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Qatar: still a no-play

Posted: 10/28/2013 - 12:57 pm

We have not issued a single trade idea in Qatar since mid-September and looking back at the past six weeks, we were right not to do so.

The Qatar index (QSI) has performed poorly with most underlying stocks exhibiting weak patterns. The market was unable to fully recover from the Syria-related sell-off and our advice to exit the general market upon a bounce to 9800 back on September 11 proved wise (read: How we would play it).

Judging by the weakening performance post the Eid-break, we fail to find reasons to go long the market at this point and we can’t seem to find any screaming buy opportunities.

That said, we look forward to the many trading opportunities that Qatar will likely offer as and when we see buying interest returning to the market.

Be patient and be ready to go long when the market begins to show signs of positive reversal.

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