I don’t know if RIL, ONGC, Tata steel, infy, tcs, wipro are at their peaks and top of their resistance and inching/crawling upwards daily, well supported by bharti steady @328-331, icici bk hovering arnd @885, It makes me wonder if the expected correction is ever going to come… and am I trading on the wrong side of fence…
From: sharetrading@
Sent: Friday, January 08, 2010 4:57 PM
To: sharetrading@
Subject: RE: [sharetrading] MARKET CRASH
My opinion – No repeats takes place in markets which can be fore told. One must remain dynamic, with trailing SL’s. Remember always – Live for another day. (In last 2 days I lost 3K by way of SL) Which is possible only if capital is intact. But I made more elsewhere is another matter…………………….. SL is to be used in both directions……….
Next week the direction of market will be clearer. My feeling is that the target of 5400 to be reached before budget…….. What is happening now, is just hiccups. Irrespective have been seeing buying happening in many stocks…………. So the correction will be elusive.
There are many stocks even now, which have value…………….. and which are below 50% of their 2 year highs………………
Look what happened to a quiet stock like Rsystems – 20% UC. 2 yr high 350. YCMP 93.5 yesterday. CMP 111, Target 140-160.
Look at auto ancilliary stoks – Fmgoetze, Omaxauto, pricol etc etc, which are all steadily and surely inching upwards………..
Next should be textile… which are available at throwaway prices even now…………….
Most stocks which I have quoted here have returned from 3-10%..... in few days……….
We are the eternal optimistic persons waiting for the elusive correction always…………. And I guess that is why we would remain amateurs…………
Why correction this time is elusive? I guess there is a huge money waiting on sideline to invest by way of PF funds, Insurance funds and me and you……………. So the makers will make us run out of patience and make us buy at the top. Once they are aware that we are in, then they get out leading to most crashes………….
Abe
From: sharetrading@
Sent: Friday, January 08, 2010 4:22 PM
To: sharetrading@
Subject: [sharetrading] MARKET CRASH
As we kneww that markets had over grown, can we expect the same crash as in 2008 jan will repeat again.......
Happy Trading,
United we grow!!!
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