Hurst Cycles Trading Software - Accurately Forecast Nifty and Stock Cycles

Sunday, February 8, 2009

Important Week Ahead

Meant to put out another video today...Unfortunately did not get time but still want to do this quick update since I think this week is a very important week.



The most important chart development I think is that the SL for the 20d swing has come down to 2930 - meaning that shorts should exit if market closes above 2930 any of these days. Will it happen? Well let the market tell us. I am going to review market action for next few days to decide how to manage my trades.

Something I have noticed recently is that few readers are turning aggressive, downright critical, mostly senseless comments that I cant even understand what they are trying to say. Come'on guys if you want to offer counter points, I welcome that since I can see the other side of the coin...But aggressive and taunting posts will get you nowhere. If it continues, I will be forced to take some additional steps like no comments allowed at all...Or even take this blog private so you can read by invite only....But we shall see. I dont like it when people come out taunting esp when I take a lot of effort to this analysis and updates...Its very frustrating to say the least.

The good thing though is that whenever these guys come out like this, market flips in my favour. So we shall see.

Okay enough of my rant.

Some interesting things I see on public sentiment also. Suddenly forums, news, blogs etc have turned bullish - They were bearish till Thursday. For me this is damn interesting. Market has not done much in this period to warrant this much bullishness...Is it the news? The stimulus plans? Well we all know how the last few stimulating plans helped the markets :D
Bottom line is this market should be allowed to heal by itself...sure it will be slow..but it is the only way. The more money you throw at it, you are only worsening the process.

There are a few things I am watching and also some cycles that say we are going to put in a real top within Monday-Wednesday timeframe this week. Whether this will happen or not I do not know but I am watching this week closely. I admit time is fast running out for the bearish case and the earlier fractal we were following can fail if the bullishness continues this week. I will be looking for an important top this week beginning.

I will post the video update tomorrow.

Best.

5 comments:

long.short said...

dear lee,
first, dont take the taunting posts with too much seriousness.just ignore them.otherwise these posts would have achieved the purpose they meant to do.
second,i have also noticed the sudden 1 day bullishness in public sentiment without any market action.actually the problem is... now-a-days new traders are flooding these forums and platforms..they are hardly 1 or 2 yrs old. they have seen that market either goes up or down.they dont have the experience of the phase what i remember a mere 50 pointnifty movement in a whole month called for a grand party in our days.
regards,
sajal(long.sshort)

Vipin said...

Dear Sir,

Ignore the bunch of loser and their comments...
keep up the great work...

Best Regards
Vipin

Yoda said...

I think there's enough indication of a fall, though it really seems to be taking it's time - I remain bearish.

It's terrific that you're addressing the problem of badgering when you're doing good work ... no other way to take on a e-bully. (At least you aren't reacting by talking of shutting down the blog. That's what their envy demands - damned indian crab syndrome.)

Keep shining.:)

Lee said...

Sajal, You are right...I couldnt have said it better....Sadly I am an emotional being :)

Vipin, thanks for your support.

Yoda, yeah well what can you do...It is what it is...I am resigned to it now...Naysayers will be there always...In all avenues of life...

Anyways I will trudge along...

Best.

Wroodrah said...

hold your fort, brother lee.

arrows will keep coming, but dogs barking make no difference to the elephant, does it?

coming to the point:-

nifty's tried to go down off late, but i think we're falling short of momentum down the slope.

i don't see it happening unless we see some real gains to short.
let's face it, who is buying for s to sell?

i look at this as an opportunity...
let's not play much into the haphazard bursts of rally...

let's instead wait and watch if it really can continue even small gains for a while..

i'm building since 2860/2950 today, will add another short on 3050.

and btw, i'm helping my 3050 tgt to short, by longing through the intras of the day....

hope to hear from you.

this is the time, we should be talking, and telling each other we're alive!!

;)

cheers brother,

take care,

pranam,

wroodrah