OCBC started to fall off profusely from the buying area considering the closing was very strong yesterday. It indicated that the sellers were persistent and looking to bring the stock down. Earlier in the morning, the sellers were just mounting and kept selling like hot cakes till it reached 12.21.
The top volume showed some signs of selling today and hence the whole market got a mini sell off where at one point I saw DBS being sold down heavily due to profit taking. Today is a Thursday but I had alerted that the bank may be selling off on Tuesday starting with DBS and I was thinking if this could be the start of a major correction?
http://stockmarketmindgames.blogspot.sg/2017/12/dbs-selling-coming-soon.html
Only time will tell and with 5 lots of shorts of OCBC yesterday, the unrealized profits is now $525. In my talk next Tuesday, I will teach you how to use CFD to do shorting with small lots and how to select the best counter, best sector for trading. See you all there.
Ronald K - Market Psychologist - A Stock Market Opportunist
