Sunday, January 31, 2010

Global markets weak. Looking for some more downside.

I have been carrying some shorts on Nifty, Silver, Copper & Lead Futures for abt a week now. Initiated a few shorts in crude in Saturday's truncated trading session.

Globally markets have been in a downtrend for a while now and I think there is some more downside left in many of these markets. Hope to see a good dip in the coming days.

I will leave you with one of my favourite quotes from the greatest trader ever..
"There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again."
Jesse Livermore in Reminiscences of a Stock Operator

3 comments:

  1. Hi,

    Am narayanan frm chennai
    The quote was simply superb. Ur suggestion for young traders like me will help immensely. Media leaves confusion to consumers especially in share mkt, making their lives, miserable and panic most of the times...would look for a valuable guidance from you in the times to come, in ur blog..(ofcourse i didnt mean all medium in media:-)

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  2. Hi Narayanan,

    That book is full of great trading wisdom. Even after more than 75 years since first published the book is still the most read investment classic of all time. Highly recommended. Here is a link to an online copy: http://www.trading-naked.com/library/jesse_livermore.pdf

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  3. Hello sir,
    My name is Shobhit porwal from mandsaur(m.p). I m regular visit ur site to analysis the share for long term as well as for short term. By ur site i learn many things. Thanks for making such a nice site.

    ReplyDelete