Global Markets : Meltdown within 2 weeks, sell if there’s a rebound next week.
September 22, 2011 Leave a comment
We warned many weeks ago that the SET would fall below 1000, and we said sell the rebounds and be increasingly careful when buying. Our view is that within a fortnight the global markets will break below year to date lows, and will remain weak until mid to late November. For the SET we may see a bounce from 980-988 or so, but it will not go far. It will then fall below 980 and probably come off to 920-930. If there is a default in Europe which we think is very likely, then 880-900 looks entirely possible.