Tuesday, November 10, 2009

Why I feel it is the time to drop again….

imageFirstly, I am have not gone into the kind of depth I would have normally gone before updating this blog but all the same there are some teasers that I would like to put across. Take a look at this clipping. Firstly we had a sharp fall that started 16 days back to be precise. Then we had a bounce back that was expected. Now.. Now.. This bounce back has touched the 61.8% retracement and I feel that this is what is would have been and the potential at the moment to keep going up has exhausted. The course of action that I expect in the order of precedence is – First scenario – we fall back making a lower bottom. Second option is that we consolidate here before going up again. Whatever the market does – it is pretty certain that we will see these levels or lower for a few days more.

Rest – frankly either the market knows or Ofcourse the LORD Almighty.

staying positionally short with adequate protection (options) may bear fruits…