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Black Friday as Sensex plunges below 9000 ! Do not panic !
By admin | October 24, 2008
The market is below 9000 now (8701). History repeats itself & the cyclical nature of the Market repeats itself. Now the Primary Trend or the Impulse Phase of Dow Theory and Elliot Wave Theory is Bearish. There are pullbacks, but then they cannot be sustained.
The quintessence of Contrarian Investing is that one should invest at the Nadir. But we dont know the Nadir yet. We will have to wait. Wait we must, as the world is going through a Global Financial Crisis.
Once the Nadir or the rock bottom level is got, again we must wait. Because the market may lie low for some months, after touching the Nadir !. Only when the market exhibits bullish signals should we buy !
Another Black Friday as world indices came crashing down. Dow at 8691, Nasdaq at 1603, Nikki at 7649, Strait Times at 1600, Taiwan 4579, Kospi 938 & FTSE at 3795 !
Do not panic. Hold on and wait for a few months. Patience is the greatest virtue !
Topics: Stock Market Astrology |
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