Update - June 17th 2008

So the bounce continues...I scaled into 50% longs in few nifty August 5000 calls(just for speculation) and also all of the stocks mentioned in below post...Since I am still expecting a pullback the extent of which we cannot be sure of at this instant, also took some PUTS to
hedge the stocks for July...So thats how I am positioned now...

Expecting pullback shortly...might try a bit more higher before that...Many folks are planning to short at 4800 area...Well and good...However do not get too trapped in this view...Could be a bear trap...So be quick whatever you do...

I have noted, that operators get public bulled up and screw them...Then get them beared up and again screw them...DONT go with the flow...Stand out from the crowd!!...Be nimble and quick whatever you do...Thats all I have to say.

On a side note:
Heres a good read on the Martin Armstrong Model...Pay attention..This guy is a genius. (note that this is not a model for the market but rather a model on the economic/business cycle..so markets may not follow the timeframes explicitly..however I do see a good relationship between the 2)...The 8(8.6) yr cycle that Vivek Patel favours is clearly visible
here...

http://hubpages.com/hub/Martin_Armstrong_Business_Cycle_Model

My thought is that we are in a 2-3 year bear market...This does not mean that we will NOT have fast and furious rallies in between with the bottom pickers and the short covering...But overall I think we drift down into late 2010 and early 2011...Now these are not numbers I just pulled out of my hat...this is based on the Martin Armstrong economic model(google this to find out more)...And from what I see...I think we will rally(X wave) from around here to maybe september/october timeframe in time for the US elections and turn down very hard from there...into 2009...

Ofcourse this is all speculation only...

Best.