Tuesday, August 7, 2018

Yangzijiang - Shot Up Before Lunch

Yangzijiang just shot up above some small collection points before lunch. I believe they will be releasing results later today and I am not sure if the price reflects this up move in price. The STI had been quite choppy to trade recently where the direction was almost always hard to predict. The market moved up +52 points before lunch and nobody knew it can move so much in 1 day for today. It's been a long long time since I ever saw a bullish market like today and hence it was so much risky to even take a trade where nobody knows how far it can move. As of Yangzijiang, based on the price actions, I am not sure of it's results later and hence decided to give it a miss. I would look to sell my short term positions now since the market was bullish and gave me a chance to do so.

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Ronald K - Market Psychologist - A Stock Market Opportunist