Thursday, May 23, 2019

Singapore Straits Times Index - US China Trade Tensions

The trade tensions between US and China was strong and caused the whole market to go whirlwind. Many stocks looked cheap and nice at the moment but they cannot move because of fear and selling. Yesterday I went to bought the bank stocks to only realized that even though at the demand zone, I still cut loss because if I don't the market went selling lower today with more heavy sellers.

The sellers kept pressing prices down till cut throat price and yelling for a buy but I need to see a stabilization on the market first. Just when I though it was stabilize yesterday, today it just went down south further. See the DBS and STI chart, they are all at the demand zone and it's risky to short a one bounce up might kill all shortists. I can only wait patient for the turning to come before taking another long position.

Ronald K - Market Psychologist - A Stock Market Opportunist