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Just Shoot Me

Bala, 28, Gordon Gekko in the making, pseudo-intellectual, cynic, bibliophile, obsessive compulsive ranter...

Apcalypse Now?

November 01, 2006

(Warning : a slightly incomprehensible post. dont bother reading it)

I had vowed not to blog till 2007, but the need to rant on the 13000-sensex is overpowering. Frigging people are now discounting FY08 earnings to justify stock market levels. Us, Bears who have been mauled (sliced, diced and deep fried) for the past four months are now wringing our claws (paws?) in desperation. The market for the past couple of months has become utterly predictable - climb 5% pull back 2% repeat cycle. One observes whenever such patterns become so obvious, something huge is in the waiting . The May crash followed such an obvious pattern (where the market rose by 0.5-.75% daily for 9 continuous trading sessions before crashing 20%) and i read similar ominous signs in the market. There is another curious tidbit - Nifty December series 3500,3600,3700 puts are seeing heavy trading volumes. Someone is obviously hedging heavily against the coming storm. Time to batten the hatches?
posted by Bala, 4:24 PM

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