July 9, 2008

All that you need to know about financial markets but were affraid to ask

Yes, after these bearish days you are probably wondering: is it over? Is this the beggining of the end? In your mind you think that markets will fall further, but you prefer not believe yourself!

You just don't ask anyone about their opinion because you are affraid to discover that they might have the same view.

I never saw all the market participants on the same side. I just cannot find any bullish sentiment on this markets.

The global trader indicater agrees with this bearish view. Thought, in comparison to previous week there are some positive signals. India sensex had become bull, despite of the present short term downtrend. Momentum is also negative, so i recommend to stay away for now. Just keep an eye on it! Exactly the same for nasdaq ndx index.

In the european markets, even with todays rally, all gti are bearish. Exceptions are those sectors i discussed last week. Utilitties (that rallied 3.5%) and media (up 1%).

Let's wait and see what alcoa has reserved to us. It's a market mover event... I bet on the downside. And about you?

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