The Champions League T20 cricket series started yesterday and I am happy to announce that I did not waste a single minute watching the games. I just wasted the entire time doing nothing! Which makes me wonder. How do I spend 3 hours that I get in the evening after I come home from work? I cannot think any single worthwhile activity that I do in those three hours. Not one day in the week have I done anything worthwhile in that time. If only I could spend that time in full awareness and therefore fruitfully. (I liked the way I put this. It sends out a subliminal message that I do a lot of worthwhile things at work in the office!)

This awareness seems to be lacking in the European officials too. They continue to dilly dally while the Greece problem is back to the fore. Italy has been downgraded as per expectation. The volatility in the market will therefore continue for some more time as the market moves between hope and fear. My problem with this that none of the assets are currently displaying any clear trend-specially in the last couple of weeks.

I have no positions on the Nifty currently. I will go short if Nifty futures trades below the low of yesterday ie 5016. I will not go long today.