Now, Who is Screwing up Bursa?

The BSKL has lost almost 80 points with panic selling among the blue chips. When it rains, it pours. The dogs of war bark and the cats snarl in mutual consent. Pandemonium sets in. Sellers overwhelmed buyers selling down the tube.

So what happened? The retail players panicked; especially those fresh greenhorns-the speculators who played on borrowed funds and margins. The scurried away in fear. Those who went in just before Chinese New Year and those who bought heavily after coming back from the holidays got it in the butt big time.

Fund managers relinquished their holdings across the board so that they can come in again at a better price for good blue chips. This mass selling coupled with bad news from China, the rise of oil prices, the interest hike in Tokyo and not so favourable news on Dow Jones brought the market down. The worst thing to happen this morning was the Shanghai and Shenzhen markets were down because of computer failure. Imagine that! The whole market was spooked once more and blood-letting continued.

We all know the market ran up too fast. We all know it needed a rest. But not like this- a bloodbath! So who's scewing up the Bursa? Fund managers-that's who!

Sometimes, it is good to listen to your own natural instincts. That chap who said that the CI will go beyond 1400 was surely speaking through his hat. He must have a good time chewing it up now! Those who left at about the 1270 level were great players. They can come in again now and play Round 2.

Be that as it may, it's the same game again and again. The blue chips will spring back in no time. The second liners will be slow on the come-back but some good under-priced penny stocks will spurt up once more.

Did you buy in when the index was down this morning? If you did, then there is a great possibility that the market could have hit bottom and you are on your way to make some mucho dinero.


Quote of the Day

"All God's angels come to us in disguise." James Russel Lowell

Heartsong