Today the the board markets retraced 50% of the gap down...$NDX is showing minor weakness and the $SPX is correcting to the 990 area (we have been here before)...the $VIX is staying above 25.00. Wednseday is critical due to POMO.
http://www.freetradingvideos.com/vlog/default.asp?Category=2 Date: Mon, 17 Aug 2009 15:05:51 +0530 Subject: {GS} Update @ 2:50P.M--Caution advised in short term-A.K.Prabhakar From: [email protected] Update @ 2:50P.M Indian Markets has Gapped-down as expected and this market is not above recover any close below 4380 would confirm more weakness. 1) Sensex and Nifty futures has Gapped Down forming Weekly gap-down and Island reversal which has very big negative implication. 2) Nifty in the Graph show Head & Shoulder formation so break below 4380 would lead to previous low of 3900 or even below. 3) Selling has been in sectors like Realty, Banks, Auto, Metal and Oil & Gas and one should be careful with high beta stocks at this point of time 4) Commodity market saw sell-off after data suggest U.S. consumer in no mood to spend and weakness in China and other Asian market would pressure FIIs inflow. Caution is advised in leverage stock and would also advise booking profit and increasing cash position @ this point of time. _________________________________________________________________ With Windows Live, you can organize, edit, and share your photos. http://www.windowslive.com/Desktop/PhotoGallery --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
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