Week in review - Markets

Exremely volatile week
1) Made a loss on nifty
2) Very high volatility is also expected in coming week due to US credit concerns
3) Problem is of credit concerns spreading worldwide like BNP paribas news last week
4) If US credi issue was just local, there was nothing much to worry, but things might not be so local
5) Also many hedge funds can be in deep trouble like recent news on Goldman's Alpha fund
6) For India, outlook is anyway bearish for next week, so would prefer to sell selective stocks on possible upside on a particular day
7) For F&O, staying out is good strategy .. at least don't make any losses !
8) Shorting nifty might be a good idea in any other crash, but here there can be a good bounceback on one particular day
9) For currencies, USD seem to shed all its gains, so long on EURUSD, GBPUSD, short on USDCHF,USDJPY,EURJPY for the week
10) Crude seems to range trade in 71-74$ levels