Thursday

Bloodbath

Post a Comment November 26, 2009 – 9:06 pm |   | Permalink |  Print This Post |

Apologies for the absence - we have had a very busy week. This post will be short. We wrote a few weeks ago that this will be the incubation for all our positions. We have dug deep and will be holding our ground against the bulls. Last night, the “excuse” for a crash came in the form of fears of Dubai defaulting their debt. Whilst we expect markets to take a big hit, DO NOT be surprised for markets to recover in a few days back to previous highs. This pattern which we have been talking about is not uncommon (multiple peaks before a slow and steady decline). Hang Seng, China, India, Dax in many ways have done that (we can count at least 2 peaks). We closed one of our Hang Seng positions in our personal portfolio yesterday at 22220 - as usual markets decide to tank right after that!