Home > Market View > Were you caught on the wrong foot?

Were you caught on the wrong foot?

Thursday, August 9, 2007 Leave a comment Go to comments

Today was one of those days when volatility was just too high 130 to 140 point volatility in NIFTY is not usual. It caught me on the wrong foot as yesterday’s long position had to be cut. The position was a little aggressive(only in entry) and did not work out as planned. No financial damage though as I am trading very light.Thats why short term trading is so difficult. You are cheerful in the morning, a little circumspect by the afternoon,sad by the evening and if you don’t cut your losses you have a restless night as well!

So why did markets fall suddenly- Looks like the subprime problems are now haunting banks in Europe. BNP Paribas,France’s largest bank has frozen some $2.2 billion of funds. Read this.

Whatever be the reasons, one good attempt by the bulls have been foiled the bears!

Will bulls make another attempt or will bears just overpower the bulls? Lets watch out. A better thing during such volatile times might be to take a vacation and not look at markets!

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