While everyone was longing all the way on August 31st where STI was up 93 points and after taking a small profit from KepCorp, I am turning suspicious and I said it's time to watch http://stockmarketmindgames.blogspot.com/2011/08/sti-small-profit.html
Of course, I am not doing anything but waiting for the turn. And the turn came when I shorted Sheng Siong and KepCorp of course, just that I didn't blog or pen about KepCorp during the time I placed my trades. That day I knew STI was at the high and never did we see it rally to the high anymore. http://stockmarketmindgames.blogspot.com/2011/09/sti-fast-punt.html
At the end of Sep 1st and Sep 2nd, I knew turning to the short side was a wiser choice and on Sep 2nd I said I am looking to short in the short term early in the morning at 8.13am however I am expecting a rebound in STI to add on to more positions. http://stockmarketmindgames.blogspot.com/2011/09/sti-short-or-long.html
http://stockmarketmindgames.blogspot.com/2011/09/sti-early-rebound.html
Last night, Dow Jones dropped 253 points, so it's natural for every man to sell on Mon and I am looking to book partial of my profits. On Mon, a lot of people will start to short and that's like the public behavior that I will not engaged myself in. They are always doing asinine things and constantly chasing the market which is almost fatal to me in my early years of trading. I had learnt my costly mistakes in the past. It's not wise to short on weakness and buy on strength, but the opposite. Whenever there is too much public participation on a counter or in the index, I am almost certainly be on the lookout for an opportunity to kill.
I have a trading plan and market outlook for next week to continue my prudent operation in STI. I am assiduously studying the charts for more answers instead of relying the news or reports. Last night, I knew the job report was going to be bad by looking at the Dow Jones chart on Tues and Wed, just that I did not blog about it because I only have so much time for myself and my other commitments, but I knew it presented a good opportunity to short in STI.
If you are interested in market outlook for next week, you can email me, but please don't ask me for entry and exit levels because I don't provide that. That's fatal for me because if you made money, you will be happy but if you cut losses, I shall feel bad and it's bad for my karma too. Those who have my number you can call me. I prefer calls, not sms as it is hard to go back and forth and explaining with short messages.
All the best next week! :)
Ronald K
