Anyone knows why the circled area was a weak rebound in the making? Although I don't watch this stock and it is not in my current watchlist, I saw something that caught my attention and in the coming weeks, it could present an opportunity on the short side. Of course, the past 2 days, it had already came down a lot. Those who shorted it, congrats as it was a good short candidate, however for those who missed it, there are still chances of shorting it! Watch for the turn of course! This stock is so much weaker than STI!
On Sep 1st, I made a call to the short side. However, I believe there were many people bought high up there on that day. Tomorrow, if things get from bad to worse, there will be an awful moment of reckoning for the bulls and the optimists and the wishful thinkers and those vast hordes that, dreading the pain of a small loss at the beginning, were now about to suffer total amputation without anesthetics. So the point is always cut your losses small and never ever let hope and fear control your mental state of mind!
Ronald K
