Sri Lanka stocks slump 1.3-pct

Tiger · 1 Sri Lanka stocks slump 1.3-pct Thu Jul 21, 2011 6:30 pm

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"Sri Lanka stocks slump 1.3-pct
July 21, 2011 (LBO) - Sri Lankan stocks slumped Thursday with the main index reaching the lowest level this year and brokers saying many shares were overvalued and foreigners were getting out of the market."

I found the above hilarious article in LBO, this is the very 1st time that I have seen that the brokers accepting stocks are overvalued. If I am not wrong until last week all these brokers were recommending all sorts of shares citing strong fundermentals, bargain hunting and so on...
Many members in this forum warn this well in advance this situation, and it was mostly broker advises that put many investors in jeopardy.

Academic · 2 Re: Sri Lanka stocks slump 1.3-pct Thu Jul 21, 2011 6:50 pm

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Tiger wrote:"Sri Lanka stocks slump 1.3-pct
July 21, 2011 (LBO) - Sri Lankan stocks slumped Thursday with the main index reaching the lowest level this year and brokers saying many shares were overvalued and foreigners were getting out of the market."

I found the above hilarious article in LBO, this is the very 1st time that I have seen that the brokers accepting stocks are overvalued. If I am not wrong until last week all these brokers were recommending all sorts of shares citing strong fundermentals, bargain hunting and so on...
Many members in this forum warn this well in advance this situation, and it was mostly broker advises that put many investors in jeopardy.

Yes. It is very sad to see the phrase "fundamentally strong" is the most misused words in the CSE. They use these words without referring to any fundamental.

tubal · 3 Re: Sri Lanka stocks slump 1.3-pct Thu Jul 21, 2011 7:12 pm

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I must break my silence to point out that Aturupane/Capital Alliance and Jafferjee/JBS have been saying stocks are over valued for quite a while.

All the others however have been urging (in fact pleading) us to buy, buy, buy saying stocks are at bargain. I warned against following that advice many times.

Antonym · 4 Re: Sri Lanka stocks slump 1.3-pct Thu Jul 21, 2011 7:37 pm

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@tubal - Great that you've broken your silence; hope you will continue to share your wisdom with those of us who are willing to listen.

Talking of JBS, I opened my account with them for only 1 reason: Because Jafferjee (CEO of JBS) said, “My recommendation is to take 50% of one's chips off the table." That was in September 2010, when almost everyone else was in a buying frenzy... The rest, as they say, is history! Smile

godswen · 5 Re: Sri Lanka stocks slump 1.3-pct Thu Jul 21, 2011 7:44 pm

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Have yall checked on global markets? US markets just opened and they are on a run, there's positive news on Greece I read, I'm not sure how related this news to the CSE, But to be positive I guess CSE will have a turn tomorrow since it was also declining on past few days, But this would not be the end of the bear! Be cautious! Smile

ha_na · 6 Re: Sri Lanka stocks slump 1.3-pct Thu Jul 21, 2011 7:49 pm

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godswen wrote:Have yall checked on global markets? US markets just opened and they are on a run, there's positive news on Greece I read, I'm not sure how related this news to the CSE, But to be positive I guess CSE will have a turn tomorrow since it was also declining on past few days, But this would not be the end of the bear! Be cautious!

agreed 100%

Rajaraam · 7 Re: Sri Lanka stocks slump 1.3-pct Thu Jul 21, 2011 9:24 pm

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Good news goodwen.m Thank you for sharing.

suranga · 8 cse today Thu Jul 21, 2011 10:06 pm

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vvb
www.cse.lk

Marketinvest · 9 Re: Sri Lanka stocks slump 1.3-pct Thu Jul 21, 2011 10:09 pm

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I am also expecting the same, the market to be green atleast on the final day of the week and Monday as well. Lets hope for the best

Anna Panna · 10 Re: Sri Lanka stocks slump 1.3-pct Fri Jul 22, 2011 2:56 am

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Those brokers are the real financial crooks, and they earn from both sides when we buy and sell, for acting just like computer operators.
Also, they normally get the market down when they want to collect for their "Company Account" and then they sell it later, sometimes even for marginal profit. Under such conditions, market cant come up.
Just see the huge amount of profit by those broker companies in last two years.

I really feel sorry about poor retailers who have already got their fingers burnt, under the advice of such immoral financial crooks.