The WIG Index gain +0.73%:
Current setup can be interpreted in many ways - we might as well be confirming the resistance (ca.37800) before continuation of fall, or continuing the long-term rally.
In such situation it is generally better to stay out of market and wait.
Let's take a look at global view of the Polish market:
Since last global review (this post), we have gained quite a number of points. As can be noted, we are near the important level of 50% retracement (ca.39500). Technically speaking - the primary uptrend has not been negated yet.
However, we have gained almost +100% in little more than half a year, without any major correction and that can worry us.
Economic outlook seems to be much better than half a year ago. There are positive news from global economy. Bailouts are quite controversial and their long-term effects are yet to be known, but governments restored at least some liquidity in the market.
As for Poland - our country proved to be quite resistant to world crisis. In my opinion there were several reasons: strong internal market (ca.70% of Poland's GDP), lack of more complex (and leveraged) financial instruments, conservative mortgage policy, general weakness of PLN, cheap and qualified labor, immigrants' money transfers, etc. Poland was one of the few countries who did not formally reported recession and that is very good sign for stock market.
And for the end - Polish History in 10 minutes clip.
Sources:
[http://www.youtube.com/watch?v=Quld5950v6w]
[http://en.wikipedia.org/wiki/Gross_domestic_product]
Posts
No comments:
Post a Comment