Today Market

DANSAL TODAY @ CSE ..........

lot sale..........

This bear seems to be exaggerating and accelerating. From Feb 14th low when ASI was at 4960 , so many counters have lost 30-40% and some over 90% . Fundamental and non fundamentals equally are hit. Only a few selected share has beaten the market.

If this is a natural market there should be some short term recovery for day or too as the bear is going far too long. But is it natural? Last time I remember bear ruled for 8 days until we had atleast 2 days of green. Now it is nearly 10 days of constant gradual loosing for MPI. ( just 1 green day for ASI which was a clear manipulation) If ASI hits 5000 again, it will be far far worse than feb 14th

When will this stop? All I can say is we have nearly 10 days of bear without a bull. So ... should we expect a turn around or a sudden drastic drop or gradual further bleeding?

AS we said before this ASI does not show the true picture. market is getting weaker and weaker and investor confidence is lost day by day making it even weaker. We need a huge capital boost for some consecutive days and some serious reatailer participation make the market up. There isolated crossing are not doing to do any good to make a short term market recovery. Most shares as I feel have being sold at bargain prices disregarding it value or potential value. IF more people panic and no retailer participation is there worse can come. But to long term share holders gold mines are uncovering day by day. But only for the patient and for those how do not mind if there is a further drop of share prices. To some 20% loss short term is okay if one can gain 100% from purchase price in the l onger term. Then other will argue why buy now it you can buy 29% cheaper. Are you short term . medium term or long term?

Yes if down trend starts,this time not like Jan-Feb. Disaster...

But there might be a small chance to up the market in coming days.Only my gut feeling.If some good thing not happen in this week,We can see the disaster.

slstock wrote:
This bear seems to be exaggerating and accelerating. From Feb 14th low when ASI was at 4960 , so many counters have lost 30-40% and some over 90% . Fundamental and non fundamentals equally are hit. Only a few selected share has beaten the market.

If this is a natural market there should be some short term recovery for day or too as the bear is going far too long. But is it natural? Last time I remember bear ruled for 8 days until we had atleast 2 days of green. Now it is nearly 10 days of constant gradual loosing for MPI. ( just 1 green day for ASI which was a clear manipulation) If ASI hits 5000 again, it will be far far worse than feb 14th

When will this stop? All I can say is we have nearly 10 days of bear without a bull. So ... should we expect a turn around or a sudden drastic drop or gradual further bleeding?

AS we said before this ASI does not show the true picture. market is getting weaker and weaker and investor confidence is lost day by day making it even weaker. We need a huge capital boost for some consecutive days and some serious reatailer participation make the market up. There isolated crossing are not doing to do any good to make a short term market recovery. Most shares as I feel have being sold at bargain prices disregarding it value or potential value. IF more people panic and no retailer participation is there worse can come. But to long term share holders gold mines are uncovering day by day. But only for the patient and for those how do not mind if there is a further drop of share prices. To some 20% loss short term is okay if one can gain 100% from purchase price in the l onger term. Then other will argue why buy now it you can buy 29% cheaper. Are you short term . medium term or long term?

slstock wrote:
This bear seems to be exaggerating and accelerating. From Feb 14th low when ASI was at 4960 , so many counters have lost 30-40% and some over 90% . Fundamental and non fundamentals equally are hit. Only a few selected share has beaten the market.

If this is a natural market there should be some short term recovery for day or too as the bear is going far too long. But is it natural? Last time I remember bear ruled for 8 days until we had atleast 2 days of green. Now it is nearly 10 days of constant gradual loosing for MPI. ( just 1 green day for ASI which was a clear manipulation) If ASI hits 5000 again, it will be far far worse than feb 14th

When will this stop? All I can say is we have nearly 10 days of bear without a bull. So ... should we expect a turn around or a sudden drastic drop or gradual further bleeding?

AS we said before this ASI does not show the true picture. market is getting weaker and weaker and investor confidence is lost day by day making it even weaker. We need a huge capital boost for some consecutive days and some serious reatailer participation make the market up. There isolated crossing are not doing to do any good to make a short term market recovery. Most shares as I feel have being sold at bargain prices disregarding it value or potential value. IF more people panic and no retailer participation is there worse can come. But to long term share holders gold mines are uncovering day by day. But only for the patient and for those how do not mind if there is a further drop of share prices. To some 20% loss short term is okay if one can gain 100% from purchase price in the l onger term. Then other will argue why buy now it you can buy 29% cheaper. Are you short term . medium term or long term?

Yes slstock, it looks market is going to sink further to a dangerous position. It's a situation where we can't trust the technicals any more.
Small investors have lost confidence and leaving the market (Domestic sales are more than purchases on a daily basis). Todays drop in the indicators gives a scare picture as their wasn't any worthy counters on the price appreciation.
Can we expect a healthy capital inflow other than the small foreign inflow?

Earlier EPF comes to the assistance of stabilising the market to some extent. But now they are interested in selling their stocks only to foreign investors to obtain dollars to assist the government's foreign reserves. Further, they don't seem to utilise the sales proceeds to purchase stocks, which is a real danger.

Hence, personally I don't foresee any big capital inflow in the near future unless the government and the regulators put their thinking caps on to give a boost to the market.
They were very good at bringing the market down, therefore they should have the capacity to up the market.

Hmm, ASI RSI not in the over sold yet but many counters are in a big mess. Even some fundamentals closer to feb 14th prices. Many have gone down below Feb 14th. Can we expect a sudden short term turn around, or further drop ( maybe drastic) before an uptrend. Think we nearly had 11 red days in a row( for MPI)! Wow. Talk about retailer leaving market.


Waiting for further results for march quarter.

slstock wrote:
Hmm, ASI RSI not in the over sold yet but many counters are in a big mess. Even some fundamentals closer to feb 14th prices. Many have gone down below Feb 14th. Can we expect a sudden short term turn around, or further drop ( maybe drastic) before an uptrend. Think we nearly had 11 red days in a row( for MPI)! Wow. Talk about retailer leaving market.


Waiting for further results for march quarter.

@slstock: After a long time, I sold some shares today. With the ASI dropping below a key short term support at 5300, the scenario looks bad. There is heavy selling pressure on most counters. Today's Advance:Decline Ratio was 10:1.

Foreign buying is the only silver lining, but they would be buying for the medium term.

I believe that we will see a further decline of at least 10% before the slow climb starts. Technically, I am waiting for 4736.

Antonym wrote:

slstock wrote:
Hmm, ASI RSI not in the over sold yet but many counters are in a big mess. Even some fundamentals closer to feb 14th prices. Many have gone down below Feb 14th. Can we expect a sudden short term turn around, or further drop ( maybe drastic) before an uptrend. Think we nearly had 11 red days in a row( for MPI)! Wow. Talk about retailer leaving market.


Waiting for further results for march quarter.

@slstock: After a long time, I sold some shares today. With the ASI dropping below a key short term support at 5300, the scenario looks bad. There is heavy selling pressure on most counters. Today's Advance:Decline Ratio was 10:1.

Foreign buying is the only silver lining, but they would be buying for the medium term.

I believe that we will see a further decline of at least 10% before the slow climb starts. Technically, I am waiting for 4736.

4736
i dnt think so

btw what shares you sold? and how long you have been holding them?
is it CFI,CIT or something?
just to know

mark wrote:

Antonym wrote:I believe that we will see a further decline of at least 10% before the slow climb starts. Technically, I am waiting for 4736.

4736
i dnt think so

btw what shares you sold? and how long you have been holding them?
is it CFI,CIT or something?
just to know

@mark: You are amazing! Do you read minds also? Yes, I sold some CFI today - at a profit, I must add. Are you also active in those shares? PM me your views.

Btw, for Fibonacci followers: 4736 is 50% retracement of the uptrend that started at 1608 (in Mar-09) and peaked at 7864 (Feb-11).

Antonym wrote:

mark wrote:

Antonym wrote:I believe that we will see a further decline of at least 10% before the slow climb starts. Technically, I am waiting for 4736.

4736
i dnt think so

btw what shares you sold? and how long you have been holding them?
is it CFI,CIT or something?
just to know

@mark: You are amazing! Do you read minds also? Yes, I sold some CFI today - at a profit, I must add. Are you also active in those shares? PM me your views.

Btw, for Fibonacci followers: 4736 is 50% retracement of the uptrend that started at 1608 (in Mar-09) and peaked at 7864 (Feb-11).

hehe,as my favorites are CINS,CTC,
your favorites are CFI,CIT ne

ya,i was watching and trading CFI,there was a considerable qtys traded at 150 levels in last weeks just before it was pushed to 200 levels,
i dont know why,but it seems someone wants to keep price level at 200 range

ohh,i dont know much abt fibonachchi,i understand hw u got 4736,but i cldnt imagine prices at 4736 level ,the problem is this high interest rates ,people withdraw money selling at loss and put in FD s,you see everyday shares touching 52wk lows,so no one like to buy and suffer,so no buying and prices going down..

i was wondering about a short term pick up

Wow, what an exciting day. Simply fun to watch counters reeling like a pack of cards. Actually how many guys fore saw a situation like this ? Those who read the market correctly are having a great time. Any way a good lesson to all those pundits, who thought some time back, they were collecting bargains which are now sure headaches. More to go guys....

http://forum.srilankaequity.com/t9363-cfi-up-buy50-rupeeswill-cit-follow

antonym you were unlucky not to sell it above 300.Read this post.