Whoa! Asian markets got hammered hard, this may bleed into the US market this next week. A pull back to regroup would be nice. When does year end selling usually stop?
Dubai was an "overreaction" to lofty level in markets worldwide.
$60 billion debt or 3 billion payment suspension for 6 months does not warrant a reaction of this magnitude....
This year most investors/traders have profits in their account..so minor selling is already going on on "down days"....so do not expect any year end selling situation to impact overall direction.....
2 comments:
Hi Saleem,
Whoa! Asian markets got hammered hard, this may bleed into the US market this next week. A pull back to regroup would be nice. When does year end selling usually stop?
Best Regards
Hi Standards,
Dubai was an "overreaction" to lofty level in markets worldwide.
$60 billion debt or 3 billion payment suspension for 6 months does not warrant a reaction of this magnitude....
This year most investors/traders have profits in their account..so minor selling is already going on on "down days"....so do not expect any year end selling situation to impact overall direction.....
Direction of this market remains UP !!!
Saleem
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