Short SMH the semiconductor ETF via selling the Apr 31 calls
Semis up on upgrades and Bank America analyst comments. Chart shows resistance at 31, that and the good news upgrades, looks to be a good window to short the stock.
Elsewhere, Mark Hulbert notes the unusual bearishness of gold newsletters (link). Another feather for the bullish case.
Long MON hedged, Short SMH hedged
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As such we had said earlier that the new support levels for Nifty are 4650-4610,
we can see that these levels had been maintained and now if the consolidation starts taking place at these levels we can surely will be seeing some movement either upward or in downward direction
but at the same time Nifty has the Strong Support of 4550 levels which had to be always keep in mind.
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