It’s going to be a long, painful and rocky ride on the way up, whenever the market stabilizes. What's worse, every rally will see selling pressure, as fresh buying will elude the market. Earnings growth will be capped. Be very choosy and pick top quality companies that too only for long-term (2-3 years at least).
The outlook for today remains murky given the fragile global markets and unprecedented level of panic. One mildly positive factor is that the US stocks didn't fall as hard as the rest of the world did on Friday. Our Asian peers, however, haven't taken any solace from that, and are down sharply (barring the Nikkei). We also have the F&O expiry on Wednesday. There may be some bounce from lower levels today, but don't bet on a big rally as yet. Just trade for Mahurat.
