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Since last week ASPI was increasing but my portfolio is negative for over 7 days. I have fundamentally strong stocks and a well diversified PF. I have shares in diversified and banking sectors as well. Everyday, I have been losing but the ASPI is advancing.
The reason is that a very few illiquid shares increase significantly with very low volumes. This will mislead many new investors who are studying the market. Similarly, when Carsons group increase, the whole market will go green. Personally, I don't hold any Carsons group shares as I feel that they are very much over valued.
Personally I feel that some level of manipulation is happening in the market may be intentionally or not. WAPO has been increasing rapidly over the days and increased over 100% within a few days. However, SEC turning a blind eye on it. Similarly KZOO, UCAR, HUNT, ALLI, PHAR and NEH being used as an instrument to manipulate the market. When you analyse these illiquid shares, only a few shares would have been traded but it pushes the ASPI and make it green. True picture is that market is in a correction mode with lots of negative counters.
I think the reason for decline in the market is as a result of Union bank IPO. Investors are dried up as they have heavily invested on this IPO. Can't even imagine about 60 IPOs this year. The market might go to grave if it happens. This will suck the liquidity in the market and the market will be red majority of 2011. I'm thinking seriously to exit the market untill all this IPO dramas are over.
SEC must take some action to safe guard the investors. When imposing price band they should look at the % increase in price and not the quantity. Similarly, they shoul control the flow of IPOs and leave enough gaps between IPOs so that the market can recover and investors too will have funds to invest while keeping their existing shares.
The reason is that a very few illiquid shares increase significantly with very low volumes. This will mislead many new investors who are studying the market. Similarly, when Carsons group increase, the whole market will go green. Personally, I don't hold any Carsons group shares as I feel that they are very much over valued.
Personally I feel that some level of manipulation is happening in the market may be intentionally or not. WAPO has been increasing rapidly over the days and increased over 100% within a few days. However, SEC turning a blind eye on it. Similarly KZOO, UCAR, HUNT, ALLI, PHAR and NEH being used as an instrument to manipulate the market. When you analyse these illiquid shares, only a few shares would have been traded but it pushes the ASPI and make it green. True picture is that market is in a correction mode with lots of negative counters.
I think the reason for decline in the market is as a result of Union bank IPO. Investors are dried up as they have heavily invested on this IPO. Can't even imagine about 60 IPOs this year. The market might go to grave if it happens. This will suck the liquidity in the market and the market will be red majority of 2011. I'm thinking seriously to exit the market untill all this IPO dramas are over.
SEC must take some action to safe guard the investors. When imposing price band they should look at the % increase in price and not the quantity. Similarly, they shoul control the flow of IPOs and leave enough gaps between IPOs so that the market can recover and investors too will have funds to invest while keeping their existing shares.
