A Note of Optimism

The holiday in the US provided no respite to the markets as the European debt crisis reared its ugly head. The moment the Italian and Spanish bond spreads over German bonds widen, the markets go into a tailspin, worrying about the future of the Euro. The election losses for Merkel in the latest regional polls also added to the fears of lack of support for further bail-outs in the European region, thus amplifying the fall.

In these times of doom and gloom there is hope. No I am not referring to the fact that Indian GDP will grow by at least 7% (this is stated with such confidence by most people that I will take it as the gospel truth. Their faith in this statement is so strong that questioning it is akin to questioning somebody's religious beliefs). Neither am I talking about the fact that the monsoons have been decent through the country and could lead to good agricultural growth and consequent strong rural consumption demand. Nor am I referring to the fact that the beleaguered Indian Govt is bound to make one last attempt at asserting its reformist and progressive credentials to stem the damage to its image

I am referring to the fact that Dhoni is still the captain of India, the selectors still retain their jobs and Bodyguard is a huge hit. I mean if Dhoni can retain his job after showing himself to be completely bereft of any ideas, the selectors retain theirs after selecting unfit players for such important tours and Bodyguard becomes a hit despite lacking in every department of film making then there is hope, isn't there? The markets can even go up. I have just proved that miracles do happen in this country of miracle men.

In this optimistic note, I leave you my dear readers but not before reminding you of your date with me at the same time tomorrow morning for more of this tripe. And yes I am short on the Nifty and will cut my short positions and go flat only if Nifty futures trades above 5045.