Friday, February 27, 2015

Noble Group - Net Profit Down 45.8% To US$132 Million

As one of the top 3 stocks selected by the scanner, Noble today had a huge gap down due to some bad profits recorded. Studying the chart before the gap down today, there was Iceberg research which caused 2 long bars down, however before that there was this Fake Breakout which caught many retailers up there. There was a trading halt yesterday which no one knows if it was good or bad, however from the chart, there wasn't any convincing change of behavior before the halt. So today when it gaps down, it's definitely not wise to chase and go short. Stay sideline is the best trading plan currently for this counter.

Ronald K - Market Psychologist - The Big Speculator