Yesterday STI brokedown and I saw many public, in fact everyone was selling thinking it would trend lower. However based on my curated calculation, yes the market may go lower but profits needs to be taken for protection and confidence as I was also aware of BBs performing some dirty tricks and so I did not short the market. Everyone was calling me nuts because as the market was tanking, why cannot short? Taking a position is based on individual, I have my own money management rules and I shall never break anyone of them, so if you shorted yesterday for a fast punt, congrats. If you hold your positions overnight, you shall go through some reactions as the market is rebounding. I am trying to do the impossible and that is calculating every mini reactions and turns. I am not talking about the mid or short term, but the super short term. Stocks like Noble, Olam, GSH, Biosensor and some others rebounded!
Today I shall not do anything unless I see an opportunity. Some days, it's best to avoid trading so as to cultivate your patience and emotion.
Ronald K - Market Psychologist - The Big Speculator
