Saudi Stock market blues

For three straight days since Monday October 30, Tadawul All Shares Index (TASI) continued its free fall cutting the index by 1,199.38 points or 11.85% as of November 1, 2006, Wednesday’s market close.

Yesterday, most investors could not help but watch their portfolios gone to red every seconds of the trading day. The negative sentiments were so bad that it added more volatility to the already volatile market. The common question yesterday was how low could their stocks go.

The others who were optimistic after Monday’s fall, decided (on Wednesday) to cut short their miseries, took the very bitter pill called “LOSS” in the most courageous but painful act called SELL. I could only guess that they are now scratching their heads as to how much this bitter pill had cost them.

By the time you read this, I will be in Dubai on my way home to the Philippines. I had enough of the Saudi market these last three days so I decided to take a short break to nurse my bruised or hole-ridden pocket (whatever).

Ha ha ha, you now you realized that I was one of those investors who took that very bitter pill. The only difference I have with them is that I know that it is much better for me to spend whatever is left from my account for my happiness rather than continue speculating again comes Saturday and losing more to the market.

Although my stock trading activities did not turn out to be good these last three days, I could proudly say that I did not just fold down and die going against the rampaging flood (???). I fought hard to defend my position to the very end. However, it turned out to be pretty much like this song, “I did my best but my best was not good enough.”

For now, I will take my one step backward and later, I will take my two steps forward.

I will be back.

Related post:
Saudi Stock Market is down again today
This is one of those days
Strategy or greed
Sana Nga

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4 Responses to “Saudi Stock market blues”

  1. 1 Lerms November 2, 2006 at 8:03 pm

    Well what can i say….? Just enjoy your well deserved vacation!!!!

    What is down today might be up someday… Life’s cycle… 🙂

    Have fun!!

  2. 2 Patrice November 2, 2006 at 10:39 pm

    hmm, we invested in company stock and it seems like it is not going the way they forecasted. guess, its the same everywhere.

  3. 3 Sidney November 6, 2006 at 7:44 am

    The stock market is a high tech form of gambling!

  4. 4 Dr Zahid November 11, 2006 at 8:55 pm

    Tadawul fall is hurting the young enthusiastic saudis. The monetary loss is quiet big but even bigger loss is their confidence in themselves. They learned the stoch trading in a wrong way that bugs cabe made easily. to re-learn the REAL stock trading will require, first un-learn what you learned wrongly the then learn the correct method of trading. By this way only they will be compititive worldwide.
    Dr Zahid

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