A new dramatic week ended, marked by new turmoil triggered by financial crisis. Stock markets shut down, new all-time lows at world’s largest tradings, dramatic collapses of quotations. Specialists surveyed by Wall-Street explained whether recent events can be even more dramatic.
After financial markets and crisis proved that forecasts can be beat and many unpredictable things can occur, it is hard to say whether it can be even worse or how long will the situation continue.
“In theory, markets can slump even more. Down to which point? Nobody knows. We will have to wait, because financial markets alone will find the level whereof to begin the recovery. Same as in the past years, nobody could have said how much the markets can scale up, now the forecasts that estimate absolute figures minimums seem less credible. As long as the external markets will continue their downside path, I don’t think we will adopt any different trend in the following period”, said Florin Irimin, broker at Interspatial Invest.
He also explained that the trading is carried out regardless to the sentiments, rumors or news. “The general opinion is highly negative and I don’t think it will soon be over”, he added.
As the year is coming to an end, forecasts for 2009 are not optimistic at all. Therefore, the financial crisis’ reflection and its widespread effects will continue. Moreover, the quotations’ lows are far and the crisis is likely to spread to other directions, apparently shielded at this moment.
“In the near future, I believe we will witness a harshening of 2009 prospects on the economy, down to its confirmation with concrete data and with continuing sales, to lower down the risk. However there are investors who amass, but who want to pay lower prices. It is likely that in 2009 to see a positive response of the stock market considering that 2010 is seen as a year of recovery for the economic growth,” said Gabriel Necula, deputy trading manager at Prime Transaction.
Presence of speculators in the capital markets, especially in this period of high volatility is not an issue to neglect.
Intercapital representative says the beginning and the end of a trend are marked by prevalent presence of speculators.
“However, in order to see an up-shift of the current downside trend, portfolio investors must have an active presence on the market at purchase. As far as I am concerned, both on local and international markets there were mostly speculators who tried to profit from certain comebacks,” Florin Irmin added.
Translated by Camelia Oancea
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