Mate are you still long? I am losing hope and have squared off some positions today. This China thing is weighing in too much also if we are heading the same way China has fallen more than 10% from its peak with Hong Kong falling the most in past 3-4 months and registered a total fall of 15-16%. US found a good support 10170 and slowly but steadily rebounding from it. So is the European Markets they still haven't tested their december lows so its a mixed picture. Not sure whether to hang on my boots and wait for a reversal and or some up move and then enter or go short from here on. The reason I say short is because if you plot a Fibonacci retracement from Low of March to the High of 5310 we get to a level around 4670 or between 4650-4700 which looks quite possible. This is 23% retracement this is exactly what happened after the highs in October if you check Fibonacci support was at 4550 and we just touched that and rebounded. Let me know your opinion on it. Many thanks
Mate are you still long? I am losing hope and have squared off some positions today. This China thing is weighing in too much also if we are heading the same way China has fallen more than 10% from its peak with Hong Kong falling the most in past 3-4 months and registered a total fall of 15-16%. US found a good support 10170 and slowly but steadily rebounding from it. So is the European Markets they still haven't tested their december lows so its a mixed picture. Not sure whether to hang on my boots and wait for a reversal and or some up move and then enter or go short from here on. The reason I say short is because if you plot a Fibonacci retracement from Low of March to the High of 5310 we get to a level around 4670 or between 4650-4700 which looks quite possible. This is 23% retracement this is exactly what happened after the highs in October if you check Fibonacci support was at 4550 and we just touched that and rebounded. Let me know your opinion on it. Many thanks
Hi Nimish,
I have no idea about what is happening in the outside world, except Dow which I check regularly.
I do have lost money in the recent downfall due to my error in judgment of bottom, but I am still bullish, and holding my longs, though with a MTM loss.
I am also having few shares of SATYAM @ 109 ..
I am planning to hold it..
And there are speculations that market will reach 10-11K level .. just read the moneycontrol article .. They say the market will recover after budget or after the second half of 2010 ..
Well lets see... want to know bunny's opinion about this according to her VSA technique