Wednesday, January 16, 2019

City Development - Shorted with Scripts








The market moved up this morning and I thought the shorts my students did was wrong but later on, suddenly, the sellers came in so fast that the market had a huge sell down first. STI from +16 went to -0.1 where 16 points drop in almost 1 hour. So yesterday we shorted CityDev using the scrips counting strategy which I developed where we shorted CityDev at 8.87 and it went to a low of 8.78 earlier.


The above trade records are not mine as it's students who went short and saw some good profits in 1 day. I studied the chart carefully where there was a gap up followed by wb and profit taking. It was one of the nicely chart setup which I had seen many times and combined with scripts counting, it solidify my judgement that in the short term, Citydev might suffer some selling first and it indeed did suffer the selling.

I will be doing a sharing session on Jan 29th for those who are interested to find out what scripting counting is and how to use Hedge Fund strategy to profit from the stock market. Please bring a pen and paper if you are interested. Register using the button below.



Ronald K - Market Psychologist - A Stock Market Opportunist