Operatorman

I have other friends in the market other than just Traderman. However, Traderman is the only one who maintains a diary and thus reduces my workload once in a while when I just go ahead and reproduce entire pages of his diary here. I wanted to introduce you to another acquaintance who I will call Operatorman. He generously calls me to give me his views on the Nifty and ask for my levels of buying or selling Nifty. Currently he is very bullish. He tells me that the Nifty will be 5600 by March 2012.

Most often, I am at variance with Operatorman because he is invariably counter-trend in his predictions-specially at inflection points. But today I pray that he is right. Actually, I am surprised that Operatorman and I can even be acquaintances. His style of trading is completely the opposite of mine. He is forever on the phone with his many many friends in the market. Forever discussing what is happening at any point in time. After the market too this continues with more data of who bought and who sold what share. His life is about gathering all this information (actually data because information implies something better than just data but I use information because that is what he likes to call it). Going out for drinks in the evening with him is a terrible experience since 80% of the time he is talking or texting on his trusted blackberry. But there is one thing to be said for this kind of trading. Unlike me, he does not have to worry about how to pass time. Passing of time is inherent to his methodology of trading the market. He probably is up even at 2 in the night watching S&P gyrate. I have been at the receiving end of some texts at 1 or 2 in the night giving details of some S&P move. Clearly he hopes for a 30 hour day so that he can satisfy his craving for information.

Sometimes I think, why does he even bother talking to me. All I can tell him is that I am long and will cut my long position and go short if Nifty futures falls below 5178 today for eg. The conversation always ends with him laughing and saying something opposite to what I have just told him. Even today when I am long and he is bullish, he laughed and then told me not to cut my position even if Nifty falls to 5100. He told me that Nifty is bound to go to 5600. I  just smiled and said that if that happens then I am sure to get on board again even if my short position gets triggered at 5178!