Staying Power

As I write this note, Asia is up. S&P ended higher by another 1% and it is natural to assume that India should open up too. You know how Gordon Gekko says to young Bud Fox in the movie Wall Street "You had what it took to get into my office. The real question is whether got what it takes to stay there". In our case too we know the Indian markets can open up. The real question is whether it has got what it takes to stay there! We are currently short on the Nifty and have a stop now at 5193.

Yesterday, two assets changed their trends. Gold and Crude turned from SELLs to BUYs. Dollar remains a BUY. Other equity indices and commodities remain SELLs.

In the last couple of weeks there were a few things I missed writing about. Nothing more important than the 16th Grand Slam win of Federer. It boggles the mind when one realises that any player will need to be at the top of his game for 8 years at least to beat this record (assuming he wins 2 out of the 4 grand slams on an average every year).