Conficence at last!

DOW rallied 6.84% yesterday and S&P500 is said to have gained biggest in ten days, since 1938. If this would not help the confidence to return back then what else! Short term bulls would rejoice while bears would be forced to square off their weak positions. No fresh short term 'short' positions for now!

BSE/NIFTY also have broken out of the short term downtrend channel. However, the medium term has yet to turn positive, whereas the long term is unlikely to turn positive soon. Watch out for outlook and levels given in the stocksweekly and trade accordingly!

The toxic assets plan of Geithner has only been spelled out yet, but it would take some time to see if there would be any takers of this plan in the private sector. However, the biggest advantage of this big move in the U.S. markets yesterday would help bring back the confidence among the market players. The economic data, even if it turns out to be more deteriorating would not have very dampening effect in the short term. So, no short term short positions for now!
Stocksweekly is still relevant and trade accordingly!