Update

I am feeling a lot better. In my last post I forgot to mention that sometimes last week I had managed to buy NIFTY 4700 PUT under 40 (all inclusive). It was a very small contrarian (opposite to majority) move which as I had mentioned I entered for the heck of it. I had this feeling that I will not lose money on it. It is not just gut feeling but the knowledge that there is more pain in the market. Today I exited it at a small profit deciding not to push my luck too far. Needless to say, I squared off without looking at the charts and finding about what is happening in Europe and America. Looking at the US Markets, I am getting the feeling that I hurried into it.

Well, no fun in crying over split milk... Market will be there tomorrow and so will be new trades and new money to be made. Looking at the chart below, it looks like that there will be a short term break at the NIFTY party and we may see some down moves now.

I, personally, am still a fan of the secret society who believes that NIFTY will touch 4700 at least once more. Tricky part is the prediction about the time. With some conviction I would like to say that it will happen before next months series ends. That also reminds me of my recent theory that 2012 (World may not end in it as shown in the painful movie) could be the worst (or at least one of the worst) year for the equities. I will make a separate post on why I think so.

Haven't looked at all the indicators in detail and hence not posting a trade right now but will definitely do that over the weekend and post something. Needless to say that I have been wrong earlier with both; my trades based on charts and also based on my beliefs/theories and I am proud about that. It only shows that I am just a human being; my falling sick also shows that on some other platform but that is now what I am talking here.

Until next post.