20080818

The WIG Index continues below downtrend line, but we can see the triangle formation (from this post) and it looks pretty interesting - let's see how the situation will develop further:



The WIG20 Index is catched between those trendlines:



Again, not much can be told about the market. In current situation cash is the king.

The mBank, an online polish bank gained its popularity mainly due to fee-free access to a number of polish mutual funds and open politics (i.e.: very easy creation of an account). The mBank (which is a really good bank anyway) also publishes (here) a nice chart with the percentage share of all the money invested by its clients in the four kinds of funds:

The stock funds lost already ca.30-40% in value (yearly ROI, can be checked here). The 40% drop in the WIG Index resulted in just one person out of seven withdrawing their money from stock fund and still more than a half of all the money is invested aggressively in stocks. It seems, the Polens are still very optimistic about the market in general.

Update from 19/08/2008:
It seems that intraday triangle formation has failed today (thanks to Stooq for chart):



Sources:
[http://www.mbank.pl/indywidualny/inwestycje/sfi/aktywa.html]
[http://www.mbank.pl/indywidualny/inwestycje/sfi/notowania/]