The Party Goes On

I was going through my earlier Market Musings and realised what I was missing for the last couple of weeks. Those notes were so good and they felt so good to write!!! I think I need to revisit them and go back to capturing the mood of those notes.

I have a feeling that since I started doing the TABLE, the notes have become more and more difficult to write. It is almost as if the moment I started getting serious and started looking the world markets through the filter of my system, I have been unable to write my Market Musings.

But first about the world markets. Almost all asset classes are short currently as per MyTS. The Dollar Index is in an uptrend. This is the absolute opposite of what we were faced with in the second half of last calendar year when all asset classes were in an uptrend and the Dollar Index in a downtrend.

Remember the parties that we had when we were in college? After a few rounds of drinks people would be feeling really good. Invariably the drinks would run out but none would want such a great party to end. Some smart guy would know of a place where drinks could be found even during the late night hours and somehow the party would continue. This need to continue a party which should have logically ended would invariably result in excesses which stopped only when a few student's stomach refused to accept more alcohol.

But then those were the good old days because the worst that could happen even with lot of excesses would be a splitting hangover the next day. It is scary to imagine what happens when Govts across the world refuse to let parties end and run to get some more alcohol in the early hours of the morning. It would be great if the worst that can happen when these parties end is a splitting hangover.

Not a great way to restart Market Musings I am sure. I am still short the Nifty from 5174 levels and the stop and reverse levels for this short position is 5207 now.