Tuesday, August 11, 2009

The Secret

While the US and other markets remained steady to up for the day, the Nifty took a big hit. It traded below 4420 and currently is on the verge of becoming a sell on rallies market. (As always the usual disclaimers apply. This a statement of belief and based on my non-understanding of the markets).
Among the stocks that we track, ICICI Bank hit its stoploss at 720. RIL can hit its stop at 1870 and Infosys becomes a sell if it breaks below 2020. Stop is 2120 and the target is 1720.
The commodity markets have started showing a waning momentum. Are we headed for a break in this rally?. For eg in the commodities, I am short lead, gold and natural gas and about to short crude. Copper, Nickel, Zinc and Silver I am still long but look like I could be headed for trouble there. The record breaking rally could head for a breather. We in India could be headed towards 4000 on the Nifty. Currently I am faced with a lack of clarity on what should one do as a trader.
Faced with this doubt what can one do? Then the solution hit me. I have read this book called "The Secret" some time back. It was a major rage worldwide (or so the advertising campaign told me). Well, the book talks about how affirmations help. So why not use some affirmations for the market."The Nifty should hit 4000 (so that my short term objective is met) and then hit 7400 within one year"( so that my long term call is met). Did I hear somebody say that this is crazy?. But the book never told me that any of my requirements needs to be rational. So why bother?. Why not go for broke?. While I am at it I might as well ask for all the happiness in the world and a 7 figure income and great health and ..... and..... and....

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