What goes around, comes around

Highlights of trade today:
1. The market broke through 50 day MA on high volumes. After staying above 50 SMA for several days, it is not good sign for bulls.

2. Interim budget was the much awaited event today, but it seemed to be "sell before news" kind of event for markets. Anyway most market participants did not expect any great changes from vote on account.

3. The much higher volumes were clearly visible in NF. Cash vol were more or less the same.

4. FII were sellers and DII bigger buyers, continuing their broad role play for several days now.

The news of GDP growing by 9.2% in Jul-Sep 06 qtr was a pleasant surprise. However, on same day there were news of rioting etc in several places in Maharastra and even other states, over Dalit issues.

MPs recently were seen trying to teach a thing or two in motivation to Indian cricket team coach Greg Chappel. Nothing stirs the masses more than proclamation about love of cricket and country, or so they thought.

The Sunday Times of India has taken customer orientation to a new high!
For the articles written by columnists, now readers can leave feedback by sending SMS to a mobile
number by saying "Yes" or "No" to an article. That would probably give the TOI folks
a quick reckoner on what is selling -- what's hot and what's not.

Much TV and news coverage was given to the Aussie 'push' given to BCCI president Sharad Pawar in the Champions Trophy.
The Poynting Finger and 'Hiya buddy' were the other 'items' to round up the whole affair.
Given that it was not one single thing but 3 and counting, it is difficult to think
if it was not planned in some sense. If only one of these 3 things had happened, it
'might' be dismissed as a one off absurdity. Otherwise, such behaviour might be expected
from people drunk out of their senses.

Tata sky has recently launched the satellite tv service, and I gladly ventured to subscribe for the service, having experienced good results with a trial run Hathway's digital cable service.  The only difference is that Hathway is still
delivered through cable operator, and hence we are dependent on vagaries of power supply issues.  Otherwise, both services need a settop box.

The front page news in Times of India said Delhi will soon join other cities in the 10 m mobile users club. Used to thinking in crores for Indian population, I quickly reckoned that 10 m is 1 crore, which used to be the population of whole of Delhi a few years back.

Indian politics can become hilarious sometimes, and for your own good health, do not take your MPs or MLAs seriously. Every once in a while, the great drama of coalition politics unfolds in a state or centre. A breakaway group of legislators claim they have switched allegiance, and all hell breaks loose for some time till a govt gets in seat again. Now the conventional wisdom is that breakaway faction of legislators should be herded and protected -- like one would fence precious cattle so it is not stolen.

One of the important issues being discussed these days is how retail sector can be opened up and how much and in what sector FDI should be allowed? Some proponents of retail say there is no harm opening up retail for luxury or single brands.

Ok, I have not read the book by Amartya Sen, and probably will not. Not because I have anything against the book or author, but I have to spend my free time among various other reading pursuits.