What a news that was released after market hours yesterday! It reinforced what I saw LIVE yesterday when I witnessed that Fake Breakout and followed by the hidden selling which alerted me to liquidate all my positions first to secure that last batch of $11,000. See the attached 5 min chart.
http://www.businesstimes.com.sg/companies-markets/ooil-chairman-merger-with-nol-unlikely
With all the hype and Top Volume appearance in NOL recently, so this was the actual rumour that was going on. I don't think NOL will crash with this piece of news but suffer a mini gap down first as we shall watch at 9am later. If I can sum up one thing, I would say the timing and the chart carries more weight than fundamentals and news. Why? Because during trading hours,the hidden selling would occur first for all the operators to lock in $$ which then followed by whatever news that was released. :) Am I lucky? No! It's all skill.
picture source: Business Times
Ronald K - Market Psychologist - The Big Speculator
