The Tendulkar Masterclass

Firstly this note was written by me on Friday but somehow did not get posted on the same day. So you are seeing it as published on Saturday.

The market made me eat my words!!!. I had thought that the S&P is set up for a further fall and instead we saw a sharp rally yesterday. I had talked about the penchant for statistics in the US. Some more came out of the woodwork yesterday. No point discussing which one because there are so many. Apparently the market thought that they were positive and decided to go up. At other times in the past, despite the numbers beating market expectations, the S&P has gone down. But this time thankfully one can attach a causal relationship between the numbers beating market expectations and the S&P going up.

For those interested in the details of the S&P rally, almost all sectors ended in the positive. The largest gains were in Financials, Industrials and Materials. All up 2.5%. Please do not ask me what is Industrials and Materials. I do not know. All I am doing is copying this data from somewhere.

The Dollar Index has turned down again. Commodities and equities can therefore do their thing all over again.

Yesterday, I cut my short positions and went long at 4750. On hindsight one wishes that one had cut the short positions earlier but unfortunately I am born without that gift. And you know what? The only people I know who have this gift of hindsight seem to be those who are---by some incredible coincidence--- not traders.

I am the first to admit that I am not a great Tendulkar fan. But it will be criminal if I write this note and not mention yesterday's innings by Tendulkar. One of his truly special knocks. Made my evening. How can a person play cricket for more than 20 years and still retain such a great passion for the game. Truly unbelievable. I guess I am privileged to have watched Tendulkar from his first test innings-----to have lived in the times of Tendulkar.