Yesterday at 11.31am I warned of a profit taking from the BBs. Then at 1.21pm, I gave another indication to watch out. In the final hour of trading yesterday, some stocks were coming off their high which tells you that profit taking was in place. Today, I don't have any positions till now as I am enjoying all my profits taken and enjoying time off.
http://stockmarketmindgames.blogspot.sg/2012/06/sti-securing-profits.html
My strategy is simple, Buy only when the BBs buy, Sell when they Take Profit and Short Sell when they start putting out shorts. Don't think that 92 points in Dow Jones is bullish, it's a trap and that's why I did not buy anything this morning. It clears my mind which allows me to liberate from stress and emotions. I will time my entry again when I see some indications of a turn. I think timing is important because if one were to buy/sell a stock on wrong timing, emotion sets in, you may do silly stuff and it cost you money even your entry is right!
Ronald K - Market Psychologist - The Big Speculator
