Saturday, February 14, 2009

Markets_2008-02-13

Date: Friday, February 13, 2009.
US markets ended marginally up. US Market was down for most of the day but Obama's announcements about helping mortgage owners to avoid foreclosure brought the market up in last 1 hour of trading. Nikkie was also up 1-2% before Indian markets opened. Indian markets opened with Sensex Futures upwards.

Indian Market surged in the opening as pointed out by Sensex Futures. Market held the up position till 2 pm and again there was a surge in coincident with the surge in European markets. Lot of profit booking seen during end of the day.

Looking at the Sensex Futures up, I bought some CALL options. Market rallied and I sold the options at 10% profit before the European markets opened. I should have waited for the European markets to open. I expected the European markets to rally. I could have made 20% intra day profit.

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