Friday

Short India 4450

Post a Comment May 29, 2009 – 6:50 am |   | Permalink |  Print This Post |

Markets remain trading within a tight range -triangulating into a narrow band ready to make a definitive move (up or down is anyones guess). Given our existing positions, we will not be going over the top. We will, though, open another short India at 4450 (the only market that is up 2.6% today) $5/point. We partially closed soem of our naked short India position in our personal portfolio on Wednesday when India sank by 3.6% at 4100, but for the purpose of the Challenge we leave that short open (Rule: Take some profits when it is there). Is India a leading indicator? Maybe - so if you are risk adverse we suggest opening a long Hang Seng or China - currently trading at 10300 (the latter correlates better with India, both being “emerging markets”).