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Volkswagen is a screaming buy

I think we have a very interesting buying opportunity in Volkswagen shares. Of course,is not a right business practice to cheat emission standards, but market reaction is really excessive. Even with high emission it is still good and popular cars. Germany will not take harsh actions against its one of top companies. Most of other countries just do not care much about emissions. In emerging countries there are a lot of more dirty cars hitting roads then a new Volkswagen cars. The only risk is US reaction. They can impose a huge fines, but VOW has $21 bln. in cash, so it will survive. Also US has only a 6% share of total VOW sales. Even if negative publicity affects VOW US sales its impact will not be disastrous. 

From technical point of view we have a very good support around 100 euro area.

So at this levels it is better to buy.