7 replies to this topic

[A-ha]

next bombay balloon ...

Edited by xD&Cox, 27 February 2007 - 07:55 AM.

[Tor]

totally awesome call Xd. You may have a different view, but looking at the P/C ratio, I think we may see one more run up higher before a proper top gets put in. This would take us to early March (around my birthday as an aside) to top out finally IT basis. Just a scenario I am looking at. Would be interested to hear your thoughts. All the best.

Edited by Tor, 27 February 2007 - 08:27 AM.

[OEXCHAOS]

Greenie got me beared up on Bombay. What's the best instrument to short for that market? I need some liquidity if I'm to play. Mark

[A-ha]

Greenie got me beared up on Bombay. What's the best instrument to short for that market? I need some liquidity if I'm to play.

Mark

There is this India Fund (IFN) but it is not a tracking ETF. However, it looks worse than $BSE if you ask me. Its chart reminds me NFI, flirting with horizontal 50 and 200 dmas with ugly tape, that is, sharp sell offs followed by slow, shallow rallies.

Also I remember greenie mentioned a bunch of India stocks trading in US. One of them I follow is INFY.

[greenie]

Here are some Indian stocks traded as ADR in NYSE - TTM, INFY, SAY, SIFY, IBN, REDF, RDY, HDB, WIT, MTE, VSL. Many of them are components of BSE. Find the weakest or one with most downward potential and short. Two closed end funds IIF and IFN do not track anything. I just came back from India. It was a good trip. Got my mom out of all but one of the 'investments' at the BSE top price (thanks to xD). The guy who sold them to her thought I was crazy. Why would one miss out another 50% gain?? The remaining one has a locking period of 6 months - by then it will be half its purchase price. She was told she is very unlikely to lose money on these investments. I learned a lot about why ordinary people buy at the top. It is because of the way the marketing is done by the equity investment industry. To have their stories believable, they need to be able to say two things - (i) "You are going to make 70% gain in a year. Look at past history." (ii) "These investments do not lose money. If they fall, they always come back." After the sharp drop in May in BSE, Nov - Dec was the time, when the brokers could confidently make such claims. My mom bought two investments - on May 1st and Dec 1st. Amazing !! Found a new ETF - INP. I think it closely tracks BSE, but don't know about its own liquidity. Just wanted to make one more comment - before coming back, I went to see the latest hit Hindi movie. When I grew up, those movies were about college romances, or good (poor) guy fighting bad (rich) guy. Guess what this one is about? A guy who made money in stock markets and then started a PUBLIC company. I put stress on the word public, because it was an important theme of the movie - how ordinary people can be part owner of a company and share its success.

[Mr Dev]

World markets as of 6am pst

Edited by Mr Dev, 27 February 2007 - 09:18 AM.

[A-ha]

Turkey (istanbul stock exchange) is currently down %5+, i watch it closely as i have investments there

Edited by xD&Cox, 27 February 2007 - 09:26 AM.

[dcengr]

Didn't I say some time ago "Don't be surprised if SSEC dropped 10% in one day"?