Daily Market Comments 13 June 2006

The markets are in a definite down trend with sell offs mainly due to widespread panic then any real fundamentals. Fear is ruling the day; Fear of recession; Fear of rising interest rates; Fear of slowing economy; Fear of inflation; Fear of rising oil prices; Fear of the coming true of the "Boom and Bust" Theory. There are simply too little positives in the background to support any possible upturn. Any upturn at these points are likely to be accumulations by speculators only to be beaten down by a rush of profit takers soon.

Overall, there are just no reasons left to be positive until the market proves itself by a definite upturn.