Friday, May 7, 2010

MELTDOWN

Just last month we were looking at NOISE of 5600 plus targets ..now we are at 5000...typical of market jerks..so whats happening..Its a routine correction of the rise from 4667-5400..4950 zone is 200 DMA or 61.8 % retracement of this rise..break of which , we can then drift to 4900 around (THE BUDGET DAY TAKEOFF)..on panic days one can start part investment for short term into select shares one likes..Next Week could be a different story..My advise here of being a trader for a few days would have helped..Watch 5000 for support today..cheers.