Following the big plunge in Saudi stocks, Dubai stock market is also sinking lower and lower. Yesterday it closed at 611 with just one stock ending higher. Flagship Emaar slid below 15. The pressure is likely to continue untill the dust settles at the Saudi bourse where a big speculative bubble has just burst. Margin calls are leading the uninitiated astray. More selling is bringing in even more selling. Snowball effect is in action.
I want to know from those of you who have been tracking the local market....is this an opportunity to buy and hold some stocks at dirt cheap rates...to be sold higher six months or a year later?
My confusion is I cannot exactly decide how low is low enough unless I lay my hands on company figures like earning per share and recent payout histories at least. Where can such information be had from? Are company reports accessible?