Posted by:  Kalidas on ( 25-Apr-08 21:42 ) | | | Price : BSE: Rs 916.15 ( 4.54 % ), NSE: Rs. 915.65 ( 4.19 % ) | Reply to sdmital on (22-Apr-08 22:21 )
It looks like you are reading my posts intermittently. I am not a technical player at all. Technical players are those who rely on historical charts to predict the futures. They are backward looking to look at the future.
I rely only on present events and its fundamentals to foresee the future, and my calls are not for short term traders where everyday some rescue operations here and there try to save the market.
My calls were for SELL only and even now SELL with 100% cash. I gave the call to those who had long position of stocks and not for someone who wanted to play with the market short term (or speculate) and wants to make money.
My SELL call was to save the money of those who were long on equity. I have mentioned number of times, that the present times are not for making money, but to preserve the capital for future use.
There were times, when I also gave the most bullish calls on the market as a whole when the banking stocks were trading at their nadir and SENSEX was at 2800 when I had predicted that the Indian market would rise to 10,000 and that Dow and SENSEX would shake hands (with SENSEX rising and DOW falling). Dow did fall and SENSEX did rise, with latter overshooting the DOW much higher.
None of the technical analysts or the chartists could have predicted such forward looking statements, because they relied on historical which never saw the market beyond 6000 at the most. I relied on fundamentals at that time and even now. I rarely read charts therefore. though I do possess extensive knowledge of its theory and practice.
Whenever I give calls or express opinions, I always back them up with adequate explanations as to why? If the reader agrees to accept my opinion and back up explanations, they follow me or else they are free to follow others.
So your anger that I should not open my "Big Mouth" is out of place. You were not the kind of investors to whom my opinion was directed at. It is unfortunate that you, as short term operator, followed up the call for short term treats,. whereas my call for long term investors to retreat.
Kalidas, Hong Kong
26-04-2008 |
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