Now Dow is 1.2% down. SGX is 70 point down.
We may will miss the easy short entry below 10550 like what I did today Bank Nifty below 24678.
The bad news is one of the strongest stock Reliance is in bear grip too after Gormint instructions. Gormint cut only Rs 1.5 rest Rs 1 is burden to OMCs.
Gormint is helping bears.
In the mid market Rs 2.5 Cut with Rs 1 burden on OMCs.
***********
That news of possible Tax cut and burden to OMC was flashing on the CNBC screen around 2:40 PM itself.
I can't believe that Jet li can announce it in the mid market so kept a trailing stop instead of booking long in BNF. Ultimately my trailing stop hit, left some profit in the table.
Next time I'll be more careful about jet li. They don't care about bulls or bears.
Creating more volatility in the market by pushing the panic button. Volatility helps only the bears.
Reliance lost almost Rs 100 single day, whole day down trend, perhaps insiders got the news about key decision early.
I have already said, OCTOBER is the month of BEARS.