Weekly Newsletter - May 9 2008

The bulls may end up banging their heads against the Wall of Worry which seemed to have been ignored in recent weeks. The markets may more or less continue from where they left on Friday. A cause of concern would be the IIP numbers which will be announced on Monday. Expectations are it could be disappointing yet again and this could provide fuel to the bears. Inflation remains at higher levels and crude prices continue to cause worries globally. Not many significant results are in store. Only strong global cues can prevent a likely meltdown in the coming weeks.