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BSE SENSEX Implosion
- Thread starter drsteph
- Start date
Why anyone is surprised by this is I dont know but did you really think the rallies in these markets were going to keep going, that index had such a run it was due for a correction, now with every other country slowing down including ours the next thing to sell are commodities, that trade to me is going to be over sooner than later, also sell emerging markets, that trade has been over for months now.
Well, I don't think anyone is really surprised by it but the chinindia trade is really two separate trades. India is a partner, china is a competitor. India service based, China production based.
I'm simply commenting on it. Seems to me once these foreign markets reach 50% retracements, there is relatively little additional downside. Recall SENSEX's 30% retracement in Spring-Summer 2006 and the resultant rally. While I am NOT suggesting such a thing at this time, as world conditions are different (and rather poor), I am wondering aloud where and when the sensex will be a value play. As far as shorting EEM, I have absolutely no opinion. Too many divergent markets.
I'm simply commenting on it. Seems to me once these foreign markets reach 50% retracements, there is relatively little additional downside. Recall SENSEX's 30% retracement in Spring-Summer 2006 and the resultant rally. While I am NOT suggesting such a thing at this time, as world conditions are different (and rather poor), I am wondering aloud where and when the sensex will be a value play. As far as shorting EEM, I have absolutely no opinion. Too many divergent markets.