Thursday, June 6, 2019

OCBC - Fell From Cliff

I am really surprised to see the fall in the banks today. All 3 banks after a small run in the morning started to give way and fell from the cliff. None were sparred and ocbc was the worst performer. The chart looked beautiful and nice but nothing beats the market as the sellers were piling up for selling where the buyers were wither cutting losses or lost their support. At this moment, I am not sure what the banks and those blue chips were trying to do but if I need to give a reason, it could be due to interest rates cut that might hurt the banks and the property stocks. See the Top Volume, except rex is strong for the past 4 days while nothing really showed strength.

Ronald K - Market Psychologist - A Stock Market Opportunist