Well after I well and slept yesterday, the market just took off and looks very strong right now. Even I have started questioning my earlier views - have to say looks damn bullish. I am still holding the shorts with the hedges. Today I will roll the hedges upward. Oct 12/13th - this is the timeframe I mentioned for a top. We are there. Now who has the guts to short? lol :)
I will be back a little later with more thoughts. Today we have to see how the market deals with 5150-5200. Above this and I think game changes.
Best,
Lee
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6 comments:
Yes here comes 13th ur predicted topping date. 5150-5200 omg, still bear is in bed! wake ur bear
As u said earlier 80week low is coming than it will be far below last low 4720 and if everything goes as per ur view than this bear attack will be fast furious and heaviest
Hi lee , jiggs good morning :)
Yes, lee as per "spiral dates" for US mkt also today is the "reversal date" my worry is it should not upward. 2-3 days before i posted Is dow may reach 11500-700..pity done 500 only 200 pending?? that may come today??? OOps.. but can't forget your "earlier cycle" views that's sooooo sweeeeeeeeeeet
And agree with your views waiting and watching as my SL got hit 5060 :P :D no guts to go long..earlier 5K calls also closed would like to keep my hand in "nov" wat say???
Sleep well :D
Hi Lee, Thanks for the update. Once again taken short positions yesterday. Hope Nifty has made the top today at 5137. Futures premium has come down from 13/14 yesterday to 1/2 today. Possible your prediction may come true today. Planning to short more around 5150/70 and keep it open for just one day. A new high tomorrow and close in Green than cover all shorts at a Loss by EOD tomorrow.
Hi Lee!
Even though I knew Infosys will rebound significantly on result day, I had still shorted market and carrying them along (with heavy burden of bg losses). My preferable view is that market will go down to 4830-60 to cover the gap preferably before Diwali to give bulls enough justification for a rally during diwali and recovery during 2012. However what I am worried about is whether this whole downturn cycle has already ended with 80 weeks low maybe at 4720. It is this scenario that will catch bears without breadth and will make a sustainable base for good long term rally
The gap of Sept 21/22 was just filled in terms of futures value.
The top of the gap was 5141 and Nifty made a top there and retreated today.
Sept 27-29 - Five week low
Nov 2 ---10/20/40/80 week low
This was the plan as per Hurst cycles. Luks as if it will play out.
Well Sept 26 was the low.
Lets wait for Nov 2.
Good going.
Guys thanks for the comments..
Jigs..maybe the bear has/is going back to hibernation for now..not before a short term pullback or weak downmove I think..
Sujatha..confusion..nothing more to say :)
bvdr, i think from now on till end of month, hit and run will be better option.
Aly, I also have the same fear but not exactly the same way you are thinking. I will touch upon in todays post...will be a little later to post today.
sbsb, the 5 week low was likely on Oct 4th.
Will add more thoughts in post..For now I think it might just be time to tone down on bearish expectations. Maybe a pullback only which will not break 4800 also. Maybe not even 4900. Will post soon.
Best,
Lee
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