Thursday, November 12, 2009
MooseWoose
Back and forth. The moose has gone from ILF to CASH to ILF over the past few weeks. I'm still 50% ILF on the MooseCall. Today's close looks like support has been hit on a short term basis (the 10 minute chart). The weekly SPX chart says we're above the no trade zone and now in a bull market. ILF weekly chart show we've been in a bull market for 16 weeks but is starting to develop some bearish divergence. I'll be watching the short term charts very close. WE COULD SEE A 20% MOVE IN EITHER DIRECTION AT THIS TIME. FOCUS ON THE SHORT TERM TRADES FOR NOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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MARKET TODAY
Key benchmark indices are expected to open flat to positive on mixed global cues. The Nifty futures traded as SGX CNX Nifty Index Futures in Singapore were up 16 points to 5089. Volatility may continue as traders shuffle their positions ahead of Thursday's expiry of November series derivatives contracts. However, weakness in the Chinese markets, and uninspiring economic data from the U.S may weigh on sentiment.
According to data released by the NSE, in the last session, FIIs were sellers of index futures to the tune of Rs 250.25 crore and bought index options worth Rs 103.74 crore. They were net buyers of stock futures to the tune of Rs 78.10 crore while sold stock options worth Rs 116.45 crore
More details http://www.16anna.com
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Key benchmark indices are expected to open flat to positive on mixed global cues. The Nifty futures traded as SGX CNX Nifty Index Futures in Singapore were up 16 points to 5089. Volatility may continue as traders shuffle their positions ahead of Thursday's expiry of November series derivatives contracts. However, weakness in the Chinese markets, and uninspiring economic data from the U.S may weigh on sentiment.
According to data released by the NSE, in the last session, FIIs were sellers of index futures to the tune of Rs 250.25 crore and bought index options worth Rs 103.74 crore. They were net buyers of stock futures to the tune of Rs 78.10 crore while sold stock options worth Rs 116.45 crore
More details http://www.16anna.com
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