Greece Bailout?

I went home with my long position across the long weekend despite the fear of a big gap down eroding a lot of my gains. Luckily, the way Singapore Nifty is trading, that fear seems unfounded. We should open around the same levels as we closed on Friday. I will therefore stick to my original plans and sell my long position and go short only if Nifty falls below 5500.

However, given the fact that there are reports that the Greek deal has gone through, this level need not be hit today. BTW, it is brilliant that the deal has gone through. This way, while Greece can continue to burn and flounder, the German banks can hope to get their money back in March when one tranche of Greek bonds mature....clearly a positive for the markets. Whatever happens to economies and the people, the banks and the bankers need to be paid and that clearly is a very important thing. If banks do not get paid even if they make bad business decisions then how else will free markets ever work? So this bailout, at great cost to the savers and the taxpayers, has come at just about the perfect time for the Indian market viz just before the open.

Despite all this bailout news, if my sell trigger below 5500 is hit then I will cut my long position and go short. Until then, I remain long and happy.