Wednesday, January 05, 2005

Black Wednesday!

The Indian bourses took a beating today. The stock market is one confused place or is it confusing place?
My first reaction after witnessing the events of Tsunami last week was that there would be a decline in the indices. But then the stock exchange traders around Asia wasted little time regretting the victims of the disaster, and Indian stock market even hit an all-time high last week. Market it seemed has no morality. And today when things have settled down, there was across the board selling. It seems the investors were expecting a correction after the rally over the last few months. Metal stocks crashed. Just yesterday, some one advised me that metal is the sector to be. I hope that guy didn't himself put his money in metals.
One good thing was that today wasn't a monday. It would have added to the confusion, what would they have called it..Blacker Monday?? ( May 17th 2004 was the original Black Monday )

I'll be black..sorry back

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