NIFTY FIFTY

[Czar]

DUSTED Cleaned Vaccumed oiled greased & Ready for Action, Aye Aye Sir ! please please please since you motivated me to do this from your comments in Asishda's thread

We need you for this:

 

[AMITBE]

DUSTED Cleaned Vaccumed oiled greased & Ready for Action, Aye Aye Sir ! please please please since you motivated me to do this from your comments in Asishda's thread

We need you for this:

LOL Czar.

Now who may that evil one in the picture be who steers the markets southwards??

In time, my friend, yes.

Thanks for all that dusting though. You must be covered in it?

Now all I need to do is clean and dust my head a bit...then will start.

Thanks again.

Amit.

 

[Czar]

ofcourse he's the rogue trader & yes he loves the dust Kal kare so aaj kar aaj kare so ab.... Sant Kabirji told me to convey this message

 

[karthikmarar]

LOL Czar.

In time, my friend, yes.

.......
Now all I need to do is clean and dust my head a bit...then will start.

Thanks again.

Amit.

Ahh... This would be a great Diwali gift indeed.. Waiting in anticiaption..

 

[uasish]

Indeed a Gr8,Diwali Gift ,to day morning was thinking aloud in some thread about the revival (did not see the that Czar already dusted it )awaiting with Karthik.

 

[AMITBE]

I must admit my head is still quite dusty, as dusty as this thread has been, which Czar so kindly dusted outand Karthik and Ashish so graciously visited recently.

Wellthe habit of tapping out a daily piece is long gonethe fingertips and mind dont coordinate very well, but even so, Ill make an attempt.

Times have changed at Traderji since I stopped posting here: There are several top rated threads running now, besides Saints and Karthiks.
Reviving this thread may well just add to more bandwidth usage.
Lets see how things pan outbut Ill make the attempt.


Before going any further, in a manner of doing a recap of past events to pick up the current action, I felt I had to quote from a few of the past ramblings of mine. Three posts have quickly come to mind. How relevant these are today is the moot point, as they say, but I had to begin somewhere.

From 1st June 2006:

Smart money, big money, FIIs and assorted hedge funds, emerging market fundsthese are all the dog eat dog being discussed here.
To make an alteration, perhaps our own Mutual Funds should be termed as Underdogs.
Then dribbling down to us commoners, perhaps we are the hot-dogs meaning a form of snack, by extension meaning dog food.
Further our money is going to the dogs, as another expression goes, while ironically in these terribly depressed times, the Monsoons are here and its raining cats and dogs out there.
And to borrow from the title of my favourite Al Pacino movie (Al Pacino of the God Father fame, and please, thats not Dog Father!!) we have another Dog Day Afternoon coming upon us.
Ragdoll will be mollycoddled, to what extent one does not know, and then the game will turn vicious again.

Im not being flippant or light-headed here, but at times its also important to be like a cartoonist, or a caricaturist, in describing a setting with a grave sense of irony and sardonicism.
Humour need not provoke laughter each time.
And when it fails to do so, the seriousness of it is deathly.

Yes, the FIIs are playing a deathly game of hotting up the action in several markets around the world, and then abruptly pulling out on claims of over heating.
And the rest can go to the dogs, of course.
Buy in cash, sell in f&o, then say things that sends the chill down the markets.
They win no matter how the coin falls.

From 2nd June 2006:

If an Archeologist were to drive past the little hamlet that now lies in ruins, the unresolved question would be what brought about the downfall of the once thriving center that was slated to rise to heights beyond even the envy of great empires.

Man! Ive never visited any digging site like this since I got out of college with my Masters in Archeology and Social Anthropology.
Oh lookthats Hind Zincand therethat used to be Reliance Capital owned by the younger of the Money Brothers.
Yeah and lookremember Daburand McDowell? Oh man!
And that upstart BSEL Infralook at that.
What happened to all the Blue Bloods?
ITC, HLL, Maruti, Satyam, TISCO the lot.
And they say ONGC held out till the very end, before keeling over, unable to withstand the frenzied assault.

What massive destruction.
Hey, has the downfall of an empire ever been measured in terms of Fibonacci retracements?
Does it really go down the pits in Three Wave patterns?

Was there an earthquake that left behind such savaging?
Or was it bands of invading mercenaries who came to hunt with weapons of mass destruction? (Albeit financial weapons of mass destruction)

A bit of both perhaps.

A lot of pressure and stress had been built along the fault lines, and then came the collapse.

As for the invading mercenarieswelltheyre still hererummaging through the ruins.
Be sure, theres still a lot of riches to be found buried here still.
Theyre not done yet.
Then once theyre done, theyll line up to bag all the rebuilding contracts, if they are allowed to have their way.
And when will they be done?

Well, one lot of the mercenaries called Nomura just came out with a proclamation that says the fair value of Sensex is atwas it 6000or 8000. Does it really matter?
Theres more to plunder yet.

The levels were arrived at using technical parameters like Fibonacci retracements.
So had the bandits come here in the first place, having determined Fibonacci extensions in five waves where the fifth peaked at unfair values?
Good grief!

Hey guysplunder all you likebut spare our wounds the salt.
At least dont go talking of whats fair and whats unfair.

From 7th June 2006:

I had once come across a critique of a famous childrens folktale:

''In the tale of Goldie Locks and the Three Bears, Goldie Locks is portrayed as an innocent girl, a victim of the menacing brown/black bears who are portrayed as the aggressors.
Its a common themed stereotype of the harmless white woman against dangerous blacks.
And all the while Goldie Locks goes into their house, eats their food, sleeps in their beds and runs away without even a thank you.''

So?
Whether the aam aadmi can be equated to the angelic Goldie Locks or not, but folks, perhaps we should now thank the big bad bears for propelling down our markets to where they may appear attractive again.
But then, as they say, beauty lies in the eye of the beholder.

For Namura and its ilk, the markets will appear voluptuous, luscious and desirable at lower levels: Who would want an obese and overfed Goldie Locks, eh?
The skinny and anorexic look is in, its the stuff sexy models are made of.
So sit back and enjoy the show on the catwalk.

And does anyone remember someone who said the valuations were mouthwatering about 300 points up on the Nifty a few days ago?
Strange perceptions of beauty all around, isnt it.
I wonder if that drooler is now watching the Nifty turning more attractive and mouthwatering by the minute.
His mouth must be pretty dry now, I wager.

No, the signs are not good.

So, in the here and now:
As old readers will know, that dog eat dog phenomena refers to the FIIs and their looting, you knowLehman Brothers and the like.
The game has all but reached its execution, the climax: LM, in its quest to plunder the underdog, finally died. Other dogs are feeding on its remains. Now we understand exactly how this game ends.
Blame it on the dog, or on the master?
After all, in the free-for-all model of capitalism, the rule says (if there are rules) let there be no limit to length of the leash on the dog.
Well then, give a dog enough leash and eventually itll strangulate itself in the tangles in the climactic scene.
This theme is being played out at so many other dog-fights.

What of the Archeologists story?
It seems following the last earthquake, there was a lot of reconstruction and the Empire rose to even greater heights.
But this time two things happened:
One, the cycle of rise and fall was short lived. The fall came quicker than expected. It had been rebuilt with a lot of hot air.
Two, and this includes the reason why the rise was short lived, is that this time the quake started in the dogs own backyard.
It began with the collapse of the doghouse itself. The dog has no place to hide. Scary thought.
Then guess what? The DogEmpire has roped in all of its own underdogs, (or is that hotdogs), taken their moneyhundreds of billions of itto mend all the collapsing doghouses. Ironically still, it was the collapse of the little dog-dwellings bought by the poor hotdogs out there, that is the genesis of this epical climactic scene.

Then what of our own Goldie Locksthe lead heroine hereour own nifty looking darling?
It seems after all, that the big bad bears let her feed on their food (read dog bones) and pulled her back from the brink of anorexia induced death. This was back then.
Closer to now, as she got obese again, the dogs ran out of dog food all round.
Over the last little while they have got her to regurgitate her innardsand they are baying for more.
This is not cos the skinny and anorexic look is back in vogue.
This is no beauty in the eye of any beholderno bathing bust beauty this one, but more like a grotesque shot from the black and white days, where the pale and haunted beauty is discovered in the bathtub, her wrists slashed and bleeding slowly.
Is this a cover for murder? And who staged this shot?
But the suicide note says the GDP numbers were falling, IIP graphs were sinking, inflation was threatening.

The Goldie Locks story is being remadeand it does appear the producers need a different ending this time. What will that be?
Lets just say, wait for the doctors to fling open the surgery doors and make an announcement. Suspense too is an important spiceand right up Hitchcocks street.


As for the levels I posted in the past, I wonder if I should move to Nifty Futures from spot? Will need to do some data mining! (forgive me Ashish )

For now, on spot Nifty, the crucial levels are 3367-3374-3388 and 3395.
It will trade stronger above that and will run into congestion above 3423.
It weakens below 3343-3331-3316.

 

[Saint]

And the Man's back in action........

Great post as always,my friend,and good to have this thread alive and running again.

Saint

 

[Czar]

GreaT digups & great post...

 

[uasish]

Marvelous,Man your Language is so fluid & Lucid,Gr8 to have you back in Flow again.

 

[pkjha30]

Its great to see Great ones in action again. Though scary post from Horror movies. I am sure old members would have memories of what lies buried and anticipate what lies ahead of us.

Thanks AMITBE, forum is getting its grandeur back which once lured me here.

pk