still more tgts

bharti > 272 rocket move to 288 hot
tv 18: 105-108 hot
andhra bank: 150+ hot
axis bk: 1275
hdil > 235 tgt is 250+
itc: 293 hot
indiabulls > 159 tgt 190

more tgts

more tgts

bgr energy: 680 hot
ongc:1205
ivrcl - hot: 245
punj :(-) 105
lupin: 1925,1975
m&m: 645

immediate tgts

long in some stocks;
ifci: looks solid, 57.50.once it crosses 60 real upmove will be seen.
uco bank tgt 82-83.even 90 looks on card
vijaya bank: 62-63.
pfc: 312
bhel:2392-2404,2455

equity

sensex: no sign of weakness so far even on clearing day which is surprising.so i will continue to have no position till some clarity returns.tomorrow maybe 5070 levels be a levl to watch out for.
also after one fake close it is back on closing basis above 200dema.

spx.
strength is suggestive of a rally to 1125 levels atleast and hopefully all declines to 1085 levels will be bought into.

sensex

todays upmove got the index out of a tricky nested formation which would have been really something and would have damaged the structure.
still there is hope and one decline to go, which lets see where it leads to.
on the nse 4950-70 will provide a nice short entry.i will be looking to short here on any weakness for one good decline to a new low.

spx

if spx goes below 1025 then, for me, it is a sign that the rally high is in.so i ll be watching this now.it is going to bounce from these 1025 levels(if achieved) and come to 1100 which seems a good level to short in qty for 900 kind of levels.

bse

bse < 16280 will tgt 15950, 15700.
market hasnt shown requiste strength which means a panic is in store esp. in the sector which hasnt broken down: banks.
16075 seems the last hope else a meltdown panic is in store.

shorts

bse sensex has achieved minimum pattern implication. this is the pattern ( expansion) i suspected was forming when i said the minimum tgt was 4900, nse.
euro has confirmed upward bounce and hence should cover all shorts across equities.

on sensex any rise to 17000 should provide a sell opp.

spx

had alow risk entry to go long on the spx at 1125 ES. the stop loss is 1099 and it shouldnot break yesterdays low now though. todays cash action will make that as a stop loss , i hope. tgt 1 is 1160

current

it is best not to have a long term view but just trade short term. extremely high volatility.

euro is really king. 1.22! thats incredible.crude continues to fall.

gold

thats gold power 1241!
this is why i like this beast.
but caution is advised here as almost at tgt1 of 1250.

update

nifty shorts exit : looks well timed .
tomorrow market will attempt 5250 levels, which is in a way decider level .but stocks have shown tremendous strength which augurs well for the bull continuation.

on the spx 1085 was expected at the maximum after the other days decline and it fell to almost 1090 i think which is now bottom for a while.
all signs are in place for a continued run to 1270 levels.neely expects a deep triangle but i am not so sure . some sideways consolidation but certainly not deep enough to provide a low risk entry , which will be 1125-30 zone.

why i dont make money

Insanity: doing the same thing over and over again and expecting different results.Albert Einstein

this is just the reason when i dont make money: repetitive mistakes.

to quote

Experienced traders have playbooks. We have if-then statements for recurring set ups. We only make these trades in our playbook and according to our if-then statements. Many traders do not have a playbook and/or cannot consistently follow their if-then statements. So really for us trading is just a game of math. Make enough trades where our win rate is 60plus percent and our downside is one with an upside of five and it very difficult for us to have a negative month.
But there is something more. Experienced traders emphasize certain plays depending on the market. They adapt. So in a slow uptrending market they focus on buying pullbacks and breakouts. In a volatile market, which may have just started, they focus on playing the momentum. In a range bound market they focus on support/resistance and fade trades.
But then there is even something more. There are subsets for all of our plays. And through market experience we can tweak our plays to trade these subsets. So if a stock pushes above an important resistance level and then fails, we are short. An inexperienced trader sits there carping about how the stock failed to breakout, 50c out of the money.
But there is even something more. When I have a few losing days in a row I have a talk with myself. This is not written about very much in the trading blogosphere. I succeed as a trader because I view myself as a successful person. I will find a way. No matter how tough the market. No matter the HFTs, unpredictable reversals, or supposed market manipulation.
After these negative days I insist through focused mental preparation that I trade only my best set ups for the market I am in at the time. And I am not sure how many people are able to do this. Most succumb to their lowest common denominator. They bitch about their firm, the trading platform, the structure of the market, who they sit next to, their payout, the HFTs, GS, Greece, or whatever else makes them feel better about themselves but does nothing to improve their P&L. Instead of seeking a solution to their underperformance. Consistently I demand mentally and statistically that I am in the plays that make sense to me depending on the market we are in.

quote

“ If I hadn’t made money some of the time I might have acquired market wisdom quicker.”

buffett

Decision making
"The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage."
Career decision
"It's crazy to take little in between jobs just because they look good on your resume. That's like saving sex for your old age. Do what you love and work for whom you admire the most, and you've given yourself the best chance in life you can."
Investment
"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."
"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently."
"Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway."
"I'll tell you why I like the cigarette business. It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loyalty."
"I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will."

gold

gold is doing what it should be doing (though slowly).
heading for 1250 hopefully where i will reassess what its doing.

bull vs bear

such sharp cuts should ideally signal bull market continuation.
or a long bear coming...
i would like to see bear for a while imply because there is too much good news flying around !
but yesterdays move looks still like a bull to me .

nifty shorts

looks most wise to cover shorts here.

repeating earlier post

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.!

realisation

the other day when my sl on spx was triggered , i took it lightly though my in my mind i was feeling that this shouldnt have happened.still i didnt analyse it well that time that this points to abigger weakness.thankfully yesterday ,looking at reaction of stocks i realised that a larger correction was looming.
on ES i was initially expecting a shakeout of longs to 1160 level which seemed very likely then and has come about now .lets see the reactions at these levels and take a call .now we know why euro was acting funny since it didint wanna rally.!

nifty

i am long idbi and fortis.lets see how much damage occurs tomorrow.my tgt on idbi was 132-33 and fortis 182.
seeing the longer term nifty chart , it looks quite possible that 5600-5700 should be hit.