Only Google can get away with it. Notice the slider (circled here)
Phew !!!!
Monday, June 30, 2008
Technical Analysis
Was reading Graham's "The Intellingent Investor". According to him, its is difficult to benefit from trend following. A number of people I know, deride technical analysis. However, I believe that patterns should be looked at in a way you would look at statistical models.
And therefore like these models, technical pattens represent statistical realities and like all statistical models, would give you predict correctly only a certain percentage of times. As long as this is above 50 percent it has some value. Need is to be persistent with your apporach and to select patterns where predictive success percentage is substantially greater than 50 percent.
Anyways, market held above the 4015 support today. Fundamentally the markets look prime for entry. However, the momentum may take the market down further in the near term.
And therefore like these models, technical pattens represent statistical realities and like all statistical models, would give you predict correctly only a certain percentage of times. As long as this is above 50 percent it has some value. Need is to be persistent with your apporach and to select patterns where predictive success percentage is substantially greater than 50 percent.
Anyways, market held above the 4015 support today. Fundamentally the markets look prime for entry. However, the momentum may take the market down further in the near term.
Saturday, June 28, 2008
Technical Support NIFTY
The next support for NIFTY is at 4015 levels. If that does not hold then the market can go down a further 5-6%. However, clearly these are attreactive levels to initiate long term long positions.
June 28, 2008
June 28, 2008
Friday, June 06, 2008
Financial Analysts and Consultants
Can never forget the following comments by a consultant:
Q. What does he tell a client who desperately wants to buy into the market?
A. "Buy half of your desired position now"
Q. What does he tell a client who is losing money in his position and wants to sell?
A. "Sell half your position now"
Now just imagine what would he tell his clients if the market moved up and what would he tell them if the market moved down.
Q. What does he tell a client who desperately wants to buy into the market?
A. "Buy half of your desired position now"
Q. What does he tell a client who is losing money in his position and wants to sell?
A. "Sell half your position now"
Now just imagine what would he tell his clients if the market moved up and what would he tell them if the market moved down.
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