The
joke doing the rounds since yesterday is quite cheeky! It goes “Du-bai or not Du-bai that is the question”.
Ha! Quite tongue in cheekish but appropriate all the same. When the markets
open this week that’s the first question that traders and investors the world
over have to answer. In a previous article posted this month titled ‘Signs
Of A Correction’ , I remember ending that post with these words and
I quote straight from the article “A correction around this time is likely to
be a drawn out one. Price wise and time wise unless of course some big event
casts its shadow and spooks the market leading to a tremendous fall.”
The
events related to Dubai and the news that comes out of there this week has the
potential to be that ‘Big event which
spooks the market’. It’s something that can shift the Indian market from
the current bullish gear to a selling, fear driven frenzy.
