es

looking to go long on all dips to 1202-1195 with sl at 1186.75 tgt 1 : 1225-30 tgt2: 1250.

sensex

a lot of socks look poised for upside break which coupled with the fact that index is not falling with any speed, a nice rally is coming. worst case is sideways movement in index for a week or so.
stock focus is required.
i like jsw steel, idbi, infosys, hdfc, hdfc bank, litl, titan, andhra bank, allahabad bank, dena bank,
biocon, ge shipping as of today. new series should see some action especially with support from eurodollar.

shakeout

spx shakeout has happened.so a good run should come about-maybe 1275.

gold

i like gold ..though looks an obvious buy here , so just undecided.1130-35 seems a bottom.looks good for 1250 and 1400 or thereabouts.

real purpose

i am not a fancy reader of blogs, but just looking around ,
i ve come to realise that maybe the whole purpose of gaining technical expertise is not to make money through trading but to sell subscription based services!

ES

a good zone for short is 1195 tgt of 1171-68.stop 1205.25
shorting at 1186 doesnot appeal to me for its nearing support and stop is far.

volatility

like the volatility on spx.next run up on spx to 1250-1300 cannot come without a shakeout of longs.maybe thats what we are going to get here.

child

We are guilty of many errors and many faults,But our worst crime is abandoning the children,Neglecting the fountain of life.Many of the things we need can wait.The child cannot.Right now is the time his bones are being formed,His blood is being made,And his senses are being developed.To him we cannot answer 'Tomorrow'.His name is 'Today'.
----Gabriela Mistral (1889-1957), a poet from Chile who won the Nobel Prize for Literature in 1945

to win

The key is not the 'will to win' - everyone has that. It is the will to prepare to win that is important." - Bob Knight

general

euro is acting funny, wonder why.
spx is moving on expected lines and is showing more strength than desired, which may be a function of the fact that in general public and traders are not committed longs.from 1200 levels it doesnot do enough to shake longs on legitimate GS news.thats strength.

indian nse is static though pockets of stocks are showing strength.

gold is consolidating before a move.
my expectation is that shortly and slowly, spx should become volatile and gold and eurodollar more tradeable.

spx: need to be long

need to be long somewhere at 1195-98 ES with a stop at 1185.75.
tgt 1:: 1225-30

spx

market timing

i dont understand and am quite indifferent to fundamentals but my own twisted understanding says that a lot of ownership transfer will be to 'stronger' long term players who believe in the inherent strength of the country, spirit of enterprise and economy and so , say Buffett /jhunjhunwala types.there will be correction and corrective phases but the long term upward pressure has begun and it will be extremely extremely difficult to time stock market purchases especially in markets showing strength like india, and to make serious money over longer horizon one has to buy all significant dips.

listless trading

ideally spx should be 'frozen' and then shakeout with a drop to 1160 zone.
or maybe i am just guessing too much here.

but its good to have no position here.!

euro dollar

euro has started moving favourably.
it should move above 1.37 and not break 1.34 levels. 1st tgt remains 1.41

1195 is here

1195 is here. i would like to exit here for once, i have some spy may calls .
the reaction at 1200 will suggest how much downside, if any, is to come.

EURO DOLLAR

my technical take on eurodollar :

1.
Eurodollar is in a downward corrective .Hence all rallies will be meandering and not very sharp .

2.
The long term bottoming zone for euro dollar is 1.28-1.30 zone .It should make a bottom within next 6 months with 1.30 as a solid support zone.
It looks extremely unlikely that eurodollar will reach 1.24 or lower levels any time soon.

3.
Eurodollar in a shorter term , is near support and should begin a counter trend upmove to 1.41-1.43 zone with a good chance of reaching 1.43 within next 6-7 weeks.

4.
If such a rally as above comes about it will be a point of EXIT for short term play as a move to 1.30 should come about after such a rally.

5.
A move below 1.30 without a rally to 1.41 levels will negate the analysis.

spx

the news is getting better, 1225-50 looks on cards after a smal blip before 1200.
it will be very surprising to see spx not reach 1225-50 and then go much higher than that.
volatility should set in at these levels.

but this is the forecasting domain.
longs should be exited near 1195 levels for once .