India: Market update

Friday, October 24, 2008

The market closed down a whopping (11%):
Sensex 8,701 (1,071) or (11.0%)
Nifty 2,584 (359) or (12.2%)


Realty (24.4%)
Banks (12.6%)
Metals (12.1%)
Oil/Gas (15.0%)

Europe is down 7% and US futures opened limit down and have frozen many times in European trading.

Prognosis for Monday is not good for Indian and Asian markets.  My target levels for buying have been reached and yet the liquidity event I am anticipating has not occurred...I am still on the sidelines.

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