The dow was slammed down -238 points last night. However a bearish outlook was given to all students in the SMMG Club yesterday morning, warning them not to go long anymore. With the current market conditions, I am only looking at selective counters on the long side. The areas of profit taking in the STI chart is undoubtedly disturbing where the volume was very high on Tuesday, signalling that the BBs were creating a fake breakout to unload their holdings. I shorted a lot yesterday and today, I just can't wait for the market to open to collect some $$. We shall see what happens at 9am. :)
Ronald K - Market Psychologist - The Big Speculator
