Yesterday I called for a long at 2680-2685. I am enthralled by my own precision because it's the BBs support level in my opinion. STI hit 2685 and we rebounded from there. I also posted a K Turn to say that STI was turning to the upside soon. That K Turn is not a buy/sell signal as I did not say turning to the upside now but instead a signal to watch out for because I saw heavy stampede buying during that period and if the BBs were already buying in, they need to create more panic before an upside is possible and that's where we saw 2685-2686 before a rally happens.
http://stockmarketmindgames.blogspot.com/2011/10/sti-dearth-supply.html
Today, I expect STI to start it's rebound. Will we witness a rally from here? I shall share tomorrow. As we march towards this weekend for the gumption seminar, I am happy to meet and exchange views tomorrow.
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Ronald K
