Signs of a deep correction..

In the last couple of days, the sensex is swinging like crazy. The highly volataile market might have wiped off quite a few 'day traders'. When the market goes 50 pts up/down within an hour after opening, it definitely incites optimism in 'day traders' to go 'Long'/ 'short'. But the markets are ending the day on the other side, by a huge margin.

Sensex saw similar swings in the last two Quarters as the results time approached. Lost more than 10% in October Correction And bounced back. That correction really scared me. In January, I exited ONGC(:() before the quarter results were announced. There were a few volatile sessions but there wasn't any deep correction.

Another Quarter ends and market is awaiting the results. Despite the bad experience of exiting ONGC at the wrong time, i sold my RIL, RCoVL, Upper Ganges stocks. And anxiously waiting for the results and hoping for a Deep correction. :)

My Investments so far.. the first and the rest

Didn't exactly remember from when did i started following the stock markets seriously/passionately. But i was introduced to the concept of stocks and stock market while working on an assignment in Data Modelling and Design course @ IITB in 2003. Spent good amount of time at icicidirect.com as part of this assignment.

I took up my first job in aug 2004. And using the free internet connectivity to the best possible extent in monitoring stocks through icicidirect, Yahoo Messenger, Moneycontrol.com and now poweryourtrade.com.

In 2005 summer, i got myself a 3-in-1 savings-trading-demat account with ICICI bank and made my first investment in ONGC. After going through the initial excitement and passing through a few panic moments, i sold them off one day. I could afford a smile that day as i made some profit out of that stock. Probably, that is the last day i smiled after seeing ONGC quote. The stock is all charged up and 25pc up in a month after i sold them off :( .

Probably it taught me a lesson: it pays to be patient atleast when playing with stocks.

Few Other Stocks that i played with IDFC, IDBI, Venkys, Aarvee, Upper Ganges, Shringar Cinemas, PVR, Reliance;
And Navabharat Ferro Alloys- made a 'hole' in my portfolio with a loss of 9k. The stock went further down after i exited. :)