There is likely to be a massive rally tomorrow, maybe a thousand points on the Sensex and 350-400 point on the Nifty because of \\`global cues\\`. (The Dow has rallied 331 point because of oil price falling and, you wouldn\\`t believe it, because Fed has kept the rates untouched!)
The American markets are behaving like our markets were during late 2007. Any small good news or even non-news sends them up massively while negatives are disregarded. Our market is also acting the same way for a couple of weeks now. I do not know if this rally can be sustained, given that the fundamentals have not changed significantly except for crude coming down to 118 dollars a barrel. How long it will remain low is anybody\\`s guess. Me, I am selling off the remaining third I still hold and will get into cash completely. Healthy growth is good but this type of too much growth in too short a time does not look good to me. We can come down as fast and as heavily as we went up. When and how much is for the market manipulators to decide. Iam certainly not going to buy in this rally and I really do not know who is buying - certainly not the retail investors like me who have mostly learned our lessons. |
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