14 replies to this topic

[NAV]

Yesterday's action was pretty scary on the BSE (1400 points orderly drop from top to bottom). Today could be even more scarier...

http://finance.yahoo...ESN&a...&q=l&c=

One of the CNBC-India guest commented "We are going to make new highs everyday going forward. The trade is - buy everday !"

What ?


No i am not calling a top here (although sentiment is ripe). These wild gyrations will continue for sometime making a series of marginal highs. Reminds me of Nasdaq 2000. It's hard to time this. It's a virtual mania. The whole world wants a peice of this action (a piece of this risk ).

Edited by NAV, 18 October 2007 - 10:32 PM.

[dcengr]

So why were you asking me if I was drinking when I said India was forked? Just because I said that before it opened or before it tanked?

[vitaminm]

nifty

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

[NAV]

So why were you asking me if I was drinking when I said India was forked? Just because I said that before it opened or before it tanked?

Here's what you said yesterday

India is dumping. They're infusing it right into the 4 horsemen of the QQQQs.

Watch the sky tomorrow. But make sure there's no bird flying overhead.

Now, Pleeeease..... You were looking at the previous days charts and saying BSE was taking a big dump, when the market had not even opened. You were also impying that the dump will cause the money to move to U.S markets. On both counts you were wrong. You were looking at the stale charts and we had a gap-down in the U.S.

The action that i am showing in the above chart was all post-fact our discussion.

Edited by NAV, 18 October 2007 - 10:43 PM.

[atlasshrugged]

Nav, do you put more credence or weighting into the ES 60 min chart than you do the daily?

[NAV]

Nav,

do you put more credence or weighting into the ES 60 min chart than you do the daily?

No. Order of importance is from higher to lower timeframes i.e from monthly to weekly, daily, 60-min.....5-min. But here the daily momentum is also on a sell. If we don't close 100+ points on DOW tommorow, i will even get a weekly momentum sell. We need a huge rally tommorow to turnaround this market.

Edited by NAV, 18 October 2007 - 10:48 PM.

[dcengr]

Now, Pleeeease..... You were looking at the previous days charts and saying BSE was taking a big dump, when the market had not even opened. You were also impying that the dump will cause the money to move to U.S markets. On both counts you were wrong. You were looking at the stale charts and we had a gap-down in the U.S.

The action that i am showing in the above chart was all post-fact our discussion.

Ah ok, I guess I'm just wrong then. Thanks for clarifying that for me.

[NAV]

Here's the A/D line for the Indian stock market. Looks familiar ??

[dcengr]

Sort of looks like this? How would one use a chart like that to pick a top?

http://stockcharts.com/c-sc/sc?s=$NAAD&p=D&yr=1&mn=0&dy=0&i=p23576082477&a=86312560&r=295.png

[NAV]

dcengr, NSE in India is more broadbased, just like the NYSE in U.S. So it's only fair to compare the NSE A/D line to NYSE A/D line. Nasdaq is a sector.