Yesterday, I said that in the bigger spectrum, STI is weak. Although there was a rally, that doesn't bother me because I saw some hidden profit taking from the BBs, and after that BBs created an insidious maneuver to push the market higher and that's where I knew I need to take a short sell or I will regret. Obviously, BBs had emanated more shorts near 14:30PM yesterday and I took my short sell trade much earlier than that. Was I confident, oh yes, I would never take a trade that I am not confident in as that is like gambling and punting for the sake of making fast bucks. There is no fast or easy money in the stock market. When I take a trade and got it right, I planned to ride until I see BBs buying/selling big time and that's where I would take my profits and go. As I mentioned earlier, I never like intraday trade because there is too much emotion and the big money is never made there.
Today, I will witness panicky selling from the public and BBs putting out more shorts on any rally to suppress any buying from the public. I am not trading the market today as I am letting my profits run till its course end. From the attached, you can see that I shorted noble because according to my analysis, that's the weakness stock of all in my opinion. I think the market is going to correct big time and it shall blow your mind to depress you further. Don't chase the market, if you want to short, short on any rebound that you see. Chasing the market will only get you to do silly things. Finally, never underestimate the power of the BBs, they are cunning and most of the time, they psycho your actions to do the wrong thing at the wrong time.
Ronald K
