Market Update 13/11
Wow. Any company that’s knocking it out of the park with this quarter’s earnings aren’t even moving. Those that miss just slightly, get sold off hard.
Rumours throughout the local instis and retail investors that HFT Funds are naked shorting the market down. And despite my comments that if any broker was found to execute a naked short that it would be fined by the SEC, no one believes this fact. Whilst yes KKP’s market share for daily value traded has reached 25% (apparently due to 3 HFT Funds). I know that DBS and another broker were fined by the SEC back in the day the moment they executed a naked short on behalf of a Fund. Oh well. Just points to a lack of confidence in the market, the economy, etc etc…
This market has moved the other way from what I expected…
peter satrapa-binder
yes, market sentiment seems to be quite miserable right now. also, see the ‘successes’ of the recent IPOs in this regard.
Pon
Well, the majority of these latest IPOs are shit businesses that had to quickly list before the new implementation (2024) of the SEC’s rulings on financial statements.
peter satrapa-binder
even so, i believe the mood on the SET is not a very happy one nowadays.
Pon
Let’s see, sentiment can change on a dime…and not feel good until things are up a fair amount.
Peter Satrapa-Binder
Sure 🙂
Pon
And look how its changed in 24 hours.
peter satrapa-binder
well, there had been some up days in the recent week. let’s see whether it will hold for more than 1 day.