I hate to say this, but today markets witnessed some horrendous sell off. Crazy market move on the downside was expected but some sectors saw some serious sell off. I have been continuously warning the bulls to shift their stance to selling. Take a look at the list of blog-posts where I have been consistently pleading everyone to be on the sell side :-
Investors - Time To Consider Shifting To Buying Real Estate
Sell In May & Go Away - Should We This Time?
Selling in May Has Started - Nifty On Course To Target
Short Selling - Get Ready To Take Another Shot
Indian Markets Chug Along - But Bulls Beware of Trap
Markets Sell Off In Second Half - You Were Forewarned
Short Positions For 21st May : Stock Futures
Ferocious selling today should not have harmed those who have been following this blog. However I am still sad that I got some of you to exit your sell positions earlier than you should have. This means that some of you would not have realized the full profit potential of your short positions - all because I got unnerved. My apologies. Instead of asking you to square off your short positions, I should have told you to keep a trailing stop loss. We live and learn I guess.
Those who sold CESC May Futures at 330 as per my recommendations in 21st May post, would have squared off today at the given target price of 316. They would have earned profit of Rs 14000/- from one lot in CESC.
Those who are still to take action as per my recommendations, should start trading right from tomorrow. There will be plenty of earning opportunities in trading stock futures in May. However I will be giving recommendations for trading the June series from now onwards. And tomorrow morning by 8 AM you will, get recommendations of some stock futures to trade. So check here tomorrow to get your tips before market opens. Don't miss the trades.