Author Archive

• Market has found support (for now)
  Posted by vinaydh on February 16th, 2010 at 1:53 am, Comments: 0

  Market found support last week. The SPX 1060 level has held for now. For me the clue to cover shorts was when BIDU gapped up and continued rallying after the earnings. If a momentum stock like BIDU gaps up +$40 and keeps going higher, that’s not a sign of a weak market.
  The levels to watch [...]

• Can the hammer save the market?
  Posted by vinaydh on February 7th, 2010 at 9:10 pm, Comments: 0

  It seems many are focussed on the hammer painted on the major market index charts last Friday. Technically it has bullish implications, more so since $SPX bounced after touching the 200ema.
  My thinking is that hammer or no hammer this market is headed down. I think at best it will give a reprieve for a few [...]

• Short rallies
  Posted by vinaydh on February 1st, 2010 at 10:34 pm, Comments: 0

  This is not the market to be in love with the long side or catch falling knives. The leading stocks have started falling apart. GOOG has been weak for weeks now. AAPL, AMZN too have started sliding in right earnest. I think it’s way too early to talk of a bottom in the market.
  I am amused [...]

• The writing is on the wall
  Posted by vinaydh on January 25th, 2010 at 10:57 pm, Comments: 0

  Market has a different feel to it these days. The pullback is still not deeper than some of the other pullbacks but still the quickness of this move is a first since this uptrend started. That in itself is a big red flag for this rally. I think the odds of this turning into a [...]

• Caution is warranted now
  Posted by vinaydh on January 21st, 2010 at 10:44 pm, Comments: 0

  I was worried that all those looking for 1160+ may get trapped and my worst fear has come to fruition. I have gone bearish thrice since the March’ 09 bottom and was forced to retract back in a week or two. Every time it felt different to me but it eventually turned out to be a [...]

• Market wants you to take a stand
  Posted by vinaydh on January 20th, 2010 at 10:44 pm, Comments: 0

  In this market the choice is very clear. If one takes a stand one can at worst loose money but if one doesn’t take a stand one would loose money as well as sanity. It’s better to stick to one’s bias rather than jump around with every market antic. The most a bull or a [...]

• No change in bias
  Posted by vinaydh on January 18th, 2010 at 8:34 pm, Comments: 0

  I still think that this market will see 1160+ before we see a 5+% correction. But there is also a possibility that the market might trap all those who are thinking the same way. Next two weeks will be dictated by the earnings results. If 1160+ coincides with AAPL earnings or tablet event then it would [...]

• Market is on track
  Posted by vinaydh on January 13th, 2010 at 6:56 pm, Comments: 0

  I thought that GOOG news about pulling out of China might derail the rally but it didn’t. It seems most of the sell off in GOOG was already over by the time we ordinary mortals came to know of the news. Market is on track to go over 1160. Earnings season kicks into high gear [...]

• Market is on a roll
  Posted by vinaydh on January 10th, 2010 at 7:31 pm, Comments: 0

  There is nothing to dislike about this market from the long side. This market is on a roll. The next upside objective is 1167. I think we may see a quick profit taking bout after that but that would provide an excellent opportunity to get long again.
  The jobs report on Friday was a little disappointment [...]

• Market on strong footing
  Posted by vinaydh on January 5th, 2010 at 4:12 pm, Comments: 0

  Market has started the new year on a strong footing. Both Nasdaq and S&P made new highs today. The volume too has returned back after the holidays.
  We are entering a tricky period now as it’s pre expiration week as well as earnings season will start in right earnest right after the expiration week. I think [...]