Yesterday was a public holiday. The Singapore market was closed and I was enjoying my shopping spree and chilling with my family. At 10.32am, a student of mine SMSed me while my phone was in silent mode. When I replied him at 12.12pm, I saw the Dow futures was about -100+ points during the Asia hours. I can't see the entire chart so I was thinking it was not looking good. At 2pm+ when I reached home and glanced through the chart when Dow was still -100+ points, this time round I knew the time for a rebound will come in the night, so at 3.08pm, I told him last night Dow had a chance for a rebound. In the night, when market opened, the Dow rebounded and when I woke up in the morning, all I saw was it closed positive.
Now, the Asia Market was off horrendously with Nikkei and Hang Seng and Shanghai down 1%+ during Asia hours because most of the traders are envisioning a bad bloody night in the US while I was the only speculator who dares to go against all odds and say a rebound will happen, counter trend against a sore market. In speculation, to make big money, one needs to defy all odds against the public and not think akin like them. Since everyone is selling, a speculator should buy so as to get dirt cheap price and when a rebound happens, he can let go easily at will while the mass public are rushing in to buy which contributes to rising price.
I shall elaborate more about this in the upcoming preview next Wednesday. This is my final preview before my course starts next weekend. Interested parties can come. Thank you.
Ronald K - Market Psychologist - The Big Speculator
