Hurst Cycles Trading Software - Accurately Forecast Nifty and Stock Cycles

Wednesday, November 5, 2008

Bingo!

Well I got the selloff I was looking for...Should continue for ATLEAST some part today too. I hope you also noted that Reliance cratered and took the market along with it...Dont I deserve a star? LOL!!
Give SS one too...That was an amazing chart and call idea from him - check timamo.blogspot.com

Well anyways joke apart, I am not sure now if this is a sharp corrective selloff with more recovery highs to follow or if it is part of an initiation move that should go on to test the market lows at 2250 and probably lower at 2000 odd. Any thoughts? I am not sure.
I will most probably cover some of my shorts today...Hedge puts against cash longs will remain.

Comments, ideas, thoughts etc welcome. The forum I used to post for ideas VFM has become a noisy and useless place due to some new elements posting and spamming there now. Comments can be posted here also...Will be welcome..And hopefully some kind of healthy debate can emerge.

Best.

4 comments:

Tanbir said...

Hi,
Completely agree with you on Reliance !! It was heading for a correction, and it did. Nifty just might go range bound for a while now.
Yes VFM has "lost it".
Take care and keep posting
Backbencher

Sujatha said...

of course, VFM is very noisy nowadays. Let us hope KPLji will take some good action against these noisy people.

v r regularly following ur blog, kindly keep posting.

Vivek Khemka said...

"I am not sure now if this is a sharp corrective selloff with more recovery highs to follow or if it is part of an initiation move that should go on to test the market lows at 2250 and probably lower at 2000 odd. Any thoughts?"

Well unless 2600 is breahced, we wont know for sure whether we are heading for new lows. i feel markets will get one more shot at 3250 before breaking down.

Lee said...

Hello Vivek,
Thanks for your comment...And yes I do agree with you...I see an excellent shot at the highs again...Whether it breaches or not needs to be seen.