Archive for April, 2009

  • Shorting is counter-trend now
    Posted by vinaydh on April 30th, 2009 at 9:34 pm, Comments: 0

    I am short at present but still feel that shorting this market is risky now. I had shorted because 880 was a low risk entry to initiate a short. I have a stop at 891 and won’t be surprised if it gets taken out. A close below 850 is required to gain some downside momentum. 
    The very fact that [...]

  • Easy trade is over
    Posted by vinaydh on April 29th, 2009 at 9:40 pm, Comments: 0

    The rally into FOMC was very much expected. The market did go over 880 but closed below it. Now it needs to be seen if it was a head fake or not. We will know tomorrow. I am out of my longs and initiated a short position around 880. I will get stopped out quickly if [...]

  • Everything is fake about this market
    Posted by vinaydh on April 28th, 2009 at 10:01 pm, Comments: 0

    It’s not only rallies that are fake but even sell-offs are fake in this market. At least there is some conviction behind fake rallies unlike sell-offs. I got out of shorts this morning and am long into the FOMC meeting outcome tomorrow. If any sell off has to occur then it should occur no later then day [...]

  • Today may be a bear trap
    Posted by vinaydh on April 28th, 2009 at 6:47 am, Comments: 0

    I will cover shorts at the open. I am already out of /ES at 843. I don’t think that the market will just crash before the FOMC decision tomorrow. Even though there is not much to give decision on, they can pull out another rabbit out of their hats just like the last time. They [...]

  • Rally needs a breather
    Posted by vinaydh on April 26th, 2009 at 8:49 pm, Comments: 0

    Even though the market recouped most of the losses from last Monday by the close of the week, it sure looks tired. When stocks like AAPL and GS are in the red on a big day for the market, one has to be a little suspect about the rally. I am short from 865 level. The futures [...]

  • As good as it gets
    Posted by vinaydh on April 22nd, 2009 at 9:20 pm, Comments: 0

    In the last post I was expecting a short term rally into AAPL and AMZN earnings. The market did rally into the AAPL earnings today before selling off. I think today’s rally and subsequent sell off should be enough to create doubt in the minds of bulls and bears alike. Now the market can start its slide in [...]

  • The correction has begun
    Posted by vinaydh on April 20th, 2009 at 8:47 pm, Comments: 0

    The long awaited correction is finally here. I am looking for a minimum pull back to the 770-780 level. I think there is a chance that the market may try to rally one last time soon. The sell off was severe point wise but the four horsemen of tech seemed to be reluctant participants in it. It [...]

  • Time to get out of longs
    Posted by vinaydh on April 19th, 2009 at 7:54 pm, Comments: 0

    Market can rally a little bit more but it’s definitely time to start curtailing longs. I was looking for 880 as the immediate upside objective in the near term. The market came close to that on Friday. The rally seems to be loosing momentum now.
    I think AAPL’s earnings next Wednesday should either put the brakes on this [...]

  • Market is stronger than most think
    Posted by vinaydh on April 15th, 2009 at 7:46 pm, Comments: 0

    I think there is more than an even chance that the market will rally soon. I was planning to take some of the longs off today but then decided against it. I may be tempting my fate here but I will let the positions run for a little more or get stopped out if s&p breaks [...]

  • Time to be on the sidelines
    Posted by vinaydh on April 14th, 2009 at 9:26 pm, Comments: 0

    We have some high profile earnings coming up. I think this market can rally one more time in the next few days. But it’s time to start taking profits on the long side. I am not interested in the short side right now even though the market looks vulnerable after today’s action. In fact if [...]