Dubai Financial Market faces pre-Ramadan rush to the exit so when will the bounce back come? « ArabianMoney:
"The Dubai Financial Market fell by eight per cent overnight and the 25 per cent correction since mid-May could now turn into a rout as traders rush to the exit before Ramadan and margin calls accelerate the movement to the downside. Bargain hunters are premature and likely to get seriously burned.
If history is any guide then a post-Ramadan rally is possible. But that will depend on what happens in global financial markets in the interim. They are very overvalued too and facing an oil price spike. Could it be July 2008 all over again when $147 oil brought on the global financial crisis and stocks were crucified?"
'via Blog this'
No comments:
Post a Comment