Everyday the market has been losing 50 to 100 points and this has become a pattern now.
It seems by the end of this year we will be somewhere around 4000 points.
Towards the end of the year situation may be worse than this as SEC is planning to list some Maldivian hotels and some foreign companies at CSE.
Nowadays, I like Saturdays, Sundays and Poya days and the days when market is closed. I would love to see if they can keep the market shut for a month and re-open. I didn't check my portfolio for 2 months because everything is red.
Fortunately, I managed to sell around 50% of my portfolio at a big loss but feel very happy that I have minimised the loss. The remaining lot too will be sold soon at a huge loss. I feel it will be a wise decision.
I have no hopes for 2011 as SEC is planning for more and more IPOs and foreigners are pulling out from the market. Hope 2012 will be ok.