOT 12/6/10
Terranova owned UPL on 12/6/10

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