Yesterday after booking my profits in Contel Corp and UPP, I knew it was the right thing to do. I sensed that something was not right in the overall market and so even though I was pretty ill, I alerted the SMMG Club to all students not to long anymore. It's like there was a mad rush of public buying which really put me on cautionary mode because public buying without the BBs' participation will cause the market to trend up weak.
While most people use TA and thought that the bar was a Doji or Hammer, I think otherwise and differently. Those are traditional indicators and those bars are not important. The most important thing is real buying vs fake buying during the trading hours which constitutes the end resultant bar. It's not the end result but the journey towards the end result that gives me the clue. Coincidentally, Dow Jones broke down 108 points, so what will happen to STI, I believe it shall gap down during opening. We shall see.
Update: Feb 21st, 2013, 9:11am
STI gap down!!!!
Update: Feb 21st, 2013, 6:52pm
STI gap down and trended lower for the day!!!!!!!
Ronald K - Market Psychologist - The Big Speculator
