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Sri Lanka: All Share Index (ASI) crashes below key 200 day moving average

+22
limestone
laksharemk
duke
Ben Graham
kam2011
aship
rajithasamaranayake
rijayasooriya
Academic
Hiru
Gaja
insidertrader
econ
Monster
StocksWatch
Slstock
Genting
Tiger
wallstreet
tubal
Rajitha
Quibit
26 posters

Go to page : 1, 2  Next

Go down  Message [Page 2 of 2]

Academic


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Hiru wrote:Further, brokers has changed their mood from being ethical advisers to street hawkers who exchange gossips and rumors. This way is their final resort to cover monthly targets at the cost of innocent investors.

Strongly agree! We can see many shadows of such brokers on this forum it self.

rijayasooriya


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

econ wrote:I think bear market will change to bull market if SEC allows credit to the brokers. it is due to the credit restrictions that market become bear.
exceptional growth of CSE in 2009 and 2010 can be mostly attributed to the broker credits and increased investor confidence of finishing war.
I thnk T+5 day rule is the worst as it causes the forced selling and bring down the market.
If credits are allowed without much restriction market will have a bull run.
If credits are totally cancelled market will move up slowly...at least it will not come down like this.
With this T+5 day rule we can not have much hope.

rajithasamaranayake


Equity Analytic
Equity Analytic

This is a very gloomy situation. There are no fresh funds being infused to the market. Broker credit create artificial gains and has to be totally ruled out as a mean of resurrection. Market will come down further whether one likes it or not

Many institutions which posted healthy profits from capital gains in 2010 are threatened to be exposed with considerable capital losses in 2011. There is a real danger of the market going well below 6,000 to touch 5,000 scale points within the next 3 months

aship


Senior Equity Analytic
Senior Equity Analytic

Friends,

It seemed that regulators have NEVER EVER ANALYSED the market before bringing in new rulings with regard to the funding availability in the country. No constructive thinking what so ever. Aren't there any advises/consultants for them to get advised.

kam2011


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Yes , I too agree T+5 has become a devil. Stock price is continuancely dropping mostly because of force selling. If authorities allow Credit to be given by brokers according to their own criteria(may be with very lmited intervention ) market would have been performed better.T+5 effect is there now every day.

In any business credit is playing an important role. In any country wholesale business is not performed well if credit system is not there. Mostly in 4th cross street,Colombo credit is given without any document.If authorities deccide to stop credit sale in commodity market what will happened in the following day? market would definetly collapse. The same theory could apply here too.

I think this is the rime to review all such regulations adopted recently and take decision to put the market in right direction if they realy want to see improvement in the stock market and thereby establish good capital market in the country.



Last edited by kam2011 on Thu Jun 23, 2011 10:40 pm; edited 1 time in total

Academic


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

This is Sri Lanka. How many qualified people in respective fields are in the right positions? Just start thinking from the top.

Also, we have people at the top who purchased shares at 6 and sold to other at 14. If this was a developed county those people are already in jail.

This is Sri Lanka.

rendeer

econ

econ
Global Moderator

rijayasooriya wrote:
econ wrote:I think bear market will change to bull market if SEC allows credit to the brokers. it is due to the credit restrictions that market become bear.
exceptional growth of CSE in 2009 and 2010 can be mostly attributed to the broker credits and increased investor confidence of finishing war.
I thnk T+5 day rule is the worst as it causes the forced selling and bring down the market.
If credits are allowed without much restriction market will have a bull run.
If credits are totally cancelled market will move up slowly...at least it will not come down like this.
With this T+5 day rule we can not have much hope.

agreed.. T5 is the worst case.

Ben Graham

Ben Graham
Senior Equity Analytic
Senior Equity Analytic

but according to the fundamentals and future value of all the stocks in CSE, what is the accurate ASI roughly, since present ASI is a credit given value??? SEC stood high when CSE was the worlds top market. unfortunately it was riding with huge credit. The Market Capitalisation of the CSE stood at Rs. 2,210.45 Bn as at 31st December 2010. but how much credit was there??? Sad
[Mr. D Perera's portfolio was around RS 120 Billion if i am correct. wow]

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

econ wrote:
rijayasooriya wrote:
econ wrote:I think bear market will change to bull market if SEC allows credit to the brokers. it is due to the credit restrictions that market become bear.
exceptional growth of CSE in 2009 and 2010 can be mostly attributed to the broker credits and increased investor confidence of finishing war.
I thnk T+5 day rule is the worst as it causes the forced selling and bring down the market.
If credits are allowed without much restriction market will have a bull run.
If credits are totally cancelled market will move up slowly...at least it will not come down like this.
With this T+5 day rule we can not have much hope.

agreed.. T5 is the worst case.

http://www.investopedia.com/terms/s/settlement_period.asp#axzz1Q9unmWEu

In the U.S., the settlement date for marketable stocks is usually 3 (three) business days after the trade is executed, and for listed options and government securities it is usually 1 (one) day after the execution.

Do you think we should implement the T+3?

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

@slstock, @monster, @stockswatch oh shucks :blushes:

hiru wrote:If these credit restrictions had been there from 2009, ASPI would not have reached to 7500+ level but it could have shown a steady growth and there would not have been overnight-millionaires and billionaires. That steady growth could have been a positive reflector of overall economy's growth and sustainability.

What has now happened is rules have been changed with a speed more than required while there is no inducement for new crowds to invest in the share market while all inducements that existed have been muted.

Further, brokers has changed their mood from being ethical advisers to street hawkers who exchange gossips and rumors. This way is their final resort to cover monthly targets at the cost of innocent investors.

Right you are Hiru! The ASI tripled from around the time that the war ended to OCT 2010, creating a bubble! Dr Harsha de Silva named it as such and was called all sorts of names by the dumb money which was then at investnow. The Famous technical analyst who can't even spot a head and shoulders called him a traitor and a sabatuer.

The government to it's credit belatedly realized that there was indeed a bubble (maybe thanks to input from Dr Harsha) and took steps to remedy it. The 10% limit, the credit clearing rules (and their relaxation later), limitations on bank guarantees and banks exposure to stock markets, forcing EPF and SLIC to buy overpriced shares were all part of the process.

rijayasooriya wrote:I thnk T+5 day rule is the worst as it causes the forced selling and bring down the market.
If credits are allowed without much restriction market will have a bull run.
If credits are totally cancelled market will move up slowly...at least it will not come down like this.
With this T+5 day rule we can not have much hope.

So do you want the bubble to be recreated? Do you want the kind of bubble bursting that happened in Japan to happen here (refer Econ's comments on another thread). Forced selling has been discussed over and over again. IT'S NOT HAPPENING. If your stupid broker says it's happening ask him to name the company that's doing the selling. Then call that company and ask them if they really are doing it.


rajithasamaranayake wrote:This is a very gloomy situation. There are no fresh funds being infused to the market. Broker credit create artificial gains and has to be totally ruled out as a mean of resurrection. Market will come down further whether one likes it or not

Many institutions which posted healthy profits from capital gains in 2010 are threatened to be exposed with considerable capital losses in 2011. There is a real danger of the market going well below 6,000 to touch 5,000 scale points within the next 3 months

Right you are. Last year when we cautioned against companies that reported massive profits through capital gains we were laughed at. Now some of those same companies are getting hammered. It's going to create a vicious cycle and drag the market a long way down. Proof that dumb money still dominates the market is in the fact that people are outraged at capital alliances sell recommendation on Sampath and the fact that people bought heavily into ALLI - whose profit was mostly from capital gains.

duke wrote:
http://www.investopedia.com/terms/s/settlement_period.asp#axzz1Q9unmWEu

In the U.S., the settlement date for marketable stocks is usually 3 (three) business days after the trade is executed, and for listed options and government securities it is usually 1 (one) day after the execution.

Do you think we should implement the T+3?
Good one duke!!

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

tubal wrote:@slstock, @monster, @stockswatch oh shucks :blushes:

hiru wrote:If these credit restrictions had been there from 2009, ASPI would not have reached to 7500+ level but it could have shown a steady growth and there would not have been overnight-millionaires and billionaires. That steady growth could have been a positive reflector of overall economy's growth and sustainability.

What has now happened is rules have been changed with a speed more than required while there is no inducement for new crowds to invest in the share market while all inducements that existed have been muted.

Further, brokers has changed their mood from being ethical advisers to street hawkers who exchange gossips and rumors. This way is their final resort to cover monthly targets at the cost of innocent investors.

Right you are Hiru! The ASI tripled from around the time that the war ended to OCT 2010, creating a bubble! Dr Harsha de Silva named it as such and was called all sorts of names by the dumb money which was then at investnow. The Famous technical analyst who can't even spot a head and shoulders called him a traitor and a sabatuer.

The government to it's credit belatedly realized that there was indeed a bubble (maybe thanks to input from Dr Harsha) and took steps to remedy it. The 10% limit, the credit clearing rules (and their relaxation later), limitations on bank guarantees and banks exposure to stock markets, forcing EPF and SLIC to buy overpriced shares were all part of the process.

rijayasooriya wrote:I thnk T+5 day rule is the worst as it causes the forced selling and bring down the market.
If credits are allowed without much restriction market will have a bull run.
If credits are totally cancelled market will move up slowly...at least it will not come down like this.
With this T+5 day rule we can not have much hope.

So do you want the bubble to be recreated? Do you want the kind of bubble bursting that happened in Japan to happen here (refer Econ's comments on another thread). Forced selling has been discussed over and over again. IT'S NOT HAPPENING. If your stupid broker says it's happening ask him to name the company that's doing the selling. Then call that company and ask them if they really are doing it.


rajithasamaranayake wrote:This is a very gloomy situation. There are no fresh funds being infused to the market. Broker credit create artificial gains and has to be totally ruled out as a mean of resurrection. Market will come down further whether one likes it or not

Many institutions which posted healthy profits from capital gains in 2010 are threatened to be exposed with considerable capital losses in 2011. There is a real danger of the market going well below 6,000 to touch 5,000 scale points within the next 3 months

Right you are. Last year when we cautioned against companies that reported massive profits through capital gains we were laughed at. Now some of those same companies are getting hammered. It's going to create a vicious cycle and drag the market a long way down. Proof that dumb money still dominates the market is in the fact that people are outraged at capital alliances sell recommendation on Sampath and the fact that people bought heavily into ALLI - whose profit was mostly from capital gains.

duke wrote:
http://www.investopedia.com/terms/s/settlement_period.asp#axzz1Q9unmWEu

In the U.S., the settlement date for marketable stocks is usually 3 (three) business days after the trade is executed, and for listed options and government securities it is usually 1 (one) day after the execution.

Do you think we should implement the T+3?
Good one duke!!
Sorry to tell u this....Submiting large number of posts and becoming so called assistant vice president(this is not applied to others) does not mean that u are a super expert.
If u tell that forced selling is not happening in our share market either u do not have common sense and experience or u are supporting our top head lady's regime. Razz

laksharemk


Senior Equity Analytic
Senior Equity Analytic

Now that ASI closed at 6911, 39 points up. Any predictions for Monday?

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics

rijayasooriya wrote:
Sorry to tell u this....Submiting large number of posts and becoming so called assistant vice president(this is not applied to others) does not mean that u are a super expert.
If u tell that forced selling is not happening in our share market either u do not have common sense and experience or u are supporting our top head lady's regime. Razz

Ok so which company is doing the forced selling?

limestone

limestone
Manager - Equity Analytics
Manager - Equity Analytics

Some of the “Rights issues” are like “adding insult to injury” for the retailers who are unable find enough funds in a falling market . I wonder why the so called “fundamentally strong” listed companies declare Rights issues at this time

econ

econ
Global Moderator

duke wrote:
econ wrote:
rijayasooriya wrote:
econ wrote:I think bear market will change to bull market if SEC allows credit to the brokers. it is due to the credit restrictions that market become bear.
exceptional growth of CSE in 2009 and 2010 can be mostly attributed to the broker credits and increased investor confidence of finishing war.
I thnk T+5 day rule is the worst as it causes the forced selling and bring down the market.
If credits are allowed without much restriction market will have a bull run.
If credits are totally cancelled market will move up slowly...at least it will not come down like this.
With this T+5 day rule we can not have much hope.

agreed.. T5 is the worst case.

http://www.investopedia.com/terms/s/settlement_period.asp#axzz1Q9unmWEu

In the U.S., the settlement date for marketable stocks is usually 3 (three) business days after the trade is executed, and for listed options and government securities it is usually 1 (one) day after the execution.

Do you think we should implement the T+3?

if you want to give investor additional margins via brokers then give it as earlier. brokers will charge interest but no power for brokers to sell shares.
otherwise stop any margins via brokers. just give investors to buy only from their own money.
investors who want to buy on credit can do it by creating margin trading account.

this T+5 rule gives unnessary power for brokers to create market downward trend.

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

tubal wrote:
rijayasooriya wrote:
Sorry to tell u this....Submiting large number of posts and becoming so called assistant vice president(this is not applied to others) does not mean that u are a super expert.
If u tell that forced selling is not happening in our share market either u do not have common sense and experience or u are supporting our top head lady's regime. Razz

Ok so which company is doing the forced selling?
What do u mean by company? If it is broker company then answer is CT smith

csehistorian


Equity Analytic
Equity Analytic

rijayasooriya wrote:
tubal wrote:
rijayasooriya wrote:
Sorry to tell u this....Submiting large number of posts and becoming so called assistant vice president(this is not applied to others) does not mean that u are a super expert.
If u tell that forced selling is not happening in our share market either u do not have common sense and experience or u are supporting our top head lady's regime. Razz

Ok so which company is doing the forced selling?
What do u mean by company? If it is broker company then answer is CT smith

It is really interesting that this comment went unanswered, least of all by tubal who threw the challenge to name a company doing force selling. Maybe he or she didn't have a contact at CT Smith.

CT Smith is the least likely of all broker firms to carry out forced selling at the time. They don't have many retail customers and many of their customers are large foreign funds. For example some of the recent big deals in COMB and JKH are said to have been carried by CT Smith.

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Dear csehistrion,

It seems that you do the job well as your nick name. (Exploring the past posts and renewing them) Very Happy

greedy007


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Roboticfx wrote:Dear csehistrion,

It seems that you do the job well as your nick name. (Exploring the past posts and renewing them) Very Happy

Not everything but something special related to previous identity?

K.Haputantri

K.Haputantri
Co-Admin

This is a good lesson learnt the hard way. Killing the massenger had been the oder of the day. ?How many members recognised the importance of this post then.

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