Saturday, September 4, 2010

Contra Bets

This week I bet on the markets moving up and was glad(a little relieved really) that things went as predicted although "prediction" is at the best of times an unreliable tool to depend on.

Supreme Ind,current market price Rs630($14),a dominant player in the plastic goods industry looks good for investing with a 6 month view and a price target of Rs1000($22)...that works out to a 60% return.

Data points from the US and European markets are swaying between euphoria and despair and in the course of the next couple of months it would be interesting to see which way they go.The respectable Indian analysts who lit up television screens in 2008-09 with their predictions of gloom and doom are begining to resurface and it makes me believe that the rally might just have some more steam left.Cheers to another week coming up...

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