Friday, July 29, 2016

Sembcorp Ind - Another Bearish Counter

Yesterday was just a plain open book exam to all Marine, Oil and Gas stocks. 20 minutes after studying the whole market conditions using what was freely available on the internet, I also decided to give a bearish outlook to all my SOMM members on Semcorp Ind. The demand was definitely weaker and there were no real buyers to support the stock since more oil related counters collapsed. The price we shorted as near day day and today was the resultant of yesterday's weak buying where to stock gap down. Yet another good trade.

update 31/7/2016, 8:51pm

The stock dropped to a low of 2.77 end of day!!

Ronald K - Market Psychologist - A Stock Market Opportunist