Diary of a day trader - Part 2

[arcus]

Guys, we are reaching the end game. BN has gone up 700 points in 2 days, Nifty has gone up 175 points in 2 days.

In the end game, the index just goes vertically up as if its inhaling deeply.

I think it has enough steam to reach 6300 in the next 2 to 3 days. But after that, it will be checkmate for the bulls.

(Look at the November 2010 charts for reference)

 

[del_66]

Guys, we are reaching the end game. BN has gone up 700 points in 2 days, Nifty has gone up 175 points in 2 days.

In the end game, the index just goes vertically up as if its inhaling deeply.

I think it has enough steam to reach 6300 in the next 2 to 3 days. But after that, it will be checkmate for the bulls.

(Look at the November 2010 charts for reference)

look @ the long term charts buddy... bulls have laid a strong foundations this time...

http://www.traderji.com/general-chit-chat/76650-nifty-50-_bulls-36.html#post804823

 

[arcus]

look @ the long term charts buddy... bulls have laid a strong foundations this time...

http://www.traderji.com/general-chit-chat/76650-nifty-50-_bulls-36.html#post804823

u know there is an old saying.."The good fighters of old first put themselves beyond the possibility of defeat, and then waited for an opportunity of defeating the enemy"

Its okay bro. Different opinions form the market. As Sudharshan Sukhani said in CNBCTV18, this is not how bull markets are formed. Anyway, let the markets decide.

Bull market are born out of extreme pessimism and a PE ratio of atleast less than 12. This time it has hardly reached 16 (in Dec 2011)

I will happily short the index after at least one negative day when it reaches 6300.

 

[EagleOne]

Guys, we are reaching the end game. BN has gone up 700 points in 2 days, Nifty has gone up 175 points in 2 days.

In the end game, the index just goes vertically up as if its inhaling deeply.

I think it has enough steam to reach 6300 in the next 2 to 3 days. But after that, it will be checkmate for the bulls.

(Look at the November 2010 charts for reference)

I think I read somewhere in one of your very recent posts that you would be selling the tops and buying the dips, until it crossed 6100 or 6300 (I don't remember). And you referred to BRIC nations to support that the Jan downtrend was still intact... Correct me if I am wrong to say that you thoroughly missed the begining of the game as you were busy shorting, and now you want us to see whether you are right about the end game. In 2-3 days, you say? Ok, we will humour you. But may I ask: did you make money or not yesterday? I guess not. Why I say that? Because if you have had, then you wouldn't be thinking of end-vend game. If I were to read between the lines, my friend, then I would say you are now stuck with the shorts as the market's rocket move left you high and dry. :lol: That is the real end game that all the forecasters face sooner or later... You know I don't find any big difference between a market forecaster and chameleon. The only difference is, chameleon is wise. It changes colors naturally, effortlessly to best adapt itself to the dominant color of its immediate environment for protection. The forecaster makes a fool of himself. He waits for the environment to change colors... Descartes must be f***ng stoned when he said, I think, therefore I am. If he were sober then it would be: I forecast, therefore I get screwed. :rofl:

 

[arcus]

I think I read somewhere in one of your very recent posts that you would be selling the tops and buying the dips, until it crossed 6100 or 6300 (I don't remember). And you referred to BRIC nations to support that the Jan downtrend was still intact... Correct me if I am wrong to say that you thoroughly missed the begining of the game as you were busy shorting, and now you want us to see whether you are right about the end game. In 2-3 days, you say? Ok, we will humour you. But may I ask: did you make money or not yesterday? I guess not. Why I say that? Because if you have had, then you wouldn't be thinking of end-vend game. If I were to read between the lines, my friend, then I would say you are now stuck with the shorts as the market's rocket move left you high and dry. :lol: That is the real end game that all the forecasters face sooner or later... You know I don't find any big difference between a market forecaster and chameleon. The only difference is, chameleon is wise. It changes colors naturally, effortlessly to best adapt itself to the dominant color of its immediate environment for protection. The forecaster makes a fool of himself. He waits for the environment to change colors... Descartes must be f***ng stoned when he said, I think, therefore I am. If he were sober then it would be: I forecast, therefore I get screwed. :rofl:

Brother, every trader forecasts.

forecast definition from Google
Verb
(to) Predict or estimate (a future event or trend).

Since markets are non-deterministic, everyone who is participating in the market has to predict/estimate what is going to happen.

You are forecasting Nifty will continue to go up (and will base your trades on that assumption). I am forecasting Nifty will probably go down after hitting 6300 or the where-about(and will trade based on that assumption).

Yes, I had entered a bear put spread on the BN before the Repo rate announcement and no, I am not holding it now. I have long back closed that position at a loss. I accept my losses quickly and do not hold on to my losing positions brother. I am not convinced in this up-move and therefore I am not participating in it.

Please note that I have no short positions, so there are no lines to read in between. I have no positions at all right now.

If you are convinced and are participating, its good for you and I congratulate you on that.

My friend, please give opinions but at the same time don't make others feel lesser by calling them chameleons.

You may have opinions based on your reasons and I may have opinions based on my reasons. Just because the market is not going as I thought doesn't mean you can make fun of it.

Sorry if I have hurt anyone with my opinions. I will not post my opinions on this forum from now on.

Thanks.

 

[EagleOne]

Brother, every trader forecasts.

forecast definition from Google
Verb
(to) Predict or estimate (a future event or trend).

Since markets are non-deterministic, everyone who is participating in the market has to predict/estimate what is going to happen.

You are forecasting Nifty will continue to go up (and will base your trades on that assumption). I am forecasting Nifty will probably go down after hitting 6300 or the where-about(and will trade based on that assumption).

Yes, I had entered a bear put spread on the BN before the Repo rate announcement and no, I am not holding it now. I have long back closed that position at a loss. I accept my losses quickly and do not hold on to my losing positions brother. I am not convinced in this up-move and therefore I am not participating in it.

Please note that I have no short positions, so there are no lines to read in between. I have no positions at all right now.

If you are convinced and are participating, its good for you and I congratulate you on that.

My friend, please give opinions but at the same time don't make others feel lesser by calling them chameleons.

You may have opinions based on your reasons and I may have opinions based on my reasons. Just because the market is not going as I thought doesn't mean you can make fun of it.

Sorry if I have hurt anyone with my opinions. I will not post my opinions on this forum from now on.

Thanks.

What are you talking man? I am not calling you chemeleon! I would never equate any human with a chemeleon... I have too much respect for the chemeleon, you know! :lol:

Just joking.

 

[timepass]

There is a saying "Opinions are like assholes, everyone has one." Now, not every saying is true in all the instances. Fr'instance, in my case, I have two, three or four opinions about the same thing sometimes

Also, there is another saying about the bengalis - "Two bongs will give you 10 opinions" :rofl:

 

[humble]

..... I will not post my opinions on this forum from now on.

Thanks.

Chill man... :thumb: if you posted your opinion, somebody else posted a critique for it. Welcome to the online world .

In all my 4-5 years of experience i can very humbly tell you there is no point in prediction, setting targets for markets/stocks etc. Also if you don't mind taking advice, here's one from me: Stop following the analysts on cnbc tv18.

For example in Jan I happened to watch Ambreesh Baliga repeatedly say, we will see all time highs in Jan and we went to 5500 levels. And on Monday, he was suggesting to book profits. Don't give any importance to these people.

Trade the trend. Trend is your friend.

 

[soft_trader]

Chill man... :thumb: if you posted your opinion, somebody else posted a critique for it. Welcome to the online world .

In all my 4-5 years of experience i can very humbly tell you there is no point in prediction, setting targets for markets/stocks etc. Also if you don't mind taking advice, here's one from me: Stop following the analysts on cnbc tv18.

For example in Jan I happened to watch Ambreesh Baliga repeatedly say, we will see all time highs in Jan and we went to 5500 levels. And on Monday, he was suggesting to book profits. Don't give any importance to these people.

Trade the trend. Trend is your friend.

Not all analyst's are bad. Personally I do respect Sudarshan Sukhani. I closely follow his advice and opinion of Nifty.

 

[EagleOne]

There is a saying "Opinions are like assholes, everyone has one." Now, not every saying is true in all the instances. Fr'instance, in my case, I have two, three or four opinions about the same thing sometimes

Also, there is another saying about the bengalis - "Two bongs will give you 10 opinions" :rofl:

One could easily have a corollary of the saying:
Bigger the opinion, bigger the A-hole. Or...
Bigger the A-hole, bigger the opinion.

:rofl: