Yesterday after taking profit for my Capitaland's trade, I knew we had not seen the bottom for it, and so in the morning, I am looking to short it again. However this time round, it's going to be trickier because you never know if it might hit an attractive buying level and the stock might just rebound up. In the morning, when everyone was rushing in to buy/sell, I prefer to watch and time my entry using my K Time. At 9.18 - 9.25am, I saw the stock was turning weaker, there were more sellers than buyers and so i quickly look into the minute chart for clue. This time round I shorted a 100 lots instead of 150 because of it's level of trickiness. Moreover reading the minute chart is especially tough for a Singapore stock. The bars are pretty hard to decipher.
The moment came at 11.25am when I sense some buying and so I collected all my profits of S$1500. Although I did not took right at the bottom but it was decent enough because I was aiming at some other potential stocks for a turn to the upside which provides a better risk/reward ratio. I can sense the market breath in my blood and lucky for me, I collected my profits or my efforts will be gone to waste.
Ronald K - Market Psychologist - The Big Speculator
