Wednesday, November 28, 2012
The day's action started with a gap down and for a moment looked like the markets were headed down. Buy programs kicked in at the hour from the opening and the markets built on the momentum. It is important to watch the price action and not assume or predict the direction of the markets. Betting against the market is a loser's game. It is not about whether you are right or wrong on the market direction. It is all about how quickly you change your opinion if you are proved wrong. Bottom line, markets appear to be choppy but are holding their ground.
Monday, November 26, 2012
Tuesday, November 13, 2012
Markets continue to sell off. No respite on selling. What is disturbing though is that the breadth numbers I track are not at extreme territory despite the sell off. This means there is more room to downside. Short positions have continued to work well. We are in a zone where a bounce could materialize. But watch the price action of the Markets and do not make any assumption. The market is in correction and it needs to be played out. Patience is key.