While it was a boring day in STI yesterday, opportunity still presents itself if one were to select the correct counters. My crony was asking for my opinion since we punted the same stock. At 3:12pm when STI hit 2868, my crony was panic about his short positions since most stocks were trending higher. Well, he almost cut loss because of fear but instead I was firm that STI won't trend any higher. At that period of time, I was very calm and i knew that would be the final breakout in that 2min chart because I saw BBs rushing prices up fast for more unloading. True enough, 2868 was the final high we saw. The rest was history and thereafter the stocks we punted tanked down. You can read the entire conversation from the screenshot.
I just wanted to point out that if you traded a particular stock, that's because you had judiciously done enough homework and analysis before you punt that stock. Once you are inside a trade, there would be a lot of noises and harrowing going on to confuse and distract your mental thoughts. To gain victory and eliminate all unnecessary suffering, one must anticipate the incipient up/down wave to determine if that is a true buying/selling or if it is just a breakdown for more buying or breakup to trap more unwary bulls.
Ronald K - Market Psychologist - The Big Speculator
