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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?

i think it's the right time to buy stocks...or may be you can wait for few more days....and as far as info on EPS etc is concerned....go to company website alll the informations will be available there

Try www.gulfbase.com.

Basic information on every counter can be found there.

I'd say sit tight... I bet you can afford to wait a little longer.

Cheers mate!

THe DFM closed even below 600 yesterday although advancers/decliners ratio stood improved. The declining trend may see some respite now after government's move to make buying back of their own shares easier for the companies and the move to ensure earlier refund of IPO surpus to maintain liquidity in the secondary market. Saudi bourse is also likely to be bolstered in response to Prince Al Waleed bin Talal's plan to put 2.6 billion dollars in the stock market there.

But in reality, it has been seen that stock markets engaged in a downward spiral after a euphoric bull run seldom stop falling by positive announcements and fresh injection of funds.They have to complete their cycle.

Thanks for the link Guilo...it is a wonderful website as it allows simultaneous viewing of all the GCC markets. ( But you know your link is not working due to the dot in the end. I could not open the website till I removed the dot after com www.gulfbase.com works)

Cadmus, thanks for the clue...I tried tabreed.com and found the info there. Any idea where to find the URLs of other companies?

Guilo2 wrote:Try www.gulfbase.com.
!

Thanks for the link, that is a great site i didn't know about

No worries y'all.

Just that it's part of what I do (for work) here in Dubai.

In school, we were introduced to the all-encompassing notion of market efficiency and how it affects price discovery. Well, consider yourself now occupying a larger piece of real estate in that equation

Best of fortunes with the trades!

Cheers.

Hi,
Any one knows where to find a list of companies in the DFM open for expats to buy & sell?

'EMAAR',
'AMLAK',
'SHUAA',
'DIC',
'ARTC',
'TABREED',
'ARIG',
'ARMX',
'DIB',
'IFA',
'UPP'

Good luck,

Thanks a lot, do you think to start, it is better to start with ADSM or DFM?

ADSM is a lot less liquid and more conservative, depends on what you are looking for. Personally i like DFM but both are in severe downturns so i'd be careful, good luck in what ever you decide.

Tomorrow things should gap down

Although tomorrow things should head south a little the last couple days have been quite positive and it does appear there is some support and it no longer is a free fall, I'm not putting any of my money into long positions but if you are looking for bargains and are a bit of a gambler, it isn't looking as bad this week as it did the last few.

good luck.

Mr. Fayz = Mr. Finance

Liban wrote:Mr. Fayz = Mr. Finance

Hahahaha, hopefully you put some money in, you would have made a minimum of 20% if you chose well in the last 2 days, Pay for your suite at Jebal Hafeet

haahaha i'm a poet and i didn't even know it ;p

Oh btw if you are looking for wife number 2-4 you should meet the new marketing dept. here DAMNNN

hey guys,

What do you think of the upcoming listing of EITC? Will it take off or will it be a dud. I was thinking of buying some when it lists. What do you think?

when it lists lists, i.e. the first day it is traded? or are you in on the IPO, if in on the IPO you're pretty much guaranteed a 400% return.

There are so many people that are anti Etisalat that i think they'll be a demand for this and unlike Etisalat it'll be listed in Dubai and not ADSM which is a lot more liquid, both big pluses, the only major minus is bad timing, in a downward trending market, on the onset of a possible recession is never a good thing.

Weighing everything I think there is good potential but you never know.

Good luck.

nah....too late for IPO and I'm not a national. Looking at purchasing on the first day. Well I hope so. I'm not too well versed in the local market so I will be taking some small risks.

Are there any good buys in the DFM? The number of companies are pretty small and most of the volume traded is limited to a small number of companies. Not used to such a limited choice....but it will help me focus though.

Well just to update people on Du there were near riots today at the exchange with people trying to get their investor numbers. I actually got some video of it, I'll have to see if i can upload it onto the site, you'll get a good laugh.

Anyway with the novices out in full force and the symbol being free floated it'll be very interesting this Saturday, good luck to all that'll try to ride the wave.

Fayz all i will say is

1,2,3,4,5,5.6

789.....

Well today was a boring day, the market was very quiet, not near the volatility that I expected, but there was a 20% spread between low and high so some people made good money and ran, the whole market tanked royally in the last 30 mins, it looks like another severe downturn over the next few days as it broke below another support level, but who knows.

These 2 videos are really shitty but as promised here you go. (also the fist time I uploaded via google video, pretty kewl )

http://video.google.com/videoplay?docid ... 5783989471
http://video.google.com/videoplay?docid ... 5218854934

Too many speculators I guess.

But I'm a mid term player. Don't like them hit and run scenarios. Oh well. We shall see. Whats with the mad rush anyway? Du at 6.05. From what I gather, the market is nervous.

the thing is at 12:22 yesterday the market broke through a key support level. That means another free falling few days at a min. Even if you think DU is well priced at 6:05 look at the price on say Tuesday at 11am, and then respond back.

As expected,

opportunists are circling. The reason why there's a panic selling of Du shares are teachers and other non-savvy investors are selling off the allocation they have as they are afraid that the market has crashed.

To be frank, the DFM market has already been on a bear run for the past 5 months and is about 50% (dunno the real figure) lower than its peak. The correction in the market has been made and there is very little down side correction left. At worse, the market will be moving sideways for awhile. I don't really expect another big wave of correction in the mid term.

Kewl, I hope you are right, my personal feeling is although there was good recovery today I think there is still some downward trending left. Nothing would make me happier than you being right and me wrong though

of course we all hope for the best.

nobody is a fortune teller here and I am a very small player. And I definitely do not have the powers-that-be to move the stock market wherever i wish it to go.

still learning about the market. do you have msn or yahoo messenger? perhaps we can update each other on the happenings of the market as well as give advice as to how to proceed. I'm on a project in Jordan for a few more months before I get back to Dubai. Will need a helping hand when it comes to stock market in DFM.

znetpower wrote:Hi,
Any one knows where to find a list of companies in the DFM open for expats to buy & sell?

Some information here(almost up to date) and here(4th column) but it's also not completely up to date since it relies on SCA data.

SCA and ADSM sites have pages listing companies allowing foreign ownership. Have yet to find page on DFM site.

Hi Dodge, I usually do use MSN but I'm travelling for the next couple weeks so won't be around much. I'll touch base with you after though. btw your 6.05 buy is looking pretty good, congrats

Sharewadi welcome to the site, I checked out yours as well, nice to see an English language forum site for the stock exchanges here.

ok no worries..have fun in ur trip!

Yea sharewadi good information available on your site! cheers

fayz wrote:Sharewadi welcome to the site, I checked out yours as well, nice to see an English language forum site for the stock exchanges here.

dodgeek wrote:Yea sharewadi good information available on your site! cheers

Thanks. Look forward to seeing you there ...