Yesterday morning, a student of mine SMSed me if Dow Jones was going to break down and my answer is No. I replied him a little late because I was at the beautiful Sentosa Cove, making my one last final visit. So even after my reply at 12.43pm in the afternoon yesterday, when I woke up this morning, the Dow indeed had a dire rebound galvanized by a new wave of organic buyers! The only sad thing was because I don't use target price / any form of technical analysis, I needed to be in front of the computer to watch for the bottom if I were to execute a trade. During that time when the Dow hit the bottom, I was already asleep.
So where is Dow heading and is it going to go higher or further breakdown to come? While many technical analysts are watching the same technical levels or price action, I understand the ulterior motives of the BBs which is much more important than anything else. When I told everyone that I live in the moment because the moment carries more weight than the past and future, it holds true. Who cares if the Dow is going to crash or trend higher in the next 1-2 weeks? All we have to care is NOW, the MOMENT that are we going to make $$ or not.
The Past and Future hold no meaning when you are living in the moment!
Ronald K - Market Psychologist - The Big Speculator
