Still Short

I remain short and will cover my short positions and go long above 4840. That is far off and a concern. By the time I cover my short positions a significant portion of my MTM profits would have vanished. But if this is the big one, that is if this is the fall that takes Nifty to 4200-4300 then I cannot afford to miss this one and therefore and willing to give up my MTM profits in order to capture a larger fall. I therefore am short and waiting with bated breath.

I am however not without any help in this endeavor. I am aided by the obvious ineptness of the Indian politicians, the crookedness of the corporates and the complete lack of any proactive and affirmative action by the Govt. I can say more but suffice to say that it is not just the global problems that is afflicting Indian markets. Local problems are exacerbating it too.

I hope that at some time these problems are mitigated and that we see a rally but not before I make some money in these short positions! BTW, if the market continues in this fashion, this could be the first December in ten that ends in the red.