02.25.09
20090225
The WIG Index opened high, but fell during day:
As per yesterday’s post – not much can be said and we have to wait for market actions. The primary trend still favors south direction.
The Polish Monetary Policy Council lowered interest rates by 0.25% to 4% (here).
As per Holder portal, 56.5% of total polish mutual funds’ transactions were selling shares (here).
The Northern Trust partied a little bit too much (here or here).
I’ll be out for a week, therefore don’t expect new updates during this time.
Sources:
[http://www.thedisciplinedinvestor.com/blog/2009/02/24/party-at-northern-trust-concert-and-drinks/]
[http://news.morningstar.com/newsnet/printNews.aspx?article=/dj/200902241803dowjonesdjonline000652_univ.xml]
[http://gielda.onet.pl/0,1923276,wiadomosci.html (via Google Language Tools)]
[http://www.holder.com.pl/fm.shtml?id=6727&fm=11154&c=37378025020 (via Google Language Tools)]
02.24.09
20090224
The WIG Index fell -0.79% today:
Negative divergences in RSI and CCI seem to confirm the downtrend. Also, lowering volume could give us some clues about timing.
Nevertheless, those are subjective interpretations and we simply have to wait for market actions as not much can be said right now.
Brian’s video for today (here).
02.23.09
20090223
The WIG Index lost -0.80% today:
The volume was small. The gap from last week acted as a resistance, but really not much else can be said after today’s session. The pattern of lower high and lower low is well visible and that favors the downtrend.
There is quite bearish interview with Peter Schiff (part one, part two, part three) about US economy.
The polish government is planning to enter ERM2 channel quite soon (here).
Brian’s video for today (here).
