Learning From Mistakes

 In my monday morning Post i sugessted that we should buy the panic. But I think becauser I am not matured  I didn't took into the account that the US monday morning reaction can also affect us on tuesday. so the better idea would had been to wait till tuesday to see the reactions and then buy on wednesday. The fantastic buys were available on wednesday. Most of the stocks are buchered by 80-90% from their Highs. so i guess we should see the a pull back till the end of this month. After the pull back we will again start moving in original trend again. As I said earlier also that we need time to get out of this mode and it won't happen in few weeks time. According to some important fibonacci levels, 50% and 61.8% are supposed to be important retracement levels. If we have to go by fibonacci levels then

Nifty high 6357--> 50% levels( 3117) --> 61.8% levels (2428.4) , so looking at these figure it is hard to believe that we can even drop from here. As it is said that Market is nothing but a walking drunked man, so you never know where it will step next or fall next. The above levels can be used as support to go long and can even be used as your stops.

Yesterday a thought came to mind and What worried me most about the credit crunch was that if one of my cheques is returned stamped 'insufficient funds', I won't know whether that refers to mine or the bank's! :-)

P.S.-- IF you want to read more on gobal credit crunch follow the Link(GLOBAL CREDIT CRUNCH)

" If you don't design your own life plan,

chances are you'll fall into someone else's plan.

And guess what they have planned for you? Not much. " -- Jim Rohn