Markets did what nobody was prepared for.....recouped all its loss for the week.....
Treasury decision & worldwide restriction on short sales is gaining momentum.....if you can believe it..it all started in Pakistan when regulators have banned short sales and frozen Karachi Stock exchange index @ 9200 area for the last 6 weeks...In other words 9200 area cannot be breached...why because short sellers drove KSE from 15,000 to 9,200 in few months which was a drubbing of almost 40% in weeks.....
Germany tonight has banned short sales on financials also...so now we have KSE,LSE,NYX & DAX banning short sales....Can CACS be next???
Treasury & worldwide recognition of bad papers HAS ushered a new era of confidence for investors/traders & treasuries......NOW they all can get to people business in regulating this horrendous mess.
Markets are on much more firmer grounds......
Good stocks went below IPO price.....60% loss in equity was unbelievable for growing Sales & EPS companies who had nothing to do with financials or housing.
By 10AM Saturday..I will post a list of technically weak/strong/buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
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