The US market once again had some really bad blood with the Dow Jones once again plummeted down with -1000 points. Yesterday's turn around in the STI from 2 points to 30 points where the banks rallied was once again dampened with the massive sell down last evening. The market is so volatile now with so many intraday surprises which I believe that many stocks wanted to run but because of the world wide market sell down, nothing can really move. The amazing recover in DBS yesterday was also fizzled out with a super gap down today.
I studied the OCBC and DBS chart closely and there were so many gaps as marked with a cross. It tells you that the market is so bearish now but it's washing out the stale bulls and building for the next bull wave. It reminded me of 2011 where the volatility last for almost 3 months before we see a gradual sustainable bull run that lasted for the next 6 years. I am not sure how long will this volatility last but I know that one can make very good intraday $$ almost everyday for now.
Ronald K - Market Psychologist - A Stock Market Opportunist
