The Dow as predicted had a super volatile night. As predicted on my blog at 9:03pm in the evening, my personal expectation was the Dow was having a down move and it materialized once again. See my prediction below:
I was watching the movements yesterday and after saw the spike up, I knew it was going to be a Fake Breakout. While many witnessed the Dow moved almost a 110+ points, they thought that the Dow would continue to climb. Upon a quick glance, I saw that it reached a supply zone and in the end, when I woke up this morning, indeed, the Dow closed down -53 points. Nothing can fool my eye when it comes to doing prediction in the stock market.
And hence, I had formulated my game plan next week. I will be looking to short more blue chips next week instead of going long. The blue chips looks meaty and ripe at the moment. Also, I am also bearish on oil related counters and hence I will be looking for good candidates for shorting like Keppel Corp. Get your CFD ready next week as it's maybe a bad week ahead with much opportunities.
Ronald K - Market Psychologist - A Stock Market Opportunist