Monday, 1 December 2008

All (?) in one go.

Well, I didn't expect the market to almost hit my targets in one day, but incredible happens regularly and credibly with increasing frequency.

Three things to point out -
1. I believe that we will see 800 this week.
2. That should be used as entry level (to be fine-tuned).
3. Saying that, there is a distant possibility that either this was the whole correction to the rally off the lows or is the beginning to the move down that will carry to new lows (the latter is the least likely case).

Because of this uncertainty (greater than usual, even in the last few weeks), I closed 75% of my shorts. I will look at the quality of the bounce over the next 24 hours, and might re-instate them.


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