With the Dow plunged 251 points, I don't see a reason why I need to short the market today. When everyone is shorting, the level and quality of supply decreases. Maybe I might be wrong, but that's my trading plan for today. Not chasing, Not shorting or I might encounter short coverings/buying which could cause reactions in my trade.
Update 5.21PM, June 22, 2012
The market truly showed it's true colors with the weak supply when I posted at 8.17am. Thereafter the market rebounded strongly with short coverings and buying.
Ronald K - Market Psychologist - The Big Speculator
Update 5.21PM, June 22, 2012
The market truly showed it's true colors with the weak supply when I posted at 8.17am. Thereafter the market rebounded strongly with short coverings and buying.
Ronald K - Market Psychologist - The Big Speculator
