While I am getting slammed by some forum members about my bearish analysis on Genting SP, nevertheless it did broke out accordingly based on my analysis last night. So what if i made a wrong judgement or call? Just cut a small loss and go long, I don't see any problem with that! The most important thing with my analysis is it did ran accordingly and so your funds are not held up on some other counters that would not move at all. If you read the line properly, I wrote and you quote:
I was studying Genting Singapore's operative campaign and I strongly believe this counter is ready to move by tomorrow. A closer look at it's recent rally, it tells me that the upmove is not strong at all and tomorrow might be a start of a downtrend. However, this might or might not happen and I would need to wait for the opening bell to judge it's readiness to breakout or breakdown. A move tomorrow would be a start of a new up/down trend for Genting Singapore. As of writing this post, my analysis tells me that Genting Singapore favors the downside.
Did I ask anyone to short? I was saying that if it breakout, go long and if it breakdown, go short. Simple english. Even if I am bearish, does it matter? More importantly, the stock did perform vigorously on a breakout!
For those who asked me how do I spot if it is going to breakout/breakdown, my answer would be based on the mind games on the big interest. It's not gamble or speculation because there are evidence of buying/selling. My students who attended my course should know why. :)
This breakout caused a mass hysteria and the public is buying heavily. I turned skeptical after today's action.
Ronald K
