I remembered on Feb 2 2012, a fan of mine asked me why did STI stayed positive for the entire session and it tanked in the final hour. That to many was obviously some selling going on, however to me was nothing. On that day, I saw many were selling and some were even shorting. I was absorbing whatever supply I could so as to profit the next day. I wasn't panic because I had a trading plan in place and a target for STI. So no matter how strong/weak the selling was, I was confident it will continue to trend higher until it reaches my peak. So yesterday the market rallied in the morning and guess what, many were covering shorts and even more were cutting losses. Conclusion? The high can get higher and just like the low can get lower when the market breaks all support.
I will share this in the market outlook seminar 2012 on why is this so and why traditional approach and tips KILLS. Oh by the way, stop sending emails to CityIndex because all registration is closed. I will have Gill to setup stringent checks before any seats is given. Can't wait to share my view with ya'll.
Ronald K - Market Psychologist - The Big Speculator
