Wednesday 8 July 2009

UAE stock markets July 7th (Re-post)

No fireworks today. Various stocks (EMAAR, ARTC, DFM, AABAR, and others) bounced. The ADX index closes lower, giving creedence to the concept of the ADX DFM index ratio discussed in the previous blog post. The ratio was rejected by 1.53 and closed at 1.48 today.

The markets have a couple of days to turn in a good performance. We’re talking to you, AABAR, ARTC, and DFM.

ARMX is not sitting pretty below its recent highs, and can surprise on the downside any minute, if you know this stock’s history.

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