7 replies to this topic

[NAV]

After spending a decade in the U.S, i decided to move back to India (Bangalore), where i come from originally. My decision to move back was based on pursuing some of my business interests, which i have been planning for a few years now, leveraging the relatively inexpensive labor in India. Trading will continue to fund my business as well as means of putting food on the table. Will return back to the U.S, probably after a few years. I will start posting my trading thoughts here, once i get my get my DSL connection up and running here (in a week or two). It's gonna be fun daytrading the crazily volatile Nifty futures here in India during my daytime and swing trading the S&P during my night time. The last time i commented on the U.S markets was when the SPX was around 1420 and i predicted a move to 1460. The 1460 magnet was promptly tagged. But i never dreamt of the subsequent wild volatility after that !. Couple of observations - This move has been the largest, fastest since the rally begun in 2003. Based on that fact, one could argue that the bull market from 2003 has ended. But this kind on hypervolatility is also a part and parcel of the larger degree trends. Until the monthly trend turns down and the subsequent reaction/retest fails, it's a futile game calling the end of bull markets. As far as the big picture is concerned, i.e the monthly trend, it remains up. As far as VST to ST trading is concerned there's gonna be some hypervolatility to deal with (2-4% swing days), until some base building happens which could easily take another 1-2 weeks based on my indicators. The next dynamic support on the SPX cash comes around 1340-1350 area on the weekly charts which should get tagged during the next 1-2 weeks, before any sustainable rally begins. Until then, i would rather short bounces than catching the proverbial knife. Crash ! - I sincerely doubt it. Look at all the media scare about the end of the world. It requires more than journalistic caliber to properly call the markets ! As for my first impressions of India, i will soon need to coin a new word for the madness here. Some of the real estate properties i had purchased here 3-4 years back have gone up 200-300% in value and some of the land i had purchased have gone up 800-900% (that's right !). I thought there was a real estate bubble in the U.S. If that's a bubble, i don't know what to call that's been happeneing here ! . Been busy trying to liquidate some of those assets. The talk of permanent high plateau in real estate is gaining popularity here. That's about it for now. Will be back posting in about a week or two. Good luck all !

[denleo]

Glad to see you back. I miss your posts. Denleo

[TradeMark]

Best wishes NAV, Hope all goes well there. I will look forward to your posts, as usual. TM

[Tokyo]

Nav nice to know you are back to your country. I miss Japan, too hope all is well with you and your family

[2cents]

Good luck Nav Looks like you've been a wise investor in other places. Keep in touch.

[slatedrake]

Best of luck Nav! Looking forward to hearing from you again!

[OEXCHAOS]

Yeah, we've missed your posts. Good luck with the venture and thanks for the update. Mark

[vitaminm]

After spending a decade in the U.S, i decided to move back to India (Bangalore), where i come from originally. My decision to move back was based on pursuing some of my business interests, which i have been planning for a few years now, leveraging the relatively inexpensive labor in India. Trading will continue to fund my business as well as means of putting food on the table. Will return back to the U.S, probably after a few years. I will start posting my trading thoughts here, once i get my get my DSL connection up and running here (in a week or two). It's gonna be fun daytrading the crazily volatile Nifty futures here in India during my daytime and swing trading the S&P during my night time.

The last time i commented on the U.S markets was when the SPX was around 1420 and i predicted a move to 1460. The 1460 magnet was promptly tagged. But i never dreamt of the subsequent wild volatility after that !. Couple of observations - This move has been the largest, fastest since the rally begun in 2003. Based on that fact, one could argue that the bull market from 2003 has ended. But this kind on hypervolatility is also a part and parcel of the larger degree trends. Until the monthly trend turns down and the subsequent reaction/retest fails, it's a futile game calling the end of bull markets. As far as the big picture is concerned, i.e the monthly trend, it remains up. As far as VST to ST trading is concerned there's gonna be some hypervolatility to deal with (2-4% swing days), until some base building happens which could easily take another 1-2 weeks based on my indicators. The next dynamic support on the SPX cash comes around 1340-1350 area on the weekly charts which should get tagged during the next 1-2 weeks, before any sustainable rally begins. Until then, i would rather short bounces than catching the proverbial knife. Crash ! - I sincerely doubt it. Look at all the media scare about the end of the world. It requires more than journalistic caliber to properly call the markets !

As for my first impressions of India, i will soon need to coin a new word for the madness here. Some of the real estate properties i had purchased here 3-4 years back have gone up 200-300% in value and some of the land i had purchased have gone up 800-900% (that's right !). I thought there was a real estate bubble in the U.S. If that's a bubble, i don't know what to call that's been happeneing here ! . Been busy trying to liquidate some of those assets. The talk of permanent high plateau in real estate is gaining popularity here.

That's about it for now. Will be back posting in about a week or two. Good luck all !

NAV,

Here is a chart link for indian stocks.You may ask them to add US ticker symbols.

http://www.icharts.in/charts.html