Martis just used his crystal ball - look how well his predictions panned out today.
Lets see: Martis predicts 200-500 point slide We get : 261.6 point gain
At least he was close! NOT
I'll bet he's hurting right now - assuming he acted as he claimed and shorted the market on the worst day for shorts in ASX history!
Maybe he'll do better tomorrow.
The ASX is still about 500 points below where it should be and will be once the subprime storm in a teacup subsides (as mentioned previously - total potential bad loans (about $US100B - though likely to be much less than half this once assets sold to recover bad debts) is equivalvent to about 2 hours gross world product. Hardly justifies a drop of 10% of gross world market cap accross world markets (ie about $US30-50 Trillion drop in world market cap). Massive, Massive overreaction in the past two weeks is just getting corrected upwards now.
Shorters beware.
ASX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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