Today, while I was outside, I had people calling me and telling me that the market tanked down further. I of course can't wait to go home and check out the charts. As of writing this post now, I finally saw what happened for today's action. Wow, amazing! I saw a lot of public further panicky selling while some of them continue to short the market thinking it might go lower and only the BBs are secretly and actively purchasing whatever selling that was offered to them and hence the market made a staggering comeback.
Judging today's action and using the K Wave, the wave is turning to the bullish side for a moment. STI could possibly have a bear market rally in the making! I am looking to time my entry for a few selected counters very soon. I think this rally is real and could last longer than the previous rally last week. Watch!
Ronald K
