Saturday, November 13, 2010

Shame is in "Not doing anything about it"..

For decades, Jay Thiessens hid a painful secret as he built his machine and tool company from a mom-and-pop operation into a $5 million-a-year enterprise. During the day he hid behind the role of a harried businessman, too busy to review contracts or shuffle through mail. At night, his wife, Bonnie, would help him sort through the paperwork at the kitchen table, in the living room, or sometimes sitting up in bed.

Other tasks he delegated to a core group of managers at B&J Machine Tool Co. who had no idea their boss couldn't read.

"I worked for him for seven years and I had no clue," said Jack Sala, now the engineering manager for Truckee Precision, a B&J competitor. "I was his general manager. He would bring legal stuff to me and say, 'You're better at legalese than me.' I never knew I was the only one reading them."

Few people knew of his shame and most burning desire: To be able to read a simple bedtime story to his grandchildren. But he couldn't keep his illiteracy secret forever. "It became too hard to continue to hide it," said Thiessens, who has begun to read at the age of 56. "Since I made the decision to let everybody know, it's a big relief."

Friday, November 12, 2010

Nifty's weekly TA gets a jolt with a bearish engulf at the top..

Nifty ended the day at the lowest point with highly "Oversold" hour TA..but that can remain so for longer than "normal" situations.
The Ones who changed his "colour/ Uniforms" at the appropriate time as shown by the Tech.table would sail with the trend.
Never trade a trending day...hold.
Bears have taken the initiative with VIX indicating a reversal possibility. However, follow up selling alone can damage the larger trend.
At such junctures(Trend reversing possibilities), staying with your chosen system will reward you well.
Falls are always swift especially with so much "added heavy weights" and "higher targets flying all around"..
Study 10 to 15 heavy weights and wait patiently for "good divergent set ups" to emerge. Till then Sell on rallies. The earlier supports will act as resistances now.


Nifty Intraday Update-III

For safety to attempt any "intra longs", a confirmation of a close above "HLEma" is required..And that is still not a guarantee but a guideline..

Nifty Intraday Update-II

There is NO Divergences in Hour T/F...only Oversold status..

Nifty Intraday Update-I



"6150" support(S1) for a relief rally. No +ve div is visible in Hour T/F yet. When 6150 breaks next after this bounce, 50sma may be the likely target..

Nifty PreMarket View.

Wednesday, November 10, 2010

Nifty Closes below DHEma triggering a "Sell on rise".



Nifty Intraday Update-III


Nifty Intraday Update-II



Nifty Intraday Update-I


Nifty PreMarket View.

Till 6200 is not broken, it is a trader's market and the range being 6245 to 6335.
There is a channel break coming @ 6285-6290 and 6275(Hour JNSAR for 1st hour)
There is VAL @ 6309NF for weakness and VAH @ 6337NF for strength.
"ORB" too would help.
Break below 6285 would weaken the bullish possibilities.
Tech.table would reflect the strength & weaknesses.

Tuesday, November 9, 2010

Nifty finds support @ WHEma.

Weekly pivot(6245) & WHEma(6243) have given the supports now.(Yesterday it was DHEma)
Nifty has closed above today's Pivot of 6285.
A redrawn channel has captured day's movements well. The corrective channel of last 3 days is likely to be broken on the upside, holding above 6285.
Once again, the "Premarket Trading levels" played out well. Till a "reversal" is not signalled by the "Tech.table", the "OB" Hour TA got corrected with 2 days of intra movements.
I appreciate "that reader"s" presence of mind who pointed out the WHEma having offered the support during "Intraday action".
"Well prepared is half the battle won".


Nifty Intraday Update-III



Nifty Intraday Update-II



Nifty Intraday Update-I

ORB: Buy;
EW: "ivth" may have ended at day's low as per channel break & "v'th started.
TA: HLEma given support. Trading above all Emas.(Closed above HHEma after many hours)
SUM: At the end of this "v"th, SELL.