Day 2 of 2007

Day 2of 2007 started off with one of my colleague Sunny chawla dropping in my cube with a very interesting question.
Is this a right time to invest in the stock market? I was like.. Did I become a financial advisor :O
This is the million dollar question for which no one knows the correct answer for sure. I remembered a recently published article about the biggest crooks in the stock market are none other than the folks(analysts) who come in suites and gets interviewed on CNBC. I never listen to them as they have their own interests in each market update. To answer the above question, I feel it’s a good time for short term traders to invest as everyone is positive on the 3rd quarter results from Infosys, Satyam etc. On the flip side, the market is very volatile with a recent correction of 1000 points in 3 days and a bounce back in the last few days with Nifty touching the 4000 mark yesterday.
I am worried to put in my orders and hence adopted a wait and watch strategy. I gave Sunny a nice description on how the options market works and how to punch in orders through ICICI direct.

I learned the basics of stock market strategies from George while I was on a project in GE Asset Management, CT, USA. I remember the quality time we spent together in the Gym and in different pubs in Stamford,CT. Today, after a gap of 6months or so I am meeting him in Bangalore. We are planning for couple of Kingfisher beers tonight. About George, he is an American with a polish descent. Currently working as an analyst in Goldman Sachs and this is his first trip to India. I remember making him eat a Dosa and taking him to the temple in Newyork :-)

The next interesting thing which happened today was the tough bargain with the street book seller. I got the book "The life of Pi" for Rs 20 :-). Read the first few pages yesterday and it’s interesting.

Signing off, will be back soon. Keep checking...