Food for Thought........!

[kumark]

Hi

Even i am thinking Same..Will stop from now....

Sorry SS ..

Regards

Kumar

Am a dumbo , never knew about it yaar. Thanks for telling again, got it bookmarked.
Hey we should stop these things here or else SS sir will give a nice scolding , already got a infraction from ashish sir yesterday in his thread

 

[S S]

Hey... some Media guys writing here with assumed names?

How else can I be turned into a dangerous Monster overnight?

Poor me. I just keep saying that I could be wrong and may be corrected... and what all I get in return is,....to be the chief of Monsters?

Someone is definately serving non-veg food in veg restaurant.... ! It is the food alright, but with the name plate of "Monster : To be or NOT to be".... which has nothing to do with stock markets

 

[coolboy007]

Hey... some Media guys writing here with assumed names?

How else can I be turned into a dangerous Monster overnight?

Poor me. I just keep saying that I could be wrong and may be corrected... and what all I get in return is,....to be the chief of Monsters?

Someone is definately serving non-veg food in veg restaurant.... ! It is the food alright, but with the name plate of "Monster : To be or NOT to be".... which has nothing to do with stock markets

HEHE sir never mind. I was being cautious after being told to No chitchat , but not eveyr1 is the same
Just afraid , no non-veg plzz today is bhai duj.

Did you get your laptop repaired sir???

 

[coolboy007]

The GDP for US has gone down 0.3% better that expected 0.5%.

Also , Jobless claims are unchanged at prev figure.

Absolutely no effect on Dow fut of these reports , GDP is better but Jobless claim were expected to come down.

Now i hope , i would be able to go to SS sirs hotel to get good food with my ce

 

[S S]

This Restaurant is for all types of Food for Thought, to be served by anyone and everyone entering the Restaurant

The rules are : 1. Only Outside Food allowed to be brought by anyone and everyone, provided it is reasonably fresh.
2. Phokat Ka timepass NOT allowed and is to be objected to by anyone and everyone.

By general understanding and NOT by anybody's order

Cheers!
SS

NB : I had to get my Laptop repaired within 24 hours. Repair cost 600 + Urgency cost 4000 = Total 4.6K.... was worth it, because I had to get it repaired and bring back with me.

 

[S S]

Hi!

Too may thoughts… and probably more encouraging…..

See the daily EOD chart for Dow Jones as of 31st Oct 2008. The Indigo coloured Bollinger Bands [BB] have started contracting, after having come inside the Golden Keltner Bands [KB]

A week ago, the DJ appears to have taken the support from BB and thereafter has climbed up to cross the Red coloured 10 days EMA line. Since then, it has not only been closing above the 10 DEMA line, but the complete candle is also above the 10 DEMA Red line, and the direction of movement for the candles in immediate future, is to touch the top BB.

Whether one likes it or not, the US elections are likely to end up electing the candidate of opposition as of now. A ray of hope for improvement in economy is likely to push the candle even above the top BB.

This is when the BBs shall once again start expanding and may even come out of the KBs.

Meanwhile, on the INR front the Rupees has declined after having reached a rate of above 50 per US $. In the beginning of this calendar year 2008, this rate was around 40-42 per US $ This increase of 8-10 INR per US $ shall go for a 61.80% correction, that is of 5-6 rupees, bringing the rate of around 44-45 INR per US $.

And for this to happen, the current scarcity of US $ in India, is required to be ended due to some smooth inflow of US $, which shall primarily be for the Indian stock markets

See the daily EOD chart for Spot Nifty as of 31st Oct 08. Here we see a different picture. The BBs are yet in the expanded position outside the yellow KBs and the 10 DEMA Red line has just been touched during the last trading session.

As the inflow of foreign exchange starts that the INR shall start slowly appreciating and simultaneously, this shall take the daily candles up above the 10 DEMA line. This is when, first the BBs shall start contracting to come inside the KBs. Then the movement of BBs, for sometime could be expected almost horizontal, when the candles shall be slowly moving upwards (in waves).

This is when the next direction of the market could be seen. If the US markets are still doing well, then Nifty’s daily candle shall also move upwards, taking the BBs along with it, and BBs shall then need to cross the KBs and start expanding once again.

This scenario is expected during Nov-Dec 2008.

All my opinion, and I could be wrong. Genuine comments invited.
For jokes, kindly turn to Chit-chat thread PLEASE.

Cheers!
SS

 

[S S]

So, for the Dow Jones, the horizontal phase for BBs and KBs continues, while the DJ itself being halfway between the 10 DEMA and top BB.

The Rupee appears to be strengthening as anticipated and has come below 48 per US $.

And Nifty’s upward ride continues, but it would take some time for the BBs to contract and get inside the KBs, and the daily EOD candle goes near the top BB.

But in all probabilities, it appears that the results of US Presidential election shall take almost all the world markets up, irrespective of the fact… who wins.

The institutional investors all over the world, who are currently staying up with a tight belt, shall loosen it to allow the flow of money in the markets the world over. And suddenly the world markets shall be flooded with the US $, which was so far getting strong, and hereafter may start becoming weak for some time.

In short, the strengthening of the Rupee shall coincide with weakening of US $ and also with the would markets getting firm.

My opinions and I could be wrong.
Cheers!

 

[S S]

Elliot Wave Analysis is a tough one. For anyone and everyone. While we do have the Reverse Swing in recent cricket matches, EWA has been doing it for years. One never knows, when either the middle stump is lost, or there is a strong appeal for LBW.

Something similar has happened. And the result for the appeal is awaited.

In one of the earlier messages, that I had said that the retracement shall reach the level of iv which is around 4300 for Nifty.

On 5th Nov 08, Nifty almost touched the level of (iv) and turned downwards.

Result of the appeal shall decide if Nifty shall go to 4300 and then turn downwards.

People sure are stingy. Especially those who are holding the belt tight, and not letting the money flow out This confirms the Bear-Bull conversion described by me under Inverted Investor in this thread. * [link given below]

Few things to note are

A double bottom on daily EOD Spot Nifty on last two sessions of the week, indicating an up turn for the week to commence.

Bollinger Bands have almost come in line with the Keltner Bands. If the double bottom works fine, at the end of the first session next week, that the BBs shall be inside the KBs.

And with the pending lbw appeal, the 10 days EMA Red line also is passing midway through the candle for Friday, and on Monday, one expects to have the candle above this line.

In all probabilities, I feel that the danger line at 3250 shall have a meeting with the BBs an KBs and also 10 DEMA during the early part of next week.

One caution though. There is every chance for the markets to suddenly turn negative, and to once again touch the recent bottom. A possibilitylets wait and watch.

My opinions and I could be wrong

Cheers!
SS

* http://www.traderji.com/derivatives/23534-food-thought-post214290.html#post214290

 

[coolboy007]

Hello SS sir ,

Sir did you mean to say we almost touched 3300 on nifty , you hav mentioned 4300 which is very distant for now.
Am i reading something wrong or is that a numerical mistake.
3250 levels invited huge selling. Am holding on to some hedged Pe , atleast your last 2 lines are encouraging for me

Thats a very good food. Plz clarify above doubt.
Thanks.

 

[S S]

I was expecting the target for the recovery to 'iv' in the chart attached to above message. I have drawn the two horizontal lines at 'iv' an '(iv)'

'(iv) is around 3250 and with the double bottom, this should get passed with or without problem. But then.... like I said, if for some reason, a negative reaction occures, then the recent bottom below 2300 may get re-tested.

This is NOT going to happpen tomorrow... so staying long/short cannot be commented upon.

Probability of going above 3250 appears to be higher, but I could be wrong. I would not like to advice anything about being long/short in either Puts or Calls

The long term view has been to my help during the bear market. I knew that even if market recovers, I was NOT worried about shorts in futures, because I was sure to add more at approprate times.

But with the turning of the markets, I would restrain from commenting, unless the turning is confirmed. As of now, with the posibility of markets turning downwards [however less may be this ossibility] even the temperory end of bear market is NOT confirmed.

And with the large swings that we get everyday, it would be appropriate for using them to make money each day, rather than expecting a high returns and carrying forward the open trade....

My view and I could be wrong.
I prefer accepting that I could be wrong, than giving others a chance to say I am/was wrong.
Cheers!