Sink Below 7000

sashimaal wrote: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.

Future123 wrote: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

poor boy wrote: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.

Future123 wrote: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.

poor boy wrote: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.

poor boy wrote: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.

sashimaal wrote:Wait till the budget. No need to panic.

Sentiment can change any moment

HUNTER wrote: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)

HUNTER wrote: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'.

Backstage wrote:

HUNTER wrote: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.

කිත්සිරි ද සිල්වා wrote:Back stepping in, when others showing signs of going senile is a good sign.

Backstage wrote:Wait for the Ravi Run. If not Maggi noodle for Christmas.

HUNTER wrote:........

**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)

..........

HUNTER wrote:

HUNTER wrote:........

**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.