It is said, tongue firmly in cheek, that if stock market analysts and gurus were really as smart as they try to convey they are, they would really be out there making the money they want us to make.
It’s a sobering thought to consider on the day the Bombay Stock Exchange had the biggest intra-day fall since May 17, 2004. The following has been the bungee movement of the Sensex.
May 9: Sensex closes at 12513, up 51 points
May 10: 12612, up 98 points
May 11: 12435: down 177 points
May 12: 12285: down 150 points
May 15: 11822: down 463 points
May 16: 11873: up 51 points
May 17: 12217: up 344 points
Today, May 18: 11391: down 826 points
The Sensex, in other words, has lost 1,221 points from his high of May 10. And Mark Faber was saying on CNBC a couple of nights ago that it could go down 30 per cent down its lifetime high. Global cues?
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