Market on 15/12/2008

• Market opened with a gap of 40 points on Nifty taking cues from SGX NIFTY.
• Resilience of the market on Friday after US auto bailout news. These actions are bound to be resolved or reversed but the beauty of the market mistress to take out the chips from weak hands is once again demonstrated.
• Harmony of Commodity, currency movements has given strength to market bullish bias
• Nifty 3000 is a psychological level has reached and sold off keeping large number of intraday participants on the wrong side.
• I think diversification in trading time frame is needed
• As Victor Niederhoffer says in daily speculations the market will block the only escape route you have.
• Traded NIFTY, LT
• It is frustating to see unprofessional behavior in brokers trading rooms . This adds to individual traders losses.
• Uncalled for vague comments affect the traders' psychology
• Very good post in Dailyspeculations on How not to run a trading Operation.

Market Intution

Watching how markets work is fascinating. As Victor observes " The speculator hastens the price to its inevitable level ".

1. Bear Stearns : Market's Intution about impending revision in buying price of $2/ share proved right.However perplexing market's moves collective intution reflected in the market price reigns supreme.

2. Lobogala in Orchid Chem : Orchid Chem lost 50% in 3 days from Rs 240 to Rs 110 due to Bear Stearns collapse and hedge funds sale of stake. "Lobogola Move " according to Daily Spec is witnessed in the next one week as it retraced its path to Rs 240. Fascinating to watch second level movements in the market.