Yesterday was a day we cut loss on OCBC due to some range bound and volatility in the market lately. Despite cutting a small loss, I knew there is something more to the market and hence in the morning at 8:51am, I posted in my private students forum that I am not sure of the market but at 10:18am, I made a very important post that the market may rebound tonight. That post alerted me that I should look for some strong blue chips to long for overnight positions.
After searching and waiting for all the buying/selling, DBS was a strong candidate. The stock was under some serious collections and mini selling. So at 4.45pm, just 15 min before market closed, I gave a bullish Whatsapp alert to all SOMM to take note of this stock. However, I was also aware that the stock was at the high side and warned not to trade if not comfortable.
When I gave the alert, the Dow was in the range bound as circled. Woke up this morning and saw the Dow closed +232 points last evening and I knew DBS would gap up and run today (see pre market, DBS @ 19.30). In the process of short term trading, I may cut some losses, but the most important thing is to always keep the losses minimum and ride on the profits until the trend breaks. Today everyone should be in the $$ for DBS. Let's see when market starts at 9am.
Update: 9:19am, 26/4/2017
Gap up and we locked in profits at the peak at 19.29 for DBS. Congrats all!
Ronald K - Market Psychologist - A Stock Market Opportunist
