Wednesday, October 3, 2012

Midas - The High

Yesterday was just critical yet crucial for my unloading plan. The first thing in the morning, I knew I need to eliminate emotion, fear, greed and hope. Let it all go and take whatever the market gives me. Time waits for no man and if I was slow by a tick of a sec, all my profits would be eroded. The stock is currently trading now at 0.42/0.425. If I were to hold through this reaction, my account would be -$1500 now.

Now, why did the BBs unloaded at 0.44 first thing in the morning? It's very simple, because the stock just used up too much strength and energy for a 2 cent gap up which to me is like running at full speed till the very last breath which requires some rest. I did not look at chart to determine the target price nor think too much at the moment when it happened. All I know was psychology and mind games when it comes to the stock market. No one can spot the high or low or when a stock is ready to breakout/breakdown, by only understanding how a stock is operated, will he/she be able to profit with the BBs.

Ronald K - Market Psychologist - The Big Speculator