Last evening I was just chatting with my ex-student and I told him that I was still bullish in the market. So 13hours ago was about 7pm last evening and that was before even the cash Dow Jones opened. So what did I see and why do I think it was bullish? That's because I saw most public selling in STI and that's how I knew without public selling, the BBs cannot create a gap up or further breakout. To capitalize on the situation, I of course went longed.
As we gear up for yet another intriguing trading day chalk full of dynamic activities, today my plan is to book whatever profits I have. Profits in pocket is never wrong. Of course, I will watch closely first before booking prematurely.
Update 17/10/12, 10.52am
Currently STI is coming off from it's day high. Many public who rushed in to buy today are all hoping it will turn up later. We shall watch and like I always said, profits in pocket is never wrong.
Ronald K - Market Psychologist - The Big Speculator
