Just Another Day.

If you have seen even a little bit of Jamie Dimon’s testimony before the Senate Banking Committee you should be able understand why we are destined to doom. These are the people who are supposed to safeguard America’s wealth. Instead these people were just about rolling before the almighty king and were severely apologetic about the inconvenience they have caused to the” Demon”. Most of the so called Joe Six-packs are so enthralled with Kim Kardahsian’s  sex tape and nude picture that they have no time to think about the real issues. But however much I may dislike JPM and other TBTF banks, come August, I am going to buy the shares of JPM. It is the best house in a bad neighbourhood.

So yesterday it was a sucker’s rally after all. Today it gave back half of the gains of yesterday. Tomorrow it might gain another few points and this up-down dance will continue for a while. If 1.2550 holds in Euro, we may see a bounce tomorrow. For the last 5 trading days we are moving in the following range.

Although I am not a great fan of IHS pattern, it does look like one forming and if we hold the lows of June 4, we may be due for good bounce.  With Greek election due this Sunday and FOMC on June 20, which I think will be kind of disappointing for most; I think we will hit a bottom by June 22^nd. Till then I expect the market to move sideways in a range. Some are expecting a huge bounce on Monday, June 18^th but I am doubtful and would not put a wager on it. With so much headline driven movement, why would you want to risk your capital either way? I keep repeating, we are not going to miss anything and it is better to give up few points in order to identify the true trend.

Gold appears to be holding the line for now and I am holding my GLD. But when the QE comes, Silver is expected to outshine Gold by many miles. I would not be surprised if Silver is able to cross $ 50 landmark this time. We have to be patient because the corrections are not over yet.  But we are getting there.

For the next seven trading days, I would keep repeating myself that be in cash and cushy. Identify stocks or sectors which you think have held up well during this downturn / correction and which logically will do well in the next up-move. Because with his re-election in November, Obama will do everything to ensure that stock markets are up before that. And if you have any favourite stock or sector in mind, please share it with us. I am not a stock picker and I generally go with sector specific ETFs but sometimes a well selected stock will give higher return. One sector I am looking with great interest is the Bio-tech sector. Let us know what your pick is.

Thanks for reading http://bbfinance.blogspot.com/ . Please forward / re-tweet / post it on your wall and join me in twitter. (Twitter @ BBFinanceblog)(Stocktwits: Worldoffinance) Lets have the conversation going.

Sucker's Rally?

Nothing much to say today. Yesterday SPX dropped 41 points and today it recovered 20 points. Looks like a dead cat bounce and more like a sucker’s rally. It was a gift to those who were long yesterday morning, a chance to get out. Now, I am talking very short term for the next few days or till the end of the week and I expect SPX to test its low of June 4 by then.

I think the Greek election is on Sunday, June 17 and most traders will reduce their holding before that.  That is one unknown factor no one has any control. Wolf Richter has following to say:

On June 17, when Greeks try once again to choose their next government, they may decide their country’s fate—or not. One thing is for sure, whichever parties will be able to form a coalition government, they will push for more bailout billions, but this time, forget the conditions, the structural reforms, the austerity. Just give us the money. And however much we want. They’d watched how Spanish Prime Minister Mariano Rajoy had asked for a bailout ... after reassuring everyone with utmost sincerity and for the longest time that neither Spain nor its banks would need one.

Not a detail escaped the Greeks when, after the bailout meeting on Saturday, Rajoy proclaimed victory, saying he’d been offered €100 billion, no strings attached. That’s what Greek politicians wanted to hear—and they jubilated; the yoke of German-imposed structural reforms and austerity had been broken. It didn’t matter to them how much German, Finnish, and EU officials protested that that’s not how they understood the agreement; there were, in fact, lots of strings attached, they said, which makes you wonder if there was even an agreement.

And so Greece’s election may not decide the country's future in the Eurozone, but may simply prolong the extortion racket to keep the money flowing, freely this time, and in liberal quantities—efforts that the Troika may consider distasteful and brush off with disdain. But it’s not even certain that the winning party will have enough votes to form a governing coalition or that any parties could agree to form one. In which case, a third election would be required, a possibility that Antonis Samaras, leader of the conservative New Democracy, called “suicidal.”

How long Germany and other Northern European countries will put up with this extortion racket is to be seen. The pink elephant in the room is Italy and no one is talking about France. But I think we will have to wait for another six months to see it all unravel.

Even if Europe survives through money printing, USA may not. If you think you cannot trust the Bankers, what do you think about the politicians? Who do you think has fu**ed up America more, Bush or Obama?  But this is not the place for political discussion and yet our financial security is intricately linked with what these crooks do. Unfortunate but true.

Coming back to market, for the past four trading sessions we have moved in a range while the Bollinger Band is getting narrow.  Up one day, down the next. But those of us are in cash, have nothing to worry about because as and when the opportunity comes, we will be ready.

That’s it for today. Thanks for reading http://bbfinance.blogspot.com/

Monday Madness.

Sometimes you can win just by following the simple and obvious path. Looking back at today’s price action, my call for closing the long position on last Friday afternoon and get the hell out was absolutely correct and spot on. The euphoria of Spain bailout did not last long. I took a short trade on Euro yesterday when it spiked open (I wrote this exact thing on last Friday ) and closed it in the afternoon today. May be I closed it little early but with sentiments at extreme, I do not want to take any chances. Take the money that is on the table and run. No need to be greedy. Other than that, I have no skin in the market madness.

While it was the widest range day in SPX futures, I do not think going forward the selling will be too deep or heavy. But the best way to find that out is to wait it out and see where it goes. The reason I think the selling will not be very deep is: there are lots of bad shorts out there. What I mean is that when SPX broke 1284 last time, many folks who trade by technical analysis, shorted the market because the 200 DMA was broken. Now these folks are trapped and they will cover their short position around 1290. This means there will be lots of buying around that area. I also think that market will reverse in the area of SPY $129.50. That was the gap up area and I expect the reversal to take place by Wednesday or Thursday.

Sentiments are as bearish as I have seen in many years. It seems everyone is convinced that Europe is going to explode. The last Cot report is stunning in the sense that while the commercials are super long in Euro, the non-commercials (Large Speculators) and retails are super short.

I have never seen such extreme positions in my life. If history is any guide, the commercials have always been right in calling the turns.

And do not forget the stimulus God-Fathers, who are getting ready to unleash their powers and this time, nothing but the shock and awe will work.  I am not sure if we will see it this 20^th June, but I am very sure of its coming by 1^st of August. Coordinated actions by all the central bankers of the world to kick start the world economy! More like kick the can down event but that will help us to retire rich, hopefully.

Trading wise, we are happy to be in cash and wait for good opportunities.

Hope you are enjoying my banter filled market calls without too much TA or EW or Analog or any other kind of voodoo.  If you are, please pass it along to your friends and circle and join me in Twitter (@BBFinanceblog). Thanks for reading http://bbfinance.blogspot.com/ .

Let The Circus Begin.

The Ringmasters Pet by Ben Boling

Europe has been saved. Again! The rescue package worked out for Spain shows that when it comes to giving free money to Banksters, the real masters of the universe, the Politicians will find out new and ingenious methods. The EU went out on limbs to provide money to Spain without demanding  any conditions associated with bailout.That is the beauty of the MMT. You just have to write cheque to yourself. In any case, the modern money, which is not backed by any real asset, is an illusion, a figment of imagination, which the politicians and TPTB (The Powers That Be) can create out of thin air and make the sheeples dance and sing and do their bidding. As I say, never underestimate the powers of the CBs( Central Bankers) and now ZH can take a hike for next six months.

So are we going to see a repeat of January when the equities will keep going up and up to another galaxy? I would rather wait till the bearded one shows up with money here at home. What has happened in Europe has just put a band-aid on the bleeding banks and will help restore the calm in the market. More likely we will see a pop on Monday morning but I had other reasons for the pop. I do not think we are at the moment ready for new bull phase but I think at this point we are going to deviate from the last year’s script. We will have a correction soon and I now think that we will not have a lower low. In that case we have seen the bottom.  It is still too early for safe investing and trend has not yet developed but more and more it looks like we will follow the Presidential year cycle pattern.

There is still risk of whipsaw in the market and this bottom is not going to be an event but a process.  Last Monday I wrote “Muppets Beware”. http://bbfinance.blogspot.ca/2012/06/muppets-beware.html  When CNBC, Crammer, GS, every one of those tries to scare the hell out of investors, we would be aware that something is in works. It is going to be choppy few weeks for sure and not yet conducive for sustained bull run. “O” needs good August till October. 

I quote the following from The Reformed Broker:

“ John McCain was running steadily ahead of Obama in 2008 - with a message that "the fundamentals of the economy are sound" no less! - until the September meltdown of Lehman Brothers.  That event was the trigger that shot Obama ahead of McCain and essentially ended his campaign.  Contrary to Hollywood's take, it wasn't Palin's idiocy or McCain's age or anything else - simply his defending of the Bush Economy in the midst of this hundred year's storm.  He looked ridiculous and out of touch, his optimism juxtaposed with the apocalyptic headlines that had jumped from the business section to the front page.  By the time he was "suspending his campaign" to try and fix everything, it was already over."

As long as we understand that markets are rigged by these honourable folks, and we get an idea as to how it is rigged, we can place our bets accordingly. Nothing else matters.  After election will be a different ball game altogether. We are watching the last hurrah and while we are at it, why not enjoy the show.

Week Of Hope and Helium.

Pardon me for referring my older posts to bring home the points because mostly we read selectively and remember what confirms our belief. This is called “Confirmation Bias”. Yesterday I wrote: “Is the rally over? Somehow I do not think so. I think it still has few more days of fuel left and we may see the uptrend resumed tomorrow.”  So we have had today. I wish all my calls would be always so correct!

But the overnight action was not very convincing and in the morning I decided that I will not hold positions over the weekend. In a headline driven market, where the market acts in a schizophrenic manner, it is too risky to leave open positions in a counter trend rally. In any case the bounce has been weak so far.  I expected 1340 would be taken out by now but we are still struggling to get past the high of May 29^th. So in the morning I sent out tweets that I plan to exit all positions during the day on a bounce. It is better to take profit when you just had a 500 point pop in DOW over hope and helium. I still have GLD which I will hold for now.

So now we are in cash and cushy.  No tension going over the weekend and worrying whether Spain will be able to save its crappy banks and kick the can down for few more months. If Spain does ask for bailout, it may either start a new wave of selling or start a relief rally. I do not know and I do not want to take any chances.  If you have noticed carefully, today the big boyz were totally absent and the volume was almost half of normal. No wonder we had a melt-up in the afternoon. But unless Uncle Ben shows up with the money bag, I have no intention of going long. I may play between support and resistance in a very small scale, but that is not investing. That is gambling and you have to be very clear that you are risking your capital in the hope of finding space between elephant’s toes. And I do not recommend it to regular folks looking for safe investing. Now is not the time yet.

So what’s next going forward? I am conflicted whether we will follow plan “A” which is to follow the script of last year or plan “B” which is to follow the Presidential election year cycle.  It is quite possible that we have seen the bottom on June 4^th. But it is also possible that more selling is to come given all the uncertainty. More the reason to be careful and not commit to any particular position. As I have said before, I am sure we will have a test of the lows but I am not sure of lower lows. If that is the case, then I have a nice Elliott Wave chart to share with you.

It has been made by Jamie Seattele, who is a currency technical analyst by profession and does this for living. I respect Jamie’s work and I thought it is worth sharing with the readers. But it does not mean I agree with him. It’s just another possibility.

If 1267 was the low for SPX then this plan plays out. But we do not know. Either way, the point A in the chart coincides with my call for bounce and we are almost done there. May be little bit more on the upside on Monday. Why do I think we will have some more bounce on Monday? Mainly because of the price action of Euro.

From this hourly chart of Euro you can see that Euro broke the trend-line and is now re-testing the lower part of the line. In all likelihood, it will go up to test 1.2550-1.2600 level and fall back. That can happen on Monday.  When that happens, it will be a good place to short. Another potential short candidate is Crude if it reaches $ 88 and fails there. In the afternoon, while SPX and Nasdaq flat lined, Crude started going up and I hope it goes up a whole lot more.

But McClellan Oscillator is at a level from where market cannot go up much higher and the logical route is down.

So now we wait for the correction and see where it ends.  That will give us an idea which plan we are going to follow. There is no rush and we are not going to miss anything worthwhile by being careful. End of the day, hopefully you are going to thank me for my relentless call for safety and cash. When we are playing with our future and retirement funds, it pays to have a cautious coach.

Enjoy the beautiful weekend with your loved ones. Thanks for reading http://bbfinance.blogspot.com/ . Please forward / re-tweet / post it on your wall and join me in twitter. (Twitter @ BBFinanceblog)(Stocktwits: Worldoffinance)

Bi-Polar Disorder of 1st Order.

Today’s post will be quick and short. The market displayed its bi-polar nature today and ended the day with something like a bearish reversal candle. This is the reason I keep telling that if you are in investor and not a day trader, you are well advised to give the rally a miss. Again, this behavior is completely expected because this is a counter trend rally and it is bound to fail anytime. It reached my 1^st target which is 1330 and reversed from there. Is the rally over? Somehow I do not think so. I think it still has few more days of fuel left and we may see the uptrend resumed tomorrow.

I am holding QQQ, Crude and Gold ETFs and I do not like the price action in Gold one little bit. As I wrote yesterday, I will see how it goes for few more days and then go out of it. However, intraday, it touched $ 1580 and bounced from there. On a weekly chart of GLD, we see that while it is below the long term trend line, for last three weeks it has touched 3 standard deviation on the lower end. The rubber band is too much stretched on one side and it may as well snap back.

So I will hold it till early next week to see where it goes. I have a longer term target of $ 2500/oz for gold but a good entry will be very helpful.

Crude on the other hand is a different story. My longer term target for Crude is $ 70 and so this is just a counter trend play from oversold position. It reached $ 87 intraday today and I should have gone out of it then. Let us see what happens tomorrow.

Euro and SPX is moving hand in hand like a love struck teenage couple.

But the short position in Euro is humongous and is a contrarian indicator. The Speculative Sentiment Index (SSI) of FXCM shows that crowed remains net short in Euro/ USD and further gain in Euro is likely.

That is one reason I think we will see more highs in the equities, at least in the short term.

That’s all I have time for today. Thanks for reading http://bbfinance.blogspot.com/ . Please forward / re-tweet / post it on your wall and join me in twitter. (Twitter @ BBFinanceblog)(Stocktwits: Worldoffinance)

Rip The Face Off Rally.

That was some monster rally! It was special in many ways. This was the biggest SPX rally since 12/20, biggest VIX Drop since 5/21 and biggest 10 year yield jump since 3/14. But we are not surprised because we knew it would come. I have been writing about it since: gosh, I even forget myself. This is the reason I did not short the market even when SPX broke 1284. I am afraid I keep repeating myself so very often that you might find it un-exciting. But on the other hand, I have called most of the major turns and bounces correctly without being dramatic. Now that the rally is here, what do we do with it? That depends what is your goal. Are you able to follow the futures overnight and be ready to pounce on the keyboard of your computer the moment the market opens? Do you consider yourself a nimble trader? If so, then you are ready to play. But if you have a regular job with kids and family, you have to go to office in the morning and do hundred other things besides being glued to the computer, you might give it a pass. For those regular folks, cash is king.

There is nothing fundamental in this rally. I have been showing this chart from the age of Adam.

This is a weekly chart. So let us see where it reaches by the end of the week.

What I am sure off is that we will test the lows but I am not sure whether we will have new lows. Like the Elliot wave guys, I have two possible counts. The preferred count is that we go up this week or early part of next week and selling resumes from June 20 when Bernanke extends Operation Twist and does not come up with real free money. The alternate count is, this being a presidential election year cycle, we deviate from earlier script and keep going up if Bernanke starts QE 3 on June 20.

 (Actual not updated)

 For now though I will stick with my preferred count.

In the morning before the market opened I sent out Tweets that I plan to go long on Nasdaq, Crude and Gold. If you have joined me in Twitter you would have got the actionable twitter even before the market opened (8.30 AM Eastern) and you would have been ready to take part in this spectacular rally.  The model portfolio has been updated with the positions. But I am not really happy with Gold and I might dump it in a day or two depending on its price action. It is signaling that there will not be any QE on June 20^th. Euro on the other hand declared that the world is not going to end just yet. I know it is a false hope but if that gives the bounce, I will take it.

Let us see how the market digest this rally and what is in store tomorrow. I would be happy with 1330 and surprised if we reach 1360, although that has been my range. But market is the boss. We just want to be in the good books and on the right side of boss.

Thanks for reading http://bbfinance.blogspot.com/ . Please forward / re-tweet / post it on your wall and join me in twitter to get those actionable tweets. (Twitter @ BBFinanceblog)(Stocktwits: Worldoffinance)

Sometimes There Is No Trade.

1284 has been taken back but barely just.  The market seems to be moving along the script written and depending on what action Draghi takes tomorrow, it might aim for the stars. How far it will go up is anybody’s guess. We better keep in mind that it is a counter trend rally and expecting the market to go up when the trend is down is again an expensive proposition. Unless you are nimble trader, do not even bother with the bounce and wait for the correction to get over. If you must, you may even think of shorting it when a sizable bounce has been achieved. Then again, you must know what you are doing.

I read a lot of fellow bloggers, traders, rational thinkers as well as irrational nuts. In my life time, I have followed many Pandits only to find that nobody knows any better. Sometimes however we come across words said or written which are profound and strike a chord right away. The following is an example of such. It came from Josh Brown of The Reformed Broker:

·         It is okay to admit when you don't have an edge.

·         It is okay to say that you simply have no idea what's happening next.

·         It is okay to sit out the possibility of an oversold bounce or a big snapback rally.

·         It is okay to shut down the trading software and shut your mouth.

·         There are forces at work here that many do not respect.  There is "unprecedented" and then there is this, whatever the hell this turns out to be.

·         You have a trading plan for bank runs?  For the spontaneous dissolution of the world's largest economy?  Congratulations on that, you're the only one.

·         I understand that sentiment is so bad that literally any positive news will mean a sharp spike in the markets.  But so what?

·         And what happens after?  Why does anyone think that this spike will be sustainable in the absence of actual improvement on the China/Europe/US employment front?  Why would anyone other than the most nimble traders be worried about missing it?

·         And also, it can always get worse.

·         Respect the fact that we have no idea how far this can go before it has "gone too far".  Respect the fact that once again, there is no leadership, no Man Behind the Curtain and that even the best and brightest and most connected and well-read are themselves grasping at straws here.

·         There is no solution, only a choice of what may be the least bad.  There is no consensus, no one alive has ever seen anything like this.

·         I opt not to try to be cute here.  I opt to look and listen and bide my time.

·         Sometimes there simply is no trade.  I believe this is one of those times.

I have printed it out and now it is right before my eyes where I can see it all the time and remind myself to have proper discipline. The 1^st rule of the game: do not lose money. The 2^nd rule: Read rule # 1.

Among all the bounces in all sectors, Crude will possibly give the best opportunity for a short term trade. Because it is so oversold. I will decide tomorrow whether to take a trade in Crude. But only when it is safe.

There is nothing much to say today. Everyone is tired of bad news.  The funny thing is, none of the news coming out of Europe is new and they were there even in 2011. I remember last year I wrote about the pink elephant in the room that is Italy followed by Spain. Nobody seems to remember Italy yet but believe me it will come. But I think the biggest danger to the world capitalism will come from USA.  USA has already started to monetize debt through back door and in six months time, they will be forced to do it openly. Bernanke will fight the scare of deflation with more money printing and when the bubble burst, USA will have massive inflation. It seem to be far away but it will arrive one fine day.

For now, we just wait and plan how best to save our capital. Thanks for reading http://bbfinance.blogspot.com/ . Please forward / re-tweet / post it on your wall and invite others to join. (Twitter @ BBFinanceblog)(Stocktwits: Worldoffinance)

Muppets Beware.

There were two possible signals that a bottom of some kind is close. Keep in mind, searching for top and bottom is the most expensive hobby. However some signs are hard to miss. First, CNBC ran special program (http://video.cnbc.com/gallery/?video=3000093787 ) “Markets in turmoil” where Cramer tries to scare the hell out of retail. If you have seen this man in action and have compared his recommendation for the last five years, you should know to do just the opposite of what he says. Secondly, GS comes with potential for return of bear market. ( http://www.bloomberg.com/news/2012-06-04/goldman-sachs-sees-potential-for-s-p-500-bear-market-on-europe.html ) I know GS loves the Muppets and have the welfare of all Muppets in its heart. Therefore, Muppets, beware. Most likely they want to buy your stocks cheap when they know that QE is around the corner.

I am still not bullish and would have liked the 200 DMA taken back at the least. But a huge red day closed in tiny little green can be considered as a bullish reversal. More so when everything is so much oversold on a daily basis. The markets will be driven by wild reumour and I do hope (not a good strategy) that something comes out of Europe which will give some boost to the market.

Euro reversed in a big way and with it Crude and copper.  I still think we are following last year’s model but that is based on the assumption that further QE will not come before August 1. If Bernanke comes with the money on June 20, as GS expects, then the situation changes altogether. We should be ready for such an eventuality because this is an election year.  Technically speaking there is a positive divergence in the price action and RSI.

So for now I will go with my earlier theory of a bounce and continuation of sell thereafter. Come to think of it, we are exactly at the same place in SPX where we were on Jan. 3^rd. So all the noise and bull rage of the last few months were for nothing? Why do we chase the markets on a 5 minute chart?  

Anyway, US $ actually lost for the last 3 trading days.

 Do you see a pattern here? A correction of US$ coupled with a bounce in equities, crude and other risk assets would correct the extreme oversold conditions for now.

Egan-Jones poked in the feel good bubble with a late in the day downgrade of UK.  But there is G7 meeting tomorrow and the market will catch anything that is catchable to get a bounce. As I have said many times, at this point of time, a bounce is a sell. We wait for clear direction and save our capital.

Thanks for reading http://bbfinance.blogspot.com/ . Please forward / re-tweet / post it on your wall and invite others to join. (Twitter @ BBFinanceblog)(Stocktwits: Worldoffinance)

Better Be Lucky Than Smart.

We are standing at a very interesting fork on the road. Which way will it go and which road shall we take. This is important because we want to be where the puck will be next. At the same time we are aware of the danger of front running. The mind keeps telling that we are missing the last great opportunity. The meltdown is here and if we do not join, the train will leave without us.  Our job is to rationally analyze all the arguments and see which one has better odds. Wining is not guaranteed. Never. That is why it is said that “better be lucky than smart”.

Back to the markets. Few days back I wrote that 1283 will be a good support area and  ( http://bbfinance.blogspot.ca/2012/05/same-boring-stuff.html  ) unless we see the range broken either way, it is better to sit in cash. Luckily, there is no penalty for sitting on cash, at least not yet. But now that 200DMA has been broken, will it open the floodgate to lower price? Lets us see the both sides of the argument.

Yes we will see much lower price:

·         200 DMA has been broken and the selling momentum is strong.

·         Europe is getting worse and there is no sign of any intervention from ECB.

·         Economy is stalling here in USA.

·         Unemployment remains a major problem in USA.

·         China is heading towards a hard landing.

·         Commodity sector is in bear market territory.

No, we will see a bounce:

·         The sentiment is too bearish.

·         Commodities and Euro is over sold.

·         This is an election year and election year price movement patterns are different.

·         Greece is not going to leave Euro-zone because everyone knows that a Grexit will be the disaster which will make Lehman look like a trailer.

·         The Fed will intervene. Bad news is good news.

These are some which I could come up with and I am sure there are many more on both sides. Given all that information, what is the verdict?

As you know, I am a believer of cycles. They come in various forms, short term, intermediate term, long term. The intermediate term cycle does not bottom till Mid-July but very short term cycle is bottoming just about now. When I combine the cycle analysis with the technical analysis I get the following picture:

·         The next level of support is around 1260 and below that 1200.

·         It is not going to be one straight line down.

·         I expect to see a bounce starting next week but it will be just a bounce. Max. upside target remains 1360-1380.

·         Selling is not over yet.

·         There will be QE3 or 4 whatever you call it. But Bernanke has only two possible dates to announce, June 20 or August 1. I think it will start from August 1.

This is the road map I have in mind but the market is the boss. If it keeps going down next Monday or Tuesday, I would not fight with it. But if you have been in cash, like I have been writing all these days, you will have enough fire power to get in at excellent prices. I think we are not at the end game stage yet and we will see one more upswing before everything starts to unravel. If 1283/1285 level holds on Monday, I may do a bit of bottom fishing but that is for traders who can get in and out quickly. Absolutely not for investors. Investors better wait for good trends to develop. Do not underestimate the powers of the CBs and I think we will again see concerted efforts by all the central bankers to re-inflate the balloon.

I would like to share a chart from Bespoke. It is a kind of analog and I do not have much faith in analog. So take this with a pinch of salt.

I personally think we are following the old script of 2010 and 2011 with minor variations. Let us see how the story unfolds this year. Patience is the key.

Hope you are enjoying the weekend. Thanks for reading http://bbfinance.blogspot.com/ . Please forward / re-tweet / post it on your wall and invite others to join. (Twitter @ BBFinanceblog)(Stocktwits: Worldoffinance)