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...