Allahabad Bank !!!

It seems to be a good buy, with a forward PE ratio of around 4, a dividend yield of around 2% and a price to book of just 1!!! Most of the other public sector banks are in the range of 1.5 Price / book, which means that there is scope for further upside. Also the stock has just made a 52 week high, and the charts are also looking good.

Also what i have observed is that these PSU stocks were 8-10 times cheaper in 2002-03, now this basically means that they have appreciated 8-10 times in 7-9 years!!! Now thats impressive performance, and yes not to mention that these stocks have given a constant stream of dividends, and add to it the stability offered by the govt

Nifty short covering rally!!!

I shorted the nifty and the move went wrong!!!

Markets went up by 2%, and I think this might be the start of another uptrend, since the speed with which the markets covered up was amazing. So in 3 days we have covered more than 300 points on the nifty, from a low of 4530 to 4906 (futures). So all the people who shorted in between would have lost a lot (including yours sincerely). And well this is inspite of the fact the US job losses figure is at a 23 year high of 10.2%, and the markets still rallied!!!! Now it sometimes confuses me, whether the markets see more than what meets the eye, or is it some play larger than what normal mortals can think off!!!!

I am now taking a break, as I think I need to rework on my strategies to play the markets profitably. In any case would keep on posting, if I find something interesting coming along....Happy investing....going long....