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[divnain]

Sell it off... since we do not have any clarity about the trend.

Sold 54ce@ 47.25

Sorry abt last minute confusion..

Will take next position on wednesday EOD or Friday Morning or whenever u guide

Regards
Divnain

 

[jamit_05]

Shorted a pair 150 OTMS of 52/55 of August Series for a total of 80+74.50;

 

[jamit_05]

Sold 54ce@ 47.25

Sorry abt last minute confusion..

Will take next position on wednesday EOD or Friday Morning or whenever u guide

Regards
Divnain

No confusion.

As soon as I take a position will surely make a post...

When the volatility comes back, the buying of pairs will perform well. No doubt about that.

 

[augubhai]

Yupe... in fact, I will risk 0.25% more from Monday onwards.

The Reason is very clear... this week's range has been ... ONLY 82.50... that is like the lowest since .... (get ready for it.... )

SINCE last week of DECEMBER 2009 !!!!!

And you know exactly what follows such extreme low volatility....

This is a reason to celebrate actually...

Thanks for this info. looking at the charts - there was not much movement in the following weeks of january 2010. so let's keep our fingers crossed

 

[healthraj]

So today also turned out to be Rangebound day. So finally the whole week turned out to be a rangebound week.
Actually today the market started as a Trending day. Made 20 quick points in the opening of the market (Risky Call though). Then when I saw a Wide Range Exhaustion Bar 10:05, I thought it is the end of the DownTrend and so I closed my Short positions.
As expected the market reversed... Since the ADX indicator was showing a value of around 50, I thought it would be a Trending session today. By the time it reached today's high, the ADX indicator was showing around 18 and so closed 50% of Long and trailed the rest to Cost Price + 5. So made another 20 points in Long.
When it hit the Trailing Stoploss, went short again and closed with another 10 points.
The most important point is the mindset about the market outlook as to whether it is Rangebound / Trending? Today whoever continued trading with the "Trending" mindset would not have made huge profit.

Hopefully next week would be trending. Happy Weekend to all.

 

[jamit_05]

The most important point is the mindset about the market outlook as to whether it is Rangebound / Trending? Today whoever continued trading with the "Trending" mindset would not have made huge profit.

Yes, you are right, one has to chose to trade and a trending trader or a range trader. But, honestly, it is not much of a choice really.

Even if I trade a ranging week properly, it gives mediocre profits in comparison. Whereas, a trending week can give returns in a few multiples of the best range bound week. The reason is simply... one gets no chance to add in ranges, we are forced to always be defensive... on the look out for exits.

Then again it is a choice one has to make....

 

[jamit_05]

Thanks for this info. looking at the charts - there was not much movement in the following weeks of january 2010. so let's keep our fingers crossed

Yes, that is a good point. The volatility may not just appear coming Monday... it may take a limited amount of time...

That week in Dec '09 had only 3 trading days... rest holidays... So this weeks ranks even lower in volatility. So it is likely that we may see a major range expansion in the coming days... we should keep track on the news front... and watch for option premiums rising sharply... so that we get a heads up.

 

[veeemkay]

Market might be waiting for the results to start kicking in. The heavy weights start announcing results from mid next week. Might see some movement then.

VK

 

[jamit_05]

Market might be waiting for the results to start kicking in. The heavy weights start announcing results from mid next week. Might see some movement then.

VK

Cheerios Vmk... that is it... this should fire up the engines pretty good...

Just, checked did not see any big boys results in next week... if you find otherwise pls post.

 

[healthraj]

Cheerios Vmk... that is it... this should fire up the engines pretty good...

Just, checked did not see any big boys results in next week... if you find otherwise pls post.

Infosys results are expected on the Thursday of 12-July.
Infosys results are not that great in the first quarter. So I am expecting market to peak before the results of Infosys. And Infosys might start the downtrend for this month. So next Thursday will decide the course of this month...