There was a last minute sell down in the banks as I was observing what the overall market was doing. In fact, I knew it would happen but did not take any actions because the market seemed to hold strong with other blue chips and only the banks were pretty jammed and not moving much. There were huge spike in DBS today, confusing retailers that it's moving up but if one was to buy at break out, the stock breakdown and vice versa and hence it was no surprise that after multiple profit taking, the stock tanked lower towards the end. As for OCBC, the stock was holding strong for all day and only gave way towards market closing because of several blue chips started to sell down like Comfort Delgro. Overall, I employ scalping strategies during this ranging market and never hold for too long. Yangzijiang also closed weak towards end of day which indicated overall market lacked of buying interest. Looking forward tomorrow.
Ronald K - Market Psychologist - A Stock Market Opportunist
