The market has been slipping and cannot find support

Portada en Ingles

By Carlos Fontana
Columnist for Ámbito Financiero

It takes steps forward, it jams on its brakes, it takes steps aside and starts all over again...

Sometimes volume is large, sometimes it is small; sometimes there is an improvement due to encouraging news , sometimes a disappointing event brings about a fall.

This is it in a market which sometimes survives thanks to a rise in foreign indexes, but which carries on sliding and cannot find a strong projection to support itself.

Besides, orders are running low due to rules that made the market more expensive and that help the "export" of stock transactions, as if there were too many.

* "Over a low heat"

This is the name of a nice tango song by great Salgán, which summarizes what has been going on in the local stock exchange; the second quarter has already started and the market has kept afloat due to those unusual weeks in January.

Broad powers are threatening to expand all over the country, there are discussions over the euro and also controversies stirred up by Cavallo, who rides roughshod over others and who notices- maybe- that
his timing is different from reality's.

The cut in rates was not made according to schedule, new explanations were given, but there has been the sensation that the tax on the check was the only definite and fatal step taken. In this context the market has to manage to rise. The trend will be set day by day.

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