I took a small position over the weekend to test the market to see where the market is heading to. Last Friday, like I mentioned in my blog, I am not taking huge positions unless the BBs asked me so. Well, it was a tricky day last Friday and I decided to just trade for fun. I was studying GLP's chart last night and came to realize one thing and that was I made a wrong decision on shorting. I shouldn't have shorted, instead I should go long. Therefore this morning, the first thing I did was to cut loss fast as you can see on my screenshot. I did not long back either because I decided I need to do some personal work.
Now STI is in a tight trading range and it is best not to trade unless one is able to select the correct stocks. I will continue to monitor until I find something that catch my attention.
Ronald K - Market Psychologist - The Big Speculator
