If India crashes today - post the SEBI proposal to reign in P-Notes - I think markets worldwide take a hit. Why? Because it is the BRICs which are supposed to save the world from US housing disaster. Anyways it is becoming difficult for the DOW and S&P500 to break into new highs. Credit concerns still exist - witness the creation of the master fund by Citi. IFN was down 8% in NYSE. Lets see if Sensex tanks by 1000+ points.
I sold VWO yesterday at 109.45 - 30 min before SEBI came out with the notification. Call it luck. I bought it at 100.50. 9% profit in a month is not bad - is it? Thats the party.
YHOO bet low expectations yesterday, Intel had a blowout quarter, while IBM was in line.. Will this offset the impact of Sensex's crash on the DOW.
This Friday is the 20th anniversary of Black October.