Wednesday, May 30, 2018

DBS - Short Covering

After the short covering today, DBS continued to trend down lower with more and more sellers as highlighted earlier at 11.34pm in the late morning. AT 5.05pm, DBS gap down even further from the pre closing price. It seemed like sellers were non stop.

I was so surprised that OCBC stayed stable while DBS met more avalanche of sellers. The short covering was weak and there wasn't any form of strong buyers which cause price to tank strongly. The STI closed -2.12% lower today and many stocks tried to climb but there wasn't strength to do so. I believe DBS is following STI closely so if the price for DBS drop, you can expect STI has already dropped quite a bit. It's a bad market today and I will share more during my talk on June 12.

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Ronald K - Market Psychologist - A Stock Market Opportunist