Wednesday, March 16, 2011
A Brief Hiatus
I will be on leave for the next two days. I won't be following the markets nor posting anything during this period. It is heartening to see the chaotic situation in Japan has stopped spinning out of control today. We can only hope that we have seen the worst in this disaster, though signs of improvement are few & far in between. Japan's recovery will be a long & arduous journey which will test the resolve of a people well-known for their hard work & discipline.
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6 comments:
Enjoy the rest ;)
Let's pray for people in Japan. It's really a tough time for all.
Nevetherless, we should learn and solute to thier high spirit , discipline and culture.
Dear Alex,
Just as risk appetite used to take over at the expense of USD and JPY against major currencies, fear is has gripped the markets, prompting the major averages well below the 55-day MAs, calling the next targets at 11480 and 1230 for Dow-30 and SP500 respectively.
Hi Alex:
when markets r bad , better called it a day!
Hi Alex,
Would like to get your latest opinion on MNRB. It's stock price took a hit after the Japan earthquake and tsunami. Do you know what its reinsurance exposure is like in Japan or where I could get this info? Is the hit justified or is this a buying opportunity? Despite consecutive quarters of decent results, the stock has yet to take off.
Hi AlexP
Like many re-insurers, MNRB will probably take a hit this financial year from either the earlier New Zealand earthquake or the recent Japanese earthquake. However, the share price has always been trading at its low, I doubt the share price will drop lower. The strong horizontal support is at RM2.60. MNRB traded below that level from March 15 until yesterday. It is trying to recover above that mark today. I think at this level, the stock is still rated a long-term buy- albeit an unexciting one.
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