Hurst Cycles Trading Software - Accurately Forecast Nifty and Stock Cycles

Monday, September 22, 2008

Update for the Week

Hello All, Well after the outrage over last weeks events and everything else, I settled  back and looked over things and reflected, analysed, and reached more saner areas in my thought process....Most of the time, a position can cloud your judgement and ofcourse this will impact your ability to make money...always..We need to be of clear mind to keep making money..consistently.

Trading is not about trading systems...its more about the mind..and good money/risk management techniques..Now dont get me wrong...TA and systems are important...though not as much as we think them to be or how much people make them out to be...

Okay..Now coming to the markets....We are gonna have some decline today for sure..I will look to cover them shorts I already have which I took from 4250 area as I had updated in previous posts and go flat...And from there I might try some very small nifty longs...Very small coz I am not confident on them and since recently bearish positions have worked better for me than bullish ones..but still might try some small longs for a bounceback....Dont get me wrong...I am still bearish but near term some bounces can come..Maybe to the 4400 or 4450 area.........

Charts and EWT structures..I am still reviewing this...Watch for them in following posts.

Comments welcome...Are you bullish or bearish on our markets? Please comment!



Arvind said...

Hi Lee,

I am bearish till Nifty reaches 4050 and from then on extremely bullish for a target of 4450.

Anonymous said...

I am fully confused because of the government intervention i guess the market can turn any where....


Anonymous said...

hey i think we are in for a massive decline

now inorder to be careful i checked some EW and gann

strict stop around 14200 odd levels on closing basis

i also think some primary corrective wave just might play in incase of failure of the decline
may be mid october and rally for a month and decline again in december for a few months....already everyone is over bearish we need to be just bearish and wait for the bounce