Browsing: Stocks

This is going to be brief, folks. A safe sell level over the next two trading sessions will be at 95.55 with a stop at 96.85. Further out there is some more resistance at 97.11, but at present even a move to 96.55 looks remote.

On 16th October I wrote that one could double his/her money by buying Citi in stages from $11.80 down to $10.40. Today, I came across this funny (old) quip about how to easily double one’s money, and decided to share it with you:

The market gives some subtle clues to the alert investor of an impending bottom. One such clue is a diagonal triangle at the bottom of a fifth wave. Citi has come a long way from $40 where I had recommended you to sell.

I read this very engrossing story in Fortune and decided to look up that stock. Interesting to see that it has closed near the day’s high on Friday and on volume not seen the whole week. We know Warren Buffett has invested some decent money. Should we also throw in our pennies to support GE?

Can India be immune to what is happening elsewhere in the world? The answer is a resounding no. Last week the benchmark index or the “Sensitive Index of the Bombay Stock Exchange” crashed to 10,239. This level is about 2,000 points below my target for the index (I had written that we will see 12,200 when the index was above 21,000 earlier this year)