Monday, October 5, 2009

THE FINAL CALL®™ - Oct 5, 2009

PRE MARKET
While many traders are expecting a blip in the Indian markets starting today, it is most likely that the market will wipe the smug smile off their faces.  The US markets, dynamic that they are with all the reports coming out on a daily basis, were anyway looking downside from a short term (3 day) point of view.  We will start our short term downside with the Q2 results.  For the time being, longs still carry some spunk.

Asia has opened resilient today in spite of the Dow being weak overnight.  The SGX Nifty is looking downwards; however, should recover as Indian markets open.

If you watch global markets carefully, you will see the infamous Maradona's "Gods Hand."  Who are the Gods is a matter of conjecture, but there is no doubt that these hands manage global markets very skillfully.

We hold Nifty longs.  Await further updates.
POSTED BY SOMETIMESBULLSOMETIMESBEAR AT 9:19 AM

POST MARKET
Expected correction in Indian markets.  The Nifty has not been able to break the 5080 resistance levels since quite a few sessions.  A retreat was due.  We covered our longs of last week at minor profit and have taken up short positions on the Nifty Futures.  No positions on any Equity Futures due to lack of clarity.

US MARKETS
The Dow is precariously poised at make or break levels, and even with the modest up tick as of noon, it does not appear that this bear rally will pummel forth.  There is too much of gloom doom news out there and the moment there is some respite something new pops out of the can.  We are not holding any positions on the US markets as of today.
POSTED BY SOMETIMESBULLSOMETIMESBEAR AT 9:37 PM

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