Wednesday, September 17, 2008

Wait your saviour is here....... ?

1301hrs: See the magic of my becoming a bear - I may save your day still - Thank me for becoming a bear. If this remains to be the trend - then short covering may just trigger ferociously. But all the same remain very - very cautious.

Okay this is what happens with my life in the stocks generally - as long as I am bullish the market falls and as long as the I am bearish - markets climb to new heights. So here I am - declaring to one and all that I am bearish - now just hold your breath and wait for the magic to start. The world has gone crazy - no one had time to read the market reports that I was having in my hands and gave invitation that I will mail to anyone interested. Now I believe... but seems too late ... nevertheless...

I really do not how I could have been bullish with the two indicators yesterday with rest all against the bulls! Any way I have time for mends as nothing much could have changed really. We seem to be in as thick sh*t as possible.

I will start with Europe diving down in deep waters - FTSE closed 5.61% in red, Dax 1.75% in red and Cac 2.14% in red. There seems to be no other colour on the streets. US that had closed respectfully yesterday opened and as of now dived deep in red. Dow is 2.9% in red, Nasdaq 3.38% in red and S&P down 3.45%. So this is going to turn out to be one of the worst horror shows for many. I do not have guts enough to say that there may or may not be a recovery in US towards their session ending.

International ques being so and so being our trading session today - I do not expect any miracles. The dragonfly yesterday could not work its magic and we opened - tried to go up in green and thereafter what happened is for all to see - we shed blood for one more day - want to hear something positive out of this? well there isn't any expect that 4000 on Nifty has held. Believe me - we may eventually break even this level - but it is quite a feat by the bulls to have saved this level. Volumes are more or less at the same levels. Bollinger bands are expanding giving a go ahead to this bearish session to continue. 5EMA is way below 20 EMA. MACD divergence has increased and no where in a mood to retract. Mass Index is above 25 and as I have been saying for last so many day - it is in no way showing any mercy to the bulls - fast moving for a change of trend (mid term) to bearish. RSI is way bearish nearing 30 marker. Ah! I take a breather as the good old Slow Stochastic is the only indicator that gives a shimmer of hope to the bulls - the red line above the blue line and above the 20 marker. TRIX too is siding with the bears.

Well I do not see any hope to save you blokes other than the fact that I have turned bearish and you will see a marked difference in the markets attitude starting tomorrow. Will try to update tomorrow -- If there is life left in bearish me by then...


allvoices

4 comments:

Crick_Love said...

I agree with you SS. The same thing happens to me all the time. I am almost 100% accurate in guessing how the market will not move. Also, there is some magic in my hand. The moment I go long in a stock F & O, it will fall 10% for sure and the converse will also be true. Stop losses etc are meaningless in these mad moves and whatever was made by me in last 4 months is wiped out clean and I might go under, twice that amount now too. Here are some stunning examples, last expiry, I thought that Infy went up too fast and went short. Guess what the whole world went long and it went up and up and up till it swallowed it all. I went the reverse this time. Went long at 1700..guess what we might see 1400 today. Where the hell this 1400 was, when I was shorting !! I can tell you..if the Lehman mess was not there over last weekend, we were all primed for a decent run..now, I am extremely worries abt by Oct longs and even Nov longs..i am finished !! say a prayer for me SS

geniusjaggu said...

arre cheema paaji,
do u really expect tat i shud give 5 stars daily to impress u than my love..ROFL...

seriously,good article of u,i do have HSBC report on india with me,tats y i dint ask it from u..

good write up of u,keep it up,:)

Anonymous said...

I know only if cheema thinks bearish will the markets recover.
Cheema think bearish, bearish, bearish
RFOL

Anonymous said...

paaji....great work...please be bear for the rest of the year...we can earn something by going long....just joking...hope you didnt book loss in your longs in morning....

c.m