I appreciate your views, There is sure to be short position in the market, but to be frank I wont wait for 100/-, I sell today, if I get anything close to 95/- plus or minus 1 rupee and move over to another new IPO
1779. ipo informer Nov 24, 2010 7:35:08 PM IST Report Spam ::24/11/2010,15:50:09 ::nse_cm ::24-Nov-2010 15:50:26 "Tentative list of securities to be auctioned in A 2010223 to be held on Nov 25, 2010.
On Tuesday, every market around the world traded lower. Not only have the global markets been jittery due the events surrounding the European Union’s bailout of Ireland but on Monday night, North Korea and South Korea traded artillery fire. This was a major escalation in an already tense situation between these two countries.
People are fearful that the events in the Korean peninsula could lead to an all-out war which could result in increased selling in the global markets.
As people sold their stocks and commodities they bought the dollar, which rallied almost 2% against the Euro and other Asian currency including Indian Rupee..Sensex and Nifty traded down… by many % points. However, there was one investment that actually traded higher… GOLD.
Gold traded up over 0.70% on a day that the dollar strengthened and equity markets tumbled. I love to see a commodity or stock show strength on a very weak day because it is a beacon of light in dark and gloomy surroundings. Strong stocks are usually the first to go even higher once the markets stop moving lower.
We know that gold has rallied significantly in September and October due to the weak dollar. Therefore, you would think that since the dollar showed exceptional strength and momentum yesterday, gold would have moved lower. Instead, it bucked the trend and moved higher.
Why?
Not only is gold being used as an investment against inflation but it also a safety haven( Indians loves it) for investors who concerned about the present state of affairs across the globe. "People buy gold when they are fearful and when there is uncertainty in the stability of currencies.” Gold has appreciated when the dollar weakened and now gold is sustaining its price as the dollar strengthens. Though gold will have its dips and retracements, days like yesterday give me affirmation that the price of gold will continue to appreciate in years to come. I repeat you must have a good % amount of GOLD as a part of your portfolio.
Got 175 shares. will wait and see its trend in the morning and will sell it in 96-98 range, if i get a chance. :) But what is the usual trend of FPO's on listing day? I was expecting it to move upward like CIL as the subscription figures were higher, but considering the fact that this is an FPO and not an IPO. if at all people wanted to buy it's share, they would have done it already at 96-98 range, why wait for the listing day. Thus getting a strong feeling that for a few days, it will have a negative trend and will be between 92-95 range.
As I said earlier I am very selective in IPO's, its nothing gambling, also for any IPO I don't want full allotment, just a lot or two with atleast 2000-3000 profit. I will always apply for IPO's at 2:50PM on last day based on GMP, Current subscription and our expert tips.