Hectic 2 day Holiday

 Yesterday, US consumer spending numbers showed an improvement. (It is another matter where they find the money to spend and yet another altogether that we should be worried that they are drifting back to their spendthrift ways) The market, being focused on the short term, gave those numbers a resounding yes and rallied sharply. Asia has rallied on the back of the smart US rally. Singapore Nifty is up too and it is all but certain that my short positions will get cut today. I have been short till now and will cut my short positions if Nifty futures trades above 4974. (since Singapore Nifty is already at 5010, I guess my short positions will get triggered much higher than the 4974 that I have been talking about)

I will in all probability, therefore be heading for the 2 day market holiday with zero positions. That is a great situation to be in---to be able to take the 2 day holiday without a worry about the market moving completely against ones position. I have a long list of things already planned for these two days. One is to sleep for at least 2 hours both the afternoons. Two is to gorge on the terrific sweets that my mother makes on the Ganesh Chaturthi holiday. Three is to watch at least two movies. I have already planned to watch 127 Hours. The other I am yet to decide. With such a long list of things to do, I am glad that we have just one working day on Friday before the weekend kicks in!

As I write this note, I see that the Nifty has gapped up and since then has traded a bit lower. This gives me an interesting level to cut my short positions. I will cut my short positions now if Nifty trades above 5000. BTW, if any of you have some suggestions for a good movie to watch at home, please do reply to this.