Typically October month is notorious for market volatility since all major market crashes have come in the month of October. But looks like 2007 October has started with a big bang with 2 big market rallies on Monday and Friday with Nasdaq jumping nearly 2.9% in one week. Next week earnings season starts in earnest and since there are no major pre-warnings, this earnings season should be pretty good.
International markets especially emerging markets are on fire with BSE sensex almost touching 18000. If I have to make bold prediction, I won't be surprised if BSE sensex touches 20000 by the time 2007 wraps-up. That would be more than 100% jump since I was in India in June 2006.
Even though Shanghai market was closed, all Chinese ADRs trading in US were highly volatile. One day, they were down by 5-10% and next day they were up by 5-10%. Is trading in Chinese stocks is becoming like gambling or fundamental landscape in valuations of these companies is changing? I hope it is later and Chinese govt will make sure that it supports stock market at least till Olympics in 2008 (one of my team member who is originally from China told me that number 8 is considered very lucky in Chinese culture)
Started reading Age of Turbulence by Alan Greenspan - interesting book especially for me since I like macro-economic factors impacting countries and economies. In Nov, MBA finance club has arranged tour to Omaha to meet Mr Warren Buffet. Myself and one of my friend are planning to go. It would be dream come true to meet greatest investor of all time!
Good night for now !
/Shyam
International markets especially emerging markets are on fire with BSE sensex almost touching 18000. If I have to make bold prediction, I won't be surprised if BSE sensex touches 20000 by the time 2007 wraps-up. That would be more than 100% jump since I was in India in June 2006.
Even though Shanghai market was closed, all Chinese ADRs trading in US were highly volatile. One day, they were down by 5-10% and next day they were up by 5-10%. Is trading in Chinese stocks is becoming like gambling or fundamental landscape in valuations of these companies is changing? I hope it is later and Chinese govt will make sure that it supports stock market at least till Olympics in 2008 (one of my team member who is originally from China told me that number 8 is considered very lucky in Chinese culture)
Started reading Age of Turbulence by Alan Greenspan - interesting book especially for me since I like macro-economic factors impacting countries and economies. In Nov, MBA finance club has arranged tour to Omaha to meet Mr Warren Buffet. Myself and one of my friend are planning to go. It would be dream come true to meet greatest investor of all time!
Good night for now !
/Shyam
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