Today,we expect the market to open flat to weak. Global markets are mixed with no clear direction. The madness in the market can never be explained. Of course, we always find reasons to coincide with our views. As if the woes in the market and the economy are not enough we now have individuals who could drive the most sane crazy. We are referring to Bernard Madoff, a former Nasdaq chairman who is now infamous for one of the largest swindle in Wall Street. A giant Ponzi scheme was in play where he took investments from clients, spend the money on himself, gave around little to look good and repaid clients out of other clients' accounts.
That's the real world if you please. Let's get back to our markets where the bulls may have regained some lost ground in the last couple of days. It remains to be seen whether the current momentum can be sustained, as the bulls still lack conviction.
That's the real world if you please. Let's get back to our markets where the bulls may have regained some lost ground in the last couple of days. It remains to be seen whether the current momentum can be sustained, as the bulls still lack conviction.
For now though, one may have to deal with lots of volatility in a narrow band. Investors should remain cautious. Fresh buying should be avoided. The market needs fresh impetus to move forward.
