advise on saudi market PLS.

R

randommuse

Forget what you may have read or heared about it .Few fundemntaly sound thick stocks that are used to control the main over all market indicator called TASI, the rest are all accumelation and distribution game on thin stocks .

I tried all commonly known indicators to gauge the acc-distrib cycles but all failed. so much Wash sales ,Pass the Parcel ,Churning and burning , Matched orders etc.. done by groups .

Appreciate any help on how to approach such market technically?related to accumelation and distribution .

doubl , triple in price up and then down is not uncommon here .we are in bear market since Feb 2006 , coupled now with financial crisis of the world , we see some reactions every few months ( some stocks just go and do what ever the state of its acc-distr. regardless of the market as a whole.

i have been trading for the last 7 years with some success ( day trading - swing trading ) , read most of the books recommended here , i hope the answers takes that into account.

thank you

P.S : this is the greatest forum there is on trading , people here are really experince and i benifited alot by reading their posts , thank you all .
 
Quote from risktaker:

Trouble is, just about nobody here knows anything about trading stocks/futures/oil in Saudi Arabia.
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thank you .

However , my question is related to technical analysis related to accum - Distr , and not saudi market per se .
I can say with confident , its the same trading as nasdaq - ECN.
and we have limit up or down daily of 10% of price.
 
Hate to break it to you but all this technical analysis'accumulation-distribution' is mostly bull shit. It only works in hindsight, unless you're a market maker & can definitely see order flow & can confirm it. For the public at large, it's nearly impossible to determine if something in the stock market is being accumulated, other than the fact price will usually be creeping upward.

Hey, is Saudi market open or closed to foreigners?

Maybe if you create demand from foreigners, they'll begin to accumulate some stock!:D


Quote from randommuse:

thank you .

However , my question is related to technical analysis related to accum - Distr , and not saudi market per se .
I can say with confident , its the same trading as nasdaq - ECN.
and we have limit up or down daily of 10% of price.
More...
 
Quote from risktaker:

Hate to break it to you but all this technical analysis'accumulation-distribution' is mostly bull shit. It only works in hindsight, unless you're a market maker & can definitely see order flow & can confirm it. For the public at large, it's nearly impossible to determine if something in the stock market is being accumulated, other than the fact price will usually be creeping upward.

Hey, is Saudi market open or closed to foreigners?

Maybe if you create demand from foreigners, they'll begin to accumulate some stock!:D
More...

Yes , that is one school thoughts on technical analysis in general , well , its a long story , but you know the debate.Iam kind of in the middle now , and have my doubts.

up to now , saudi market are open for foreigners in indirect way , where you can buy Saudi mutual funds and there are plenty , the most secure reliable ones are the ones sponsored by saudi banks, like samba , sab ( saudi american bank , saudi british banks) and 12 others.
But , they are losing right now , they used to double your investment in a year , but since the crash in feb 2006 , they are losing and many suadis are taking their money out and trade directly . as an investment , 5, 10 years ,they may be good.

as direct trading , they say its in the plan , but no one knows when yet .
 
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