Sunday, October 26, 2008

MSM bounces back down again

Just to keep you up to top speed, another bad day for the Muscat market today. Down down down by around 9% to its lowest since late 2007 at ~6506.

MSM 30 Index today

Bank Muscat back to 0.900 biasa, below where I tipped it last week (but you already sold on the bounce, right?).

Still think there's money to be made on the volatility combined with the fundamental floor the Government must place under the big public/private companies (BM, Omantel, NBO).

There will be lots of ups and downs to come. Try to sell the highs and buy the lows.
Posted by Undercover Dragon at 7:10 PM
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2 comments:

  1. AnonymousOctober 26, 2008 at 10:44 PM

    I have many friends who have lost a lot of money. And land prices are dropping fast too.

    Be careful

    ssdx

    ReplyDelete
  2. AnonymousOctober 26, 2008 at 11:38 PM

    Ups and downs? I maintain that the general direction is down, apart from occasional blips of good news and/or injections into the system.

    You should share the tips on how to spot the blips / trends. Otherwise I fear someone (maybe ssdx?) would be out for your head very soon ;)

    ReplyDelete

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