It is a pleasure to get up in the morning and have a good workout!!!. Nothing like a good 1 hr cardio workout to get one going. Those who know me will be surprised. Since when did this guy get into workouts?. Well dont be. I just said "it is a pleasure to get up in the morning and have a good workout". I was just stating a fact. I did not say that I worked out!!!. Well all the pleasure I got in the morning today was to get up and see the S&P up almost a percent overnight. Believe me it is a pleasure specially when one is long.

Ok jokes apart, S&P has also crossed above its previous swing high at 930 making me expect a rally to a new high past 956 into the 980s. The CRY Index has not yet turned into a buy. The Dollar Index is drifting lower but is still in a tight range and there is no real momentum on the downside. In the commodities, metals are doing better than crude oil and precious metals.

Well now about Nifty. I am long. But until the Budget day high of 4482 is taken out, I know I am on shaky ground. But that is far away and hence I am long but am worried. The stop for the long position taken at 4135 is at 4099...If that gets taken out then I will cut my long position. Until then I live in hope.