Ever since I cut my losses on Midas on the 11th June 2013, I knew my action was correct! In that blog title I named it Midas - Fake Volume.
http://stockmarketmindgames.blogspot.sg/2013/06/midas-fake-volume.html
After being trapped and caught many times on Fake Breakouts, I learnt how to be smarter, wiser and the mechanics that the BBs used to create fake breakouts was just pretty similar over and over again. It's always in the form of excitement, fake volume, create an impression of the stock looking good to lure public into chasing price then they unload etc..Of course, I was also one of the victim back then. But luckily for me, I don't have inferior emotion so I was only suffering bruises not any accidents.
Upon reviewing Midas, they won many contract which worth billions of dollars, however why is the price dipping everyday. Does good news equivalent to a breakdown? So if next time there is a good news, one should look to short? Why is the public always buying on good news while the BBs look to unload? Is this some kind of scheme behind the scenes? Well, the answer is very simple, buy when everyone is panic and sell when everyone is excitement at the correct timing. To me at least, that's how the whole stock market works.
Ronald K - Market Psychologist - The Big Speculator
