Wednesday, June 25, 2008

I am guilty on all counts.....

Yesterday was the day when a turn round was possible. But then I had in all my wiseness thought that the market is likely to go down further. So when I saw the market in the green in the morning I'd prayed! The Almighty listened to me and slid the market into the red. I have been a mere spectator for the last few days. So I admit that I was one of the reasons the market closed red.

Today seems to be no better. Every day now we see US, Europe and Asia close in red. It is now no longer a matter of whether we close in red or green but the fact -- how much in red? As of yesterday the US --DOW was down .29 %, NASDAQ down .73 % and S&P 500 .28%. All well in red. In Asia Nikkei down .77 % and Strait Times is down .61 %.

Add to above inflation, high crude oil prices, lower US house sales and RBI's interest-rate hike. Where do we go from here? Well a little bit down perhaps. The saviour? The approaching Thursday and the fact that on the candles RSI and slow stochastic showing oversold conditions. On the negative side the three Crow pattern that was made on June 18, 19 and 20 is doing its magic. The TRIX is trending down, MACD red line is below the blue line and divergence is increasing.

However if in spite of above if we up in Green today it will be because of the approaching Thursday and that we are somewhat oversold. The short-term and medium-term remains to be red. So Best of luck to all those who want to swim in these waters. I am where I was yesterday -- on the sidelines. Nevertheless I do say at the cost of repetition that this is the time to buy if you have the money. You may not get such an opportunity again for a very long long time.

In God we trust. In politicians we distrust!


allvoices

3 comments:

Uma said...

interesting quote about God and politicians

preet said...

Thanks

preet said...

And you are up at 1:56 AM?

You will soon need to go to the doctor again if you don't start taking life a little easy.

Cheema