Tuesday, February 10, 2009

Markets_2008-02-10

Date: Friday, February 10, 2009.


US markets ended flat. US Market concerned about the Stimulus Package. Rumours about some deviation from the "Bad Bank" solution.
Indian markets opened with Sensex Futures down by 200 points. Nikkie was almost flat trending downwards.

Indian Market dipped in the opening as pointed out by Sensex Futures. Market then rallied it 1 PM. Market became cautious about European market. Lot of profit booking and lower opening of European markets brought the Indian markets down. As European Market stabilized, so did Indian market.

Looking at the Sensex Futures down 200 pts, I bought some PUT options. Market rallied and I sold the options at 20% loss before the European markets opened. I should have waited for the european markets to open. I expected the European markets to rally looking at the Indian markets.

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