Wonder of CSE.
Market from overbought (for 1.5 months) to Neutral in 2 days!
Things happening very quickly at CSE.
There seem to be "you know who" panic setting after looking at today. 5 counter contributed 2/3 of the drop.
If this keeps up for 2 more days at the same rate it will be over sold. Will give foriegner more chances to collect.
Will I get a outside chance to buy JKH for PE of 16 ?
Best option now is for market to go up on Monday afternoon or Tuesday to reduce this panic . Time will tell. Continous drop will not be good.
I hope market does not drop below ASI 6100 in the worst case. Really there is no reason to unless all the big ones correct and others panic.
Will be good to stabilize around 6200-6300 for a while. some shares to go up and some shares to go down ;-)
If it behaves like the last few days when JKH andLLUB corrected while other countered it , it will be smoother stabilization. .
Amazing how "you know who" like to race. Either upwards or downwards.