Poker and trading

What a great way to start the day. To be long overnight and then to get up in the morning and see that the S&P has closed positive after being negative for most part of the session. There are other great ways to start the day but I do not know why I get this feeling that this is not the place to talk about them :)

I have talked about trends in my previous notes. They have not changed. The Dollar Index is on the verge of breaking below crucial supports and the CRY Index is trended up. Equities of course have had a spectacular rally. I have also mentioned about the S&P Reverse Head and Shoulder whose target is close to 1200. All this makes me bullish for the medium to long term in

equities.

Coming to Nifty, I am long and will continue to be long until 4385 is broken. If that happens then I would take the short term trend to be down. Until then I might use dips to buy more.

As if trading was not enough, I have developed a new interest. I have started learning the Texas hold'em poker. Ofcourse now I play online and that too not with real money. People who know about this have warned me that I have found a new way to gamble away money. Despite all this I intend to continue my study. I had read some "Market Wizard" say that all his traders need to be good at poker. He believed that being good at poker helped traders improve trading skills. Not that I need to get any better than I already am!!!. But like any supreme athlete who is at the peak of his powers, I continue to strive to improve!!!.(If you believe this, you will believe anything).