Today was just not a good day for me. I was truly busy with meetings and work and only managed to get some time off for quick blogging without trading. In the morning, I saw many stocks were in red and I knew many would look to short, so at 11am, I went to the forum and alert one of the shortists to watch over his GLP positions as he posted that he shorted in the morning and in my heart, I was worried for him because I knew the market would possibly rebound.
At 12pm+, I finally went for my lunch and one of the students who signed up with me yesterday had a chat with me. She was all long, however at the wrong price, so I told her that the market will rebound later in the noon and watch for it. After a few hours of work, I had a glimpsed of the market and the market truly rebounded accordingly to what I saw in the chart in the morning. Well, she cut some losses but at least it's not at the day low. One would rather lose less than more right? Why did the market rebounded today and catch most Shortists? I shall share in the preview in the coming Friday.
Ronald K - Market Psychologist - The Big Speculator
