Another short sell trade in Ezion with 400 lots and profited with $5000. The market sudden shift caught many by surprise but some shorts were issued out last week. Today is a day to reap rewards. The Ezion chart was bearish last week with profit takings and exhausted gap up. With more sellers join the shorting game, the price can only tank lower. Book profits first and move on to the next stock. Noble collapsed too with a downgrade rating, what a waste!
http://stockmarketmindgames.blogspot.sg/2016/05/noble-shorting-340-lots-in-2-contra-days.html
REUTERS/BOBBY YIP
Fitch Ratings has placed commodities trade house Noble Group on watch for a potential downgrade, which would take the company's credit rating to junk status.
Fellow ratings agencies Standard and Poor's and Moody's have both cut their ratings for Noble to junk status in recent months.
Singapore-listed Noble, which trades commodities including coal, iron ore and oil, is battling to boost investor confidence after a bruising accounting dispute and weak markets.
Fitch said the potential downgrade hinges on Noble's ability to negotiate competitive financing terms, with a large portion of its $2.2 billion of bank facilities due to mature this month.
"The RNW (Rating Watch Negative) is driven by Fitch's expectations that Noble will focus more on shorter-term and secured financing to lower financing costs amid a difficult operating environment," Fitch said in a statement.
"This is likely to result in less financial flexibility for the company."
Workshop Date: 10th May 2016,Time: 7.00pm to 9.00pm
Ronald K - Market Psychologist - A Stock Market Opportunist
