29th September 2008, 08:26 PM
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Sachin Asher
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Join Date: Sep 2006
Location: Vadodara
Posts: 8,636
Rep Power: 383
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Pakistan Stocks - Everyone is Trapped
There is this beautiful song that I often listen to - "Hotel California"
You can listen to it too...  .
http://in.youtube.com/watch?v=zkD-Mrg1BOQ
The current state of the Karachi Stock Exchange is something similar to "Hotel California".....  .
Quote:
Last thing I remember, I was
Running for the door
I had to find the passage back
To the place I was before
’relax,’ said the night man,
We are programmed to receive.
You can checkout any time you like,
But you can never leave!
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KSE has put a floor price on its index. This means all trading has to be done above this price level.
All around the world, investors are panicking and are selling their equity assets.
However, no one is selling at the KSE.
Why?
because no one is buying... .
The floor price on the market is like a eternal lower circuit.
Prices cannot go down and no one wants to buy at these artificial prices.
the result?
everyone is trapped and no trading is taking place.
Quote:
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They said that another record was set this week as volume made another low on Thursday, its lowest levels since May 98.
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Source.
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