Theory of Relativity Explained

I had read a statement apparently attributed to Einstein. Put your hand on a hot stove for a minute and it seems like an hour. Sit with a pretty girl for an hour, and it feels like a minute. That's Relativity. I had a personal experience of relativity yesterday. No I did not sit with a pretty girl in the office! I was short in the markets and yesterday time flew. That's Relativity. For a US trader who was long the markets, yesterday must have seemed like a week and for a trader who was short, yesterday must have passed much too quickly. That's Relativity.

But jokes apart, the last 3 days have been much better in terms of market movement than the previous 4 months of this financial year. The real problem for the markets is of course the sovereign debt issue and hopefully the govts will get together to stitch another rescue. Leverage has been the big culprit and until that is reduced worldwide, we will continue to lurch from one crisis to another. Paper currencies are all on a downward spiral relative to Gold. But yesterday, during the selloff, even Gold and Silver took a beating. To me, this looks like the selling has now reached the indiscriminate-get me out of everything-phase. Hopefully we see an end to it soon.

Given that I am short the Nifty, the above statement -hopefully we will see an end to it soon- reflects the kind of person I am! Can you imagine the amount of effort that is required to write that line?                                    I continue to remain short. STT and LTT. Will not cut the positions today.