You've just completely overlooked the elephant in this room! IFN's premium over NAV collapsed this summer for one simple reason: <b>Rights offering.</b>
RM I value your point of view and your experience in the market... Yes, I was informed of this offering to share holders...Yet I was unaware of how this would effect the NAV of this CEF..I had opened up a position on 5/24 and felt the pain of this offering, I doubled down on 6/13 and it hasn't looked back until 11/15 where I took most of my profits.....I agree with the funds buyback program and believe this is one of the only ways to play India....Just looking for a better price to re-enter if it happens... You know the game!!! $COSTAverageMAN
IFN needed to break 50 to start its run, it did for a day but has pulled back to 48.33....watch that one closely....
I watch INFY. It has had an steady march up for the last 4 months, but I think the uptrend may be coming to an end. Last week there was an analyst upgrade (Wachovia), but it did not go up, even though the market was up. I don't think its a good short or long right now, but it bears watching.
Sikhinvestor sorry I don't know why my header came off I was referring to Dr Reddys just so you know. I notice all these fellows eager to write off India aren't mentioning this company RDY. I think it's a logical take out next year but before then they are going to buy someone over here just raised $200 mln I'm thinking about placing a chip on IPXL -- waiting to find out a little more on Wyeth lawsuit.
11-18-06 12:44 PM INDIA is due for major pullback....It may of started on Thursday of this week.....This is a chart of HDB, IBN, INFY, PTI, REDF, SAY, SIFY, WIT....The chart starts at the 6/13 lows that almost every ADR put in....ALL of which are India ADR's.....I sold almost 95% of my positions in these 8 stocks just this week....All ADR's look to be rolling over and profit taking looks to be taking place....My best advice is wait and watch for the upward trend to continue and not buy this dip..... They have been some of my better performers over the last 4 months so I'm not saying you won't make money with your position, but your downside outways your upside at this point in the trade.... The chart does not include...MTE, SIFY, TTM, VSL (other India ADR's) $COSTAverageMAN 05-12-06 04:57 PM I was asked to post my outlook for this market.....CASH....I got my dollars hedged and I even closed out my GLD and SLV positions yesterday........ Well I'm still diversified, but the sectors that I'm in are very limited...I bought protective puts during last friday's move on the QQQQ and IWM as a hedge against a Sell in May and go away correction.....This was done mostly because earnings seasons is almost over with and the catalyst for moving the market forward is pretty limited given the dollar decline and the whole world looking overbought except CHINA...... The only Country I am bullish on is CHINA....CHINA....CHINA Just woke up and saw the BSE down sharply and the SSEC up over 4% and I had to recall one of my favorite post on ET///(the more correct the more favorite it becomes..) Will this move on the BSE change sentiment about risk tolerance in the US and European markets in any way?....I think absolutely....Any reason to take profits will begin to flood the market going into 2007....My advice increase you cash holdings or buy protection while it's still cheap....We may be in for a wild ride over the next 50 days....Worst case scenario you give up 4% to have insurance.....I would be thinking about it if you are 100% long and have a high portfolio risk/volatility (beta around 1.8 or above) and are not very well diversified....I expect high beta to get sold off today regardless of how the broad indexes do.... $COSTAverageMAN
$COST I wonder if the Paulson China trip might yield a trigger to a nice move up. Not so much with the dollar- but no doubt due to his background Paulson will come with a set of corporate requests. Some announcement about ownership rites for US companies going into China and buying Chinese companies etc.. wouldn't that set off a stampede to the upside.... stonedinvestor>
$ Cost, I'm there with you. Have been waiting for the turnaround here for a while and india does feel very, very toppy. This is as good a place as any to take profits, although I don't think that the one day drop puts us out of the lower boundary of the upchannel it has been in. But clearly, a good place to take profits. China, on the other hand, may be unstoppable. Expect large capital inflows into there in the new year. gotta love MINDX, no? But for tradability, I think that the premiums on IIF and IFN have collapsed to about nothing. Might be real nice to pick them up at a discount to MINDX in a few months perhaps - love the OEF/CEF arbitrage...
India ETF on the way according to todays wall st journal online I don't have access but if you do take a look. Remember ETF's BUY the equities before they can trade themselves so if a couple come out it will be yet another boost for Indian stocks.