The Dow had an incredulous recovery last evening. At 8:09am yesterday when I posted in my private forum, I stand firmly on my outlook and I knew that would happen because of my experienced in the Brexit case. Hence, true enough, STI opened green first, turned red and recovered. Click and read more on the below link.
Hence yesterday, upon knowing that outlook, there were shorts and long taken on stocks. Short any blue chip stocks and long gold stocks for that 1 intraday was the game plan and yes, profits were made where shorts were covered and long position was sold.
I must admit, it's horrendous and scary to see Dow plunged to -830 points at one time where I thought my outlook was wrong and it was so fearful to buy anything but I remembered, buy when everyone is fearful and sell when everyone is cheering, combined with my outlook, I accumulated some stocks and I believe today, most stocks would rebound.
The Dow recovered convincingly and was up +257! The stock market is indeed rigged in my opinion. With one scary flush down and then with no reason whatsoever, after the collections and absorption from the BBs, they conduct a rally so that you think it's down but their intention is to buy more at the bottom and conduct a breakout. Will share more in my next sharing session with a marker and whiteboard for more illustration.
picture source: marketwatch
Ronald K - Market Psychologist - A Stock Market Opportunist