STOCKS WEEKLY GLOBAL OUTLOOK AND STRATEGY: U.S. PREMARKET: 06MAY 2009

May 6, 2009

U.S. PREMARKET: 06MAY 2009

U.S. markets trended sideways, but not with negative tendency, as shown in 15min charts below. It is on our expected lines. Yet, a doji formation on daily charts, accompanied by higher than average volume could be a cause of concern. But candlestick patterns always need confirmation on the following day. Therefore, if there is a large red candle today, only then the bulls would rethink of expecting higher level. But the favoured view is that this consolidation could be a halt before the markets forge ahead towards higher levels.

(Please click on charts to enlarge)

Our outlook for the day remains the same as of yesterday. Please click here to view that.

Disclaimer:This is not an invitation to trade in the markets. Use your own discretion as it involves the risk of financial loss for which this blog would not be held responsible.

Charts: Quote.com

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About the Weekly Outlook above
This page is updated from time to time unless, restrained by unavoidable circumstances. Every care is taken to give you a profitable outlook but trading in stock markets can be risky and cause financial loss. We do not take responsibility of any situation arising out of the outlook and recommendations here. Therefore, please use your own discretion!

We suggest a homework with pen and paper to draw your strategy. Trading on the basis of this outlook is a matter of developing a habit so as not trade all the time and every time; or keep watching the screen round the clock, looking for a kill. Just find some other occupation that keeps you away from the screen from time to time.

Plan your 'trade-setup' meticulously after a diligent homework. Have no heart burn if markets are moving up and you were not able to initiate trade. There are many who are losing also in a rising market because of a wrong trade-setup initiated in an unplanned manner. You never miss the bus in stock markets as it stops by you again and again. Just plan 'when' to ride profitably. May be next week or perhaps after 2-3 weeks and even next month series.

Long term investing is always suggested but this outlook is also suitable for swing trading, options trading or short term investing though, the given levels are relevant in any kind of trading or investing. The levels given here are effective on "closing basis". So, initiate or close the trade set up accordingly. Square off your positions well before the target and not wait for a precise hit of the target. Those who are not familiar with derivatives, may not trade in our F&O calls.

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Wishing you a happy and successful trading!

STOCKS WEEKLY GLOBAL OUTLOOK AND STRATEGY

May 6, 2009

U.S. PREMARKET: 06MAY 2009

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