A rebound on the US markets kindle back global hopes.
Asia has opened in the green.
The Nifty has regained 5K.
We will cover shorts on the Nifty Futures today if the Nifty holds these levels.
POSTED BY SOMETIMESBULLSOMETIMESBEAR AT 9:57 AM
Nifty not able to hold on to its gains.
Asia closes up.
Europe opens up.
Dow Futures flat.
POSTED BY SOMETIMESBULLSOMETIMESBEAR AT 2:06 PM
Nothing seems to be working in the markets nowadays. One is reminded of a game of musical chairs!
A bounce in the US markets does not help the Nifty at all or did the KG D9 fiasco spook the Indian markets. It seems to be an overreaction though. One was aware of Laurel and Hardy until now, but Reliance and Hardy was too much to digest!!!
The Nifty is back to yesterday's close and, hopefully, Monday through Thursday settlement week will decide the Nifty Futures Future.
We had planned to cover shorts if the Nifty were to hold the opening gains today; however, the Nifty did not oblige. We continue with our shorts in profits and rework a strategy on Monday.
The Dow opens strong on a day and is in the dumps the next day. What a pity. As of writing it is struggling to bounce back from oversold levels. Microsoft's good Q3 showing does not help at all. Somehow, one is forced to draw an analogy between the Nifty (struggling to hold 5k) and the Dow (struggling to hold 10k). Lets await the Dow's closing today. We hold nothing on the US markets as of now.
Have a wonderful weekend and see you back on Monday.
POSTED BY SOMETIMESBULLSOMETIMESBEAR AT 9:19 PM
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Friday, October 23, 2009
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