29 September 2011 – Bear markets continue slide

Most stock markets slid over the past 24 hours. The Dow Jones slid back to 11,010.90, a loss of 1.61%. Other markets in the Americas, such as the Canadian TSX (-1.99%) and Brazilian BOVESPA (-1.21%), likewise dropped. Europe provided no shelter for equity traders as the European STOXX (-0.79%), U.K. FTSE 100 (-1.44%), French CAC 40 (-0.92%) and German DAX (-0.89%) all declined. Asian stock futures point to another bearish trading day.

Local traders appear to have assimilated all of the above and have driven the PSEi lower by 48.9 points in early trading. Traders should think carefully as sentiment does not look good. In my humble opinion, initiating long positions remains inadvisable. Avoid.

Cash is King.

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5 Responses to 29 September 2011 – Bear markets continue slide

  1. “Cash is King”… such a catchy phrase 🙂 So I bet you’ve gotten yourself into a liquid cash position already? To fundamentalists, “Cash Is King” would mean differently… 😀

  2. Ipit Investor says:

    Hi.. how would “Cash Is King” mean to fundamentalists as different from being in a liquid cash position?

    • abitrade says:

      “Cash is King” can mean a company has fundamentally healthy cash flows (e.g. growing cash hoard from good operating profits), or technically, it can mean it’s a good time to hold a large % of one’s assets in cash instruments (e.g. in bear markets).

  3. Ipit Investor says:

    Thanks!!

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