Bulls, Bears & The Lion

[trade4putuval]

Share the chart.. I still dont see a perfect morning star

it should be something like this

I know its not a perfect morning star.
But based on past experience, such patterns do look like morning star.

Rajiv

 

[findvikas]

Vikas, what does your VSA say? Should we buy put or wait for the US market to tell us a story?

Daily & Hourly chart both suggest more downside. US has no new story AFAIK..
Actually I can tell you the story...

Bernanke will come and say... US market is growing at a healthy pace, but we would like to keep the rates unchanged for extended period.. market will zoom... poor retailers will buy and then operators will dump it later.. :rofl: :rofl:

Thats whats going on in US since october.

 

[trade4putuval]

Daily & Hourly chart both suggest more downside. US has no new story AFAIK..
Actually I can tell you the story...

Bernanke will come and say... US market is growing at a healthy pace, but we would like to keep the rates unchanged for extended period.. market will zoom... poor retailers will buy and then operators will dump it later.. :rofl: :rofl:

Thats whats going on in US since october.

Then good! We can wait for the market to go up and add more puts to our portfolio. What you say!!

Rajiv

 

[findvikas]

Can't say right now.. 5000 is good support... or to be precise 4994.. which is 50% retracement of the recent bull run. once broken than you have 61.8% retracement around 4940 but below that you are free to close your eyes and ride it. Lets see how the settlement comes and how the market pans tomorrow.

 

[findvikas]

Finally where did we settled? 5042.05 ... but that's actually 2 points up from 5040.. 5040 is more crucial than 5050

 

[sumit.agarwal]

so what's profit/loss for today ?

 

[aditya14]

nice day but alas bears party may not run for long after today`s fed announcement

 

[findvikas]

Nice candlestick pattern course over YouTube
http://www.youtube.com/user/YourTradingCoach

Another good video guide to trading
http://www.informedtrades.com/trades.php?page=freetradingcourses

 

[findvikas]

US markets update... just before the FED announcement which will be "copy-paste" of the previous statements. Intraday chart shows the similar pattern as always on the FED announcement day... they have been buying $SPX in the morning and since past 1 hour.. its just selling (read it as distribution)

No wonder before the news or even after it within 5 mins market will touch new intraday highs and then sell off to close flat to marginally positive. Now the wait is just 40-45mins away....

 

[findvikas]

nice day but alas bears party may not run for long after today`s fed announcement

Ben has its vested interests to keep the interest rates to near zero due to the possible next year elections. He will not dare to touch the interest rates in anytime soon. So there is nothing to discount from the announcement.