:)
EDIT - WOW looks like the US Bear just woke up...be looking for a fakeout/trap :-|
Someone please wake the Indian Bear too :)
On a different note - Would you prefer my usual written updates or the videos? I noted that not many people download the video compared to those that visit here.
Markets - The beat goes on. 20day swing SL taken out. Now its on a buy...Likely this will also fail - stop is at 2660 odd I think. We are in the RANGE from HELL for now.
I still believe we are setting an important top right here. My beliefs should ofcourse be taken for entertainment purposes only! :)
Will post a more serious update later.
Cheers
10 comments:
hi lee,
thats a sleeping beauty!! it will wake soon when time will be ripe.
i am not a chartist.i trade from my experience and continuous monitoring of price behaviour.
i have a view.. now if nifty breaches 2850 decisively we may see a significant bear rally ... considering the fact that most of the retail shorts are cleared from the system and there is sudden spurt of bullish hopes which is necessary for the 'biggies'.
as a chartist how do u assess the current situation ?? ur views are highly solicited.
TC
sajal
Hi Sajal,
My view is very similar to yours. Shorts are almost cleared out of the system and they are ready to take it down. Its funny how it always happens - Big money always plays the small guys...Isnt it?
2850 breaks, we will likely have a straight run down to 2680-2525 somewhere in between likely. From there I see another good bounce before the final climax.
Its been a tough few weeks retaining the bearish positions...Sure the hedges helped but I almost bailed yesterday...But the other thing is whenever I FEEL worst about my position is when it turns in my favour...Funny how sentiment works..isnt it?
You are a good thinker in the market...I sometimes feel more than TA, a clear mind and gut feel is more important in the market...Charts are important but other things are more important...Like trade management and psychological mindframe. Its a tough business but getting there.
Thanks for your comments over past few days.
Best.
Hi Lee,
My vote will always go to the written posts over video. The biggest plus for post is i get to go through it at my pace, pondering over a specific comment and interpreting and comparing it with my own analysis.
Abhijit
Yes Lee/Sajal,
Your are reflecting my thoughts too.
Itsa perfect beartrap in place.Marketmakers know that and later or sooner prime beartrend will take its cut out.I am expecting 2300 range by monthend.
combination of writeups and videos shld keep it interesting....
Gap down open tommorrow probably...if the bear takes it to 2500 odd then your analysis comes very close to market behaviour...again a rise to 2800 odd then final lows...cheers..
Thanks lee,
first for your compliments and then for a quick clear view.
yes,lee, to me stock trading is a psychological warfare(individual against the market) and prices do test our psychological strength to the last..and a weak mind can not face this test....
like a game of chess which drains out individual's thought-process.
Anyways.. thanks for the gesture whenever i feel like asking you i will. if at any point i may have the pleasure of your help..just drop in my blog.
TC
sajal
dear lee....
i am not connected to the videos. reading your views is so much simple. could not download and view the videos so far.
so missed all this video stuff.
warm regards
rajiv malik
Thanks Guys for your thoughts...
It sound like most prefer the writeups...and maybe an occassional video...So I think what I will do is unless I am conducting a LESSON, I will stick to writing as it makes more sense.
If I am teaching something, then a video makes more sense.
Thanks Kaushik..lets see...
@Sajal - I did visit your blog a few times...
Cheers.
he is not sleeping ...
it is just some rest for a while...
Lol...He is awake and roaring now!
:P
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