A scare or as expected?..This week was release of CR shares. The...

A scare or as expected?.

.

This week was release of CR shares. The general expectation, or at least my expectations were that we may have some churn around the CR price. So from that perspective, I wasn't surprised how it played out this week. Although it's natural, if one is holding, to keep going up, sooner than later.

.

The overall macro condition didn't help us either as general markets were tanking.

.

SP 500 has dropped 5% from its high. Last weekend I had written in my weekly report on SYA, AGE, MEI threads that this week is to play we caution, due to number of factors I had mentioned. Unfortunately macro played out that way and it didn't help our cause.
.

ENV is toying in the 1.6 to 1.8 zone, occasionally moving up. But at this stage, the upward thrust is neither driven by macro or an announcement of us. Sonot surpring that it's not able to to hold the spikes.

.
Personally, last week I had mentioned, I had bought some heads at 1.8 average and oppies 1 average. I had also written that I may continue to hold, if 1.6 is looking like holding. It did hold 1.6, though precariously, touching 1.6 on 3 days this week, including today. But that means I will hold. I bought more heads this week at 1.7, my average heads just over 1.7 now. Also bought a lot of oppies, especially today. My average 1. Glit had mentioned a number of oppies he has picked up. I didn't want to reach that level, still below it, but only slightly now. Didn't want to go there, but couldn't resist, just hoping I don't have to pay a price for temptation. This end of spec play is sometimes fraught with danger, more with oppies as sometimes liquidity is not there if you want to get out in a hurry. But have taken a calculated risk, a fairy big play for me here now. So everything now rests on hope, and of course luck. We need lady luck in plays like this, let's hope she is with us.

.

So what may happen next week? On any weakness, it would be good to hold 1.6, intra day 1.5 could still happen. If neutral, I expect punters to start taking position. On strength, to get over 2.1 is crucial. If we get over that, I feel 3 is on the horizon. Will that happen? Let's hope so. Enjoy your weekend and all the best.