The stock market has gone through the roof these past three months. Everybody is pleased. Actually, not quite. I'm pissed off.
The stock market has gone through the roof these past three months. Everybody is pleased. Actually, not quite. I'm pissed off.
Am I a manic-depressive, you ask? Not in the least, but you will allow me the pleasure of being grumpy when I have derived no pleasure whatsoever from the rally of the market.
u00a0
Then are you nuts, you ask? How can you not be happy making money?
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Up, Up And Away: Trading was halted for the day immediately after it resumed at noon on May 18 at both the Bombay Stock Exchange and the National Stock Exchange as the NSE Nifty breached the 20 per cent upper circuit. The BSE Sensex, too, zoomed by almost 2,100 points |
That's because I haven't made any. When the market was scraping the bottom of the barrel in March, I was happy to assume that the only direction it would go was down.
Even if it went up a bit, it would promptly fall again, I thought. So I sat the whole damn rally out.
Are you a raging pessimist, you ask?
Probably, but at that time almost everybody was, so I was happy to be part of the crowd.
That is probably not the best way to make money in the market, but to go against it requires guts, which I have very little, it seems.
Why were you foolish enough not to buy a little later then, you ask?
For two reasons actually.
If I didn't buy when the Sensex was at 8,000 points, what would possess me to buy when it was at 10,000?
Also, I assumed the Lok Sabha elections would give the market every excuse to collapse again. Of course,
it did exactly the opposite.
A 2,000-point rally in one day is really a bit much, people should exercise a little restraint! And that is exactly what I have been doing for the past three months.
Are you sitting on your fat a''' doing nothing even now, you ask?
I must admit I am doing precisely that. Like a deer frozen in place at oncoming headlights, I am staring
wide-eyed at the immediate situation, thinking should I go this way or that, but not moving a bloody inch.
Clearly, I seem to love my a''' too much to disturb it. In that case, are you being an a''', you ask?
Of course I am.
