Weekly Newsletter - June 14 2009

We’ve had a choppy ride with a weak start on Monday and negative close on Friday. But the days in between saw plenty of action from the bulls which brought in another week of gains, the fourteenth in a row. The coming week is expected to be as uncertain with no real local cues, unless some untimely announcements come.





Of course from the global side there are always news and views which often come unannounced; enough to change the equation temporarily. The bulls are getting dizzy at this temporary top and will look at some distribution in portfolio before the make or break event comes in the form of the budget. The market has overtaken earnings by much more than a mile. Let’s wait to see if the first quarter numbers manage to bring in some smile!