Hi fellow investors & stock traders,
Be prepared for a new leg of downtrend coming next week starting from 30 Nov 2009. News that Dubai World, the emirate’s main development engine, was asking creditors to delay paying back its $60 billion debt, triggered a heavy selling pressures on the equities and commodities market. Hong Kong’s Hang Seng Index (HSI) dropped -1,075.91 points (-4.84%) to 21,134.50. Japan Nikkei dropped more than 300 points to 9,081.52.
Be prepared for heavy selling pressure on the US stock markets today as it re-open after yesterday holiday. Expect more selling pressures next week. It’s time for a stronger correction to the previous rally.