Re: Sink Below 7000

[Future123Active Member]

Yes Sashi, I'm not buying anything right now and waiting for the budget to see attractive sectors. Sold some of the volatile shares. But if Ravi K come up with Turnover tax then only God can save the private sector and consumers.

Future123,

Let's wait till the budget.

Govt can introduce a lesser percentage or some other way where more people would have to pay but people who currently pay don't pay more.

I will wait till the budget to identify the best sectors. I sold some of the risky shares and holding export related shares and long term holding shares. Definitely export related shares will be the best after the budget.

The government is planning to introduce a disastrous tax called Business turnover tax (BTT) which was abolished long ago. This would have a serious impact on profits of all the companies. Unlike VAT this BTT would be duplicated and charged whenever there is a sale. VAT is charged only once and for subsequent value additions.

If this deadly BTT is introduced ASPI could go to even 6000 in the medium term. I can't understand why the government is very angry on businesses and investors. Many of you yahapalanaya supporters say country first and don't be selfish blabla....

Just forget about businesses, the poor people will be paying additional money to buy any product as a result of duplication of turnover tax. Is there any shop selling plain tea at 10/=, milk tea at 25/=, dhal, sprats at the prices specified in interim budget?

In brief, I would wait till the budget to identify the sectors which would benefit from the budget. Read the following article carefully.

http://www.ft.lk/article/497195/Turnover-Tax-threat-for-tourism

[Future123Active Member]

If Ravi K and RW manage the country and economy for another 2 years, US$ would go beyond 170/=, many people will lose their jobs and many local businesses would close down. At least if fat Ravi thrown out then it's a big relief.

budget can be a serious threat for ranil and Ravi. i saw in a news paper that some ministers are trying to defeat the budget as a first step to change the government.

[smallvilleTop contributor]

If Ravi K and RW manage the country and economy for another 2 years, US$ would go beyond 170/=, many people will lose their jobs and many local businesses would close down. At least if fat Ravi thrown out then it's a big relief.

budget can be a serious threat for ranil and Ravi. i saw in a news paper that some ministers are trying to defeat the budget as a first step to change the government.

I hoped to stay silent but this took me by surprice

LOL.. Dats a serious statement...

Before u analyse USD, do u even know what happened recently to global economies?

But I agree with you fatty Ra-vi issue

[smallvilleTop contributor]

budget can be a serious threat for ranil and Ravi. i saw in a news paper that some ministers are trying to defeat the budget as a first step to change the government.

U know.. thrs a lot of ppl with the intention of that... Now Wimol and gomma wanted to form a new party in hopes of posing a threat to the Govt. However, RW is no shoe shine boy.. Hes more powerful now..

[AdminAdmin]

Please stop name-calling. I have been calling to put a stop for that.

[seekTop contributor]

In addition to the current global economic crisis, country itself doesn’t have a proper leadership and a vision.

As I mentioned in few replies I am already out, and there is no intention enter the market in the near future. I may miss some short term opportunities but looking at a red market with cash in hand is really awesome.

[කිත්සිරි ද සිල්වාTop contributor]

I am not totally out but now looking at other opportunities.

[sashimaalTop contributor]

Wait till the budget. No need to panic.

Sentiment can change any moment

[LSETech Contributor]

Yes agree with you sash... will wait few more days...

Wait till the budget. No need to panic.

Sentiment can change any moment

[BackstageTop contributor]

I feel a bit Greenish today.

[HUNTERTop contributor]

Markets always go up or down.
It should be a part of the game of most of you.

If you want to catch fish, you need to stay out of the water; not sunk in and grasping for air (Mentally).

If the market is going down, we need to accept it; not be panic; or not to pretend it is going up.

What we need to do is, to watch for opportunities for buying or selling 'patiently'.

(Hey, I didn't mean anything about BS's comment above; but in general, as I felt the 'tone' of some comments)

[BackstageTop contributor]

Markets always go up or down.
It should be a part of the game of most of you.

If you want to catch fish, you need to stay out of the water; not sunk in and grasping for air (Mentally).

If the market is going down, we need to accept it; not be panic; or not to pretend it is going up.

What we need to do is, to watch for opportunities for buying or selling 'patiently'.

(Hey, I didn't mean anything about BS's comment above; but in general, as I felt the 'tone' of some comments)

The 'tone' being optimistic ? hopfull and not objective the' ?

[HUNTERTop contributor]

I meant the 'tone' of denial (Not going down) or panic (end of the stocks market).

In my view, we need to be optimistic and confident but at the same time 'emotionless'.

[BackstageTop contributor]

I meant the 'tone' of denial (Not going down) or panic (end of the stocks market).

In my view, we need to be optimistic and confident but at the same time 'emotionless'.

Dispassionate and clinically efficient in trading yar ? Optimistic and confident attitude, but with eyes,ears and mind wide open to all possibilities.

I will try and provide some comic relief in between, now that Jiggy seems to be busy with Paris and Beirut.

[HUNTERTop contributor]

I meant the 'tone' of denial (Not going down) or panic (end of the stocks market).

In my view, we need to be optimistic and confident but at the same time 'emotionless'.

Dispassionate and clinically efficient in trading yar ? Optimistic and confident attitude, but with eyes,ears and mind wide open to all possibilities.

I will try and provide some comic relief in between, now that Jiggy seems to be busy with Paris and Beirut.

Well worded and dramatized.
I sense something must be coming from inherited 'genes'.

[කිත්සිරි ද සිල්වාTop contributor]

Back stepping in, when others showing signs of going senile is a good sign.

[BackstageTop contributor]

Back stepping in, when others showing signs of going senile is a good sign.

Hafoi ! Not a good sign when backstage people take center stage.

[කිත්සිරි ද සිල්වාTop contributor]

Still Yo Yo and needs another Lomu to break the 7K barrier.

[BackstageTop contributor]

Wait for the Ravi Run. If not Maggi noodle for Christmas.

[කිත්සිරි ද සිල්වාTop contributor]

Now you are setting another baits with the Instant stuffs for someone to come out of hibernation.

Wait for the Ravi Run. If not Maggi noodle for Christmas.

[HUNTERTop contributor]

........

**unless it is a very strong downtrend,
a downtrend is followed by an upward correction (Overlapping waves).
But, right now, what we experiencing is a downward correction. (Lower tops and Lower bottoms)

..........

So, finally, it proved to be a strong downtrend indeed.
It suggests, we still can apply TA to understand movements in CSE quite successfully .

However, the biggest problem here is; our minds prevent us from believing the reality in time.

IT suggests me, this is a mind game and 'Equanimity' is the key to success.

[blacknights]

........

**unless it is a very strong downtrend,
a downtrend is followed by an upward correction (Overlapping waves).
But, right now, what we experiencing is a downward correction. (Lower tops and Lower bottoms)

..........

So, finally, it proved to be a strong downtrend indeed.
It suggests, we still can apply TA to understand movements in CSE quite successfully .

However, the biggest problem here is; our minds prevent us from believing the reality in time.

IT suggests me, this is a mind game and 'Equanimity' is the key to success.

So what would be the next support as of your analysis Hunter? Please explain what would be the likely scenario after that support too.

[HUNTERTop contributor]

https://forum.lankaninvestor.com/t6747p45-are-we-made-up-of-waves#60061