Thursday, October 31, 2013

STI - Fake Breakout

STI could have possibly performed a fake breakout yesterday! I was just sharing with a crowd yesterday on how I unloaded my Metech at the top using the minute chart. It was because it was trading in a trading range between 0.034-0.036 and finally when it broke out of that trading range, everyone jumped in to buy using technical analysis and also because when a stock broke out of a trading range, it is usually a breakout buy signal to all traders/retailers where most would jump in. For myself, as a speculator and a psychologist who understands human emotion and market psychology and with my proven trade records, I would look to sell and book $$ based on that breakout and excitement.

So today, for those who longed stocks yesterday, they would suffer reactions as the market would gap down. In the past few posts, I had been bearish and had never once made a bullish posts. So yeah, this fake breakout by the BBs was calculated so that public longed and BBs sell. Be cautious!

Ronald K - Market Psychologist - The Big Speculator