It is fashionable to think that there is a convergence of markets : so if New York catches cold, Mumbai must sneeze!!!The better than expected performance by Infosys kept optimism on a day the global fears rattled the markets. Asia sympathized with Wall Street as it turned sellers.
To fly into gold continued to be a conservative's labor! As Europe totters, and oil slides, Russia also would weaken with its impact on all where Russians invest. The ruble cannot be defended easily in a falling market. The Russians might like a gradual fall; but the market laden with hard currency shortages might not toe the same line.
Metals fell , Europe stumbled, Fed was soft and the markets staggered. There has been a bout of pervasive pessimism.
So tonight as New York opens and Asia drifts off, the markets need to recover. The sentiment has to turn. New York has to lead in trend reversal for the sake of the coming week! There is much to be optimistic about in falling oil and employed Americans. Forget the Europeans, they have neither the men nor the machines.
To fly into gold continued to be a conservative's labor! As Europe totters, and oil slides, Russia also would weaken with its impact on all where Russians invest. The ruble cannot be defended easily in a falling market. The Russians might like a gradual fall; but the market laden with hard currency shortages might not toe the same line.
Metals fell , Europe stumbled, Fed was soft and the markets staggered. There has been a bout of pervasive pessimism.
So tonight as New York opens and Asia drifts off, the markets need to recover. The sentiment has to turn. New York has to lead in trend reversal for the sake of the coming week! There is much to be optimistic about in falling oil and employed Americans. Forget the Europeans, they have neither the men nor the machines.
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