They say that not all dogs resemble the fly-by-night wolfish types that swarm a promising market and jack up the action, plunder as much as possible, then just as swiftly pull out all plugs and go baying and scampering looking for new victims.
It seems there is a noble breed amongst the dogs that has a wider, long term perspective on things.
It seems this kind is still hanging in.
But then, how much wider can a dogs vision be beyond a kill getting leaner.
And no doubt, for a lot of new comers in the game, say those who came in around the 3000 levels on the Nifty, the kill has suddenly gotten rather lean.
In fact some of them may even be staring stop losses in the face.
So was the massive buildup of shorts in the futures quite abruptly yesterday, a panic response by some of them. Panic amongst dogs, thats a scary thought.
Quite possibly, as they have to show something for their efforts.
Then again, a dog is a dog, and one is closely related to the other by its killing instinct.
Theres no two ways about that.
Somewhere along the line, a few will step in to raise the markets again, perhaps quite soon.
This will be done for some trapped dogs to exit, and at the same time trap Ragdoll in a false sense of a reversal.
Then theyll pull the plugs again to lower levels.
Then somewhere along the line theyll all nod wisely and say, yes, the valuations are now really attractive, and then the wheel will be reinvented.
Theres pain ahead people. Just hang in.
For supports, the long line is 3180-3176-3172-3167-3162-3157-3152-3147-3142-3137-3132-3129-3126-3120-3114-3108-3102-3096-3090-3084.
Its important to hold 3077-3065.
To the up, will have to do this from a lower level later.
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