Thursday, June 26, 2008

Go with the Trend

Just to cheer you up:
from www.marketwatch.com
Stocks in Europe ended Thursday at their worst closing levels in over two-and-a-half years.
Dow Industrials at nearly two year intra day low.
In India, if the Nifty were to reach its lowest level of the last two and a half years, it would be trading at 3000 (Today's close: 4315). This tells us that Indian markets continue to outperform, and, if our market does decide to follow its European and American counterparts, there is a lot of room to move down.
Traders should ignore these warnings of doom and gloom. they should go with the flow of the market. In simpler language, go with the trend. The trend is firmly down for now, so either go short or stay away.
This is my third blog entry for the evening. two more are :
Brokerage Stocks are out of fashion
Bear market rallies; What did you Sell today ?
Just scroll down to read these entries.