While I had my crazy operation with KepCorp yesterday, I got an answer from the market that it was absorbing all supply as it refused to go down. On Oct 4th and 5th, I called for a rally on the 2560 level.
http://stockmarketmindgames.blogspot.com/2011/10/sti-2560-level.html
http://stockmarketmindgames.blogspot.com/2011/10/sti-key-reversal.html
Those 2 days, I am very firm that the market would rally hard else I would not post my view on the blog. I posted on the forum on Oct 7th with the topic entitled "Bull Rally" but I did not share whether it will sustain or if it was just effervescent which of course back in my mind, I knew the answer which I planned to share during the seminar. On Sun night, I had a chat with a fellow follower of mine and I told him that we are in for a rally. Whether he believes me or not, it doesn't matter because I have my own way of punting the market and of course my own trading plan. Yesterday, I forecasted a dull session and I said " I don't plan to hold anything over night, just day trading." The reason was I was testing the market to check for overhanging supply and yes there wasn't any major supply and I closed all my positions before the end of the day.
So what is my plan for the future? I am only planning to long, of course, at turning points and safe prices. I can't emphasize much that each individual is different when it comes to trading or investing. I have my ways of doing things and if it works for me, it might not work for you. The best is you do your own due diligence before punting the market. Knowledge in trading or speculation is just 50% of the game, the other 50% which I find it more important than knowledge is your mental state of mind when you are in a trade. Without the correct mental state of mind, even if you have winning trades, for instance if you bought a stock at 1 dollar, you won't be taking the profits at 2 dollar but instead maybe at 1.10 or 1.20. It applies to cutting losses, if you allow a big loss to get the best of you, it's hard for you to recover again and that's where fear of punting the market sets in. That to me is fatal, personally. It takes gumption and contrary to be successful and of course cultivating patience is the key to roads of multiple victory.
Ronald K
