Did any-one find something common in last 3 (big) crashes........?
1. May-2006, market crashed on a rumer of banning of 11 fii.....leter-on FM issued an statement and it recovered........ and from next day......it was down.......down....and down
2. Nov/Dec......SEBI chief issued a statement on P notes in......next day.....sensex created history.........letter on again a statement issued by FM and it closed flat.......but from next day........
3. 29th Feb, market was volatile........it was budget day......market crashed and recovered after finishing the lecture by FM ...(I guess....after the lecture.....FM issued some instruction to LIC/UTI funds for buying......)
In all 3 crashes one thing is common and that is FM or govt. official's statement .........
BTW, I am still in confusion what magic was in statement of FM that market recovered.........and if there was a really magic/trust of buying houses (in his statement) why it couldn't be remain for next days......??
Few peoples blams global impect.......well, dow is trading in range of 12 k to 14 k since more than last 2 years.......if the impect was really effected.......how sensex doubled.......??