India Stock Market: The ‘Buy The Rumor, Sell The Facts’ Rally

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India Stock Market: The ‘Buy The Rumor, Sell The Facts’ Rally

By Lee Kachroo on March 13, 2009 | More Posts By Lee Kachroo | Author's Website

There is absolutely no good news from reliable sources. Every economic statistic is pointing down; all forward looking indicators are pointing down.

A perfect time for a big Bear Market Rally - complete confusion.

Citi (C) and Bank of America (BAC) are saying they are profitable and will not need any help. Anybody believe these guys?

I expect the Nifty to continue to rally with 2800+ the target. This is what I call “Buy the Rumour” and “Sell the Fact” Rally.

Rumour:
We are making a Bottom
Fact:
Q1 results estimates and reality will belie the rumour and destroy the market

Be nimble. We will see much lower levels on the Nifty, so be prepared to cut all positions while you enjoy the rally.

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