31 Dec, 2013 (9:12AM IST)
Dec 30, 2013, (10:43pm EST)
Ready to roll your dice and play another game in world markets?
Let the whacking begin! ( 🙂 )
Guys, I have been telling you markets have become range bound, so you are bound to get whacked whichever way you trade- IF you are taking a position. If you are not, that is you are going day by day then range bound markets are best for intra-day trading. You trade up one day, down the next. Just as markets are doing. For a successful trade like that, you need charts and know intra-day support and resistance levels and keep an eye on the news.
Dow Jones, as I had written, did not breach below the support so made another high. The Dollar index is still sulking at the bottom but Gold is unable to take advantage and is sliding down further in every session on taper fears.
Equity indexes will remain range bound, waiting for the U.S. politics to pick up the threads and start bickering over budget deficit after the holiday season.
Till that happens, expect world markets to remain hovering near current levels and trade in narrow range, frustrating range.
Frustrating, if you are index trading. Those who have switched over to stock trading will find good patterns to trade.
Good luck, have another great day and entertaining session in markets today 🙂
See you later!