Technically, the Nifty is showing strength, but signs of getting tired. The bull market is now running on speculation and emotion, and there is no fundamental support under the market.
The Dubai event is a good example of the kind of thing that has the potential to start a wave of selling. There are probably hundreds of them waiting in the bushes. Taken one at a time, they may only cause a momentary ripple. If too many pop out at one time, it could end in disaster.
Friday, December 11, 2009
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