Monday, June 9, 2008
Bear invasion from Mars
The market sentiment is now as bearish as in March and nothing is worth owning. Lehman brother's reported a catastrophal loss at 2.8 billion dollars followed by a tradingstop in the Swissborn bank USB. This after speculation about huge subprime losses and suspicion about a share subscription right problem. Either way, the fog is probably becoming clearer for the masses and we are not likely to see a turnabout for most indicies in the near future. Stay bearish and stay alert, the sentiment can change extremely fast.