TSX:TECK.A - Post by User
Post by
dudediligenton Dec 03, 2008 1:37am
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Post# 15624272
Market Unrest
Market UnrestNot so sure that we have seen the worst of this crisis as of yet. The market seems to be trading very cautiously and in addition we are nearing the end of the year tax loss selling. Don't think for a minute that the market doesn't have a few losses to cover off. Those selling now have 30 days and then they can buy their shares back and this pressure may make them even cheaper by that time. Lows may be established just before the deadline, Dec 20th I believe.
Then again that may depend on other factors effecting the market such as news coming out of Goldman.
A Goldman Sachs gauge of financial distress to be published Dec. 5 “is likely to signal that dislocations in credit and money markets remain much worse than those prevailing ahead of the Lehman default,” Francesco Garzarelli, chief interest-rate strategist at Goldman Sachs Group Inc. in London wrote in an e- mailed research note.