Sensex 14000! ... Nifty 4000! ... and it was time to wake up...

Its been a while but not too long before we saw the markets below 13000. We had an astonishing run past the 14000 mark
before the sharp correction took place. It was as breath taking as last May. Now it has to be seen if this is a correction or
like the last time a sharp blip before more foolish money pumps up the indices higher!

The sharp fall saw a 1000 point wiped off the sensex in three days,it should be interesting to see how this week ends.
As option traders we enjoy these huge moves, a few trades make our day and we sit on the sideline watching the frenzy, waiting
for the next trade. It is not that we can predict the markets or time it to perfection. It is just that the instrument we use to trade helps
us make up for our mistakes and get away with some foolishness, like trying to catch a market turn.

We have noticed some interesting features, as the markets continue their upward journey. A lot of "experts" have mushroomed.
Some predict the highs and lows for every move, wish we were so good. Some are using the star's to foretell the next move, we are
not too well versed with that either.

We still stick to the old methods of trendlines, a few technical indicators, no holy grail there. And not to play down the most basic
traits of them all, our gut feeling for the market.