Tuesday, July 31, 2007

Random Thoughts....

Justice at last...

I often fail to understand the Indian audience. There is this guy who's accused of holding a 'kaleshnikov' goes around the world teaching 'गांधीगिरी' and guess what he's a big hit. It seems no one gave our 'मुन्ना' a toy gun when he was a kid, so when he became 'भाई' he got ihim self a kaleshnikov instead. You know those unfulfilled dreams of childhood. Finally there is justice though. I know this is going to be symbolic and doesn't mean much, but it still a blow in the face of crazy audience... There is going to be a supreme court appeal and if in the worst case Mr. Dutt goes to jail, it's going to be nothing beyond change in address.

Good Job Mr. Y V Reddy

Reserve Bank yesterday increased the CRR by 50 basis points, almost "unexpectedly", squeezing away 150bn rupees in liquidity. This was a great job by Mr. Y V Reddy, who walks his talk. This shows Mr. Y V Reddy is more "concerned about economy than stockmarkets". Great job sir!!

Smiles on the face....

It would have taken a heart to go short yesterday evening. Something told me I should and guess what I did.. The logic (ok it is easier to explain stuff when it proves right.) but here's the logic. Yesterdays rally towards the end resembled something. (see the chart below, taken from icharts.in ). It told me, if there was a chance of going short it was today and if I was wrong, doesn't matter, cover it up with a stop loss at 4550. They say in minyanville , if you are disciplined, you can pretty much do anything. Discipline is the key.. that is the lesson that I have learnt in my short and 'not so much to write home about' trading history.

Oh well and while I finish this markets might have rallied past the dip, but thats market for you!!

Anyone interested in reading charts about Indian stocck markets, icharts.in is your answer. it is really really very neat. It's not yet my dream charting software, but closest to being useful..

Disclaimer: The stuff discussed here about the stocks is a personal opinion and should not be treated as an investment advise in any way. Investments should be done solely on the personal opinion and risk appetite.

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