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Friday, 4 July 2008

Courtesy of Dennis Ng

I observed that markets typically bottomed when:

1. most people have run out of Cash to invest AND
2. the remaining who have Cash are too afraid to invest.

Looking around, I think I still find many people with Cash to invest....that's why I think markets have not bottomed yet.

Above is my unsophisticated view. I might be totally wrong.

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