Despite Friday’s Pull Back Market Is Well On Track!!!
Disruptive elements are getting out their entire armoury in a desperate attempt to smother the rising market. But the Government of H.E. is too strong for these saboteurs and the market will continue its rise soon. There is no better advertisement to attract foreign investment in to Sri Lanka and the Government has now realized that.
The new chairman of the SEC may assume duties this week. Their first task will be to implement the decisions taken at the meeting of the brokers with the H.E. That will be the take off point for the market.
TWOD case got postponed again. But the company is in the process of establishing some strategic alliances with some strong investment partners such as SUN.
This week will be an eventful one when lot of things are expected to happen that will usher in the new era and signal the end of the bad days.
Market movers and shakers have started to return for sure.
We shall recommence our Go-To-Meeting day trading chat soon. Those willing to participate should contact me via email immediately.
Friday’s market pullback sent the RSI’s of ASI & MPI daily charts to 44 and 37. BUY signals are still there in both ASI & MPI charts pointing towards a big Bull Run in the making. Bargain Hunters still have a chance to grab the bargains available yet. We repeat that those who have bought at high prices can now start averaging up. Remember you must average up in a rising market but never average down in a falling market.
US market ended flat on a Friday too despite unemployment in the country easing a bit (pl. see the index charts attachment).
Last edited by rijayasooriya on Mon Dec 05, 2011 8:27 pm; edited 1 time in total (Reason for editing : capital letters corrected.)