The ABC

Wow 34 comments in earlier post...Not exactly for the reasons I had in mind but it was good entertainment last night. I will continue to post the same way I always have...Naysayers or not...Anyway how was that bit of TA for you? The ABC upmove I called for...2620 on the dot..Yeah I'm an operator hehe...I will explain more on the ABC target toward end of this post.

Coming to all the hulabaloo yesterday...I guess when you have money on the line, its natural to become a bit emotional. When positions go my way, I cannot help but feel happy right? I am only human. I try to control emotions during a trade but after a trade gets over, I think I have a right to crow a bit. If anyone does not like it, please scram..This blog is not for you. When you have money on the line, when you put your trades on the line, its your credibility on the line...I dont know if anyone else has the guts to do it..Or follow up. What I do in this blog is unique in its own way..Its based on ACTUAL Trading..Unlike other big picture analysts who make viewpoints which are not tradable.

Comments - I enjoyed them a lot last night...And today morning...Lets keep the comments and ideas going...If you have thoughts, ideas etc, please do post them in the comments section...I am always on the lookout for new ideas, views, stock ideas etc etc...Most of the time I dont get time to look at different stocks so things like that would be appreciated in the comments section..

I think Neil compared this to evilspeculator.com...Wow I am fan of that site and happy that someone thinks I am close...But miles to go...

Okay now coming back to the ABC up target I called yesterday...Whats this Voodoo huh? Nothing simple ABC structure at minimum...Even though I did not trade it, I enjoyed that move after covering the short...

Explanation goes like this - After the downmove to support area 2540, it was natural to expect an upmove..This is why I covered. Next after that, a deep retrace...So see the first upmove was clearly impulsive. And so after the downmove taking support at 2560, we had an equivalent upmove leg again to 2620 and higher. So at minimum we have 3 waves in every move...A-B-C. If this is developing into a more bullish wave, we will have 1-2-3-4-5. Right now its too early to say but yesterday, the odds of having atleast a 3 wave move was high which is why I said we can get to 2620 and above...




Just thought I'd explain a bit on my call yesterday..Not sure if it sunk in..Some things can only be explained so much :) but if any questions, shoot in the comments section...Remember I dont have anything against constructive criticism...Its baseless accusations that I or anyone else for that matter cannot tolerate.

We shall see more on market later...Have a good weekend all.

Best.