A New Wave of Downtrend Coming – Dubai World Debt Default

27 Nov

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.

One Response to “A New Wave of Downtrend Coming – Dubai World Debt Default”

  1. Debt Settlement Ace 2 August 2010 at 10:15 pm #

    While we are discussing A New Wave of Downtrend Coming – Dubai World Debt Default | TradeOrInvest.com, Because there are so many debt settlement companies, there is a lot of marketing hype. The old saying “if something sounds too good to be true it probably is” applies.

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