In my seminar last Saturday, I got engagement from the crowd for the outlook on a basket of stocks. For most of the stocks, I told everyone there shall be reactions. Today I believe we shall witness that reaction.
I never like to go through reactions and I prefer to buy when it is ready to run. Reactions are important to me because psychologically if I see $1000 in my account which then become -$2000, it hurts my psychology and sometimes I shall do silly things like cutting losses for nothing. In my trading plan, one of the golden rules is never chase rising price, so for all who chased price last Friday, watch your positions closely today.
I shall speak more during the Mind Analysis Preview.
Ronald K - Market Psychologist - The Big Speculator
