JP Morgan – Dimon Shared our same view. Market is adjusting itself.

Dimon shared his view that the market merely adjusting itself. There are more good news in US than bad news. Oil price down trend overdone and may adjust itself in months to come. I think both Jim Roger and Dimon believe the oil is now too low. But the downward momentum pushing oil price further. No one knows what is the floor price. Until then we are not changing our view perhaps need another 6 months for a recovery.

We believe Oil price is oversold and RM is also underestimated against an usual strong dollar. The world crisis may come with either debt level burst or natural disaster. But there are still tools in the market to point for a better sentiment. But we believe the momentum now will need more time. February OPEC urgent meeting on oil can be a strong pointer.