Monday, 14 January 2008

Markets: Quiet before the storm?

Aside from a healthy opening jump on IBM's earnings beating analysts' estimates, the markets on Monday traded relatively flat and reminded me a nervous school of curious fish in anticipation of one of the two options. What shall it be, a hungry shark (completely disastrous bank earnings numbers and bad government stats) or some nice food (government stats and banks earnings which are not that bad in comparison with gloomy estimates)? We will find out tomorrow and later this week. It is either going to be a steep ride further down or some short-lived fishing frenzy on selected banking stocks and a small rebound in indexes.

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