The market had a huge gap down today after some powerful rise on Tuesday where the STI gained +60 points in 1 day after many months. Wed and today, the market experienced huge sell off and wiped out all 60 points where all the efforts to push the market up suddenly got washed off so suddenly, so abruptly. I am not sure what's the news but I know there might be bad days coming and it's a bad sign for trading because the volatility was huge in a short period of time.
I posted my bearish morning outlook today in my private forum at 8:57am, 3 minutes before market started and when market opened, the STI gap down -42 points while no stocks was sparred. I would now need to wait for the selling to abate first if I need to go long and hence because the market is extremely volatile, it's wise to be prudent now and wait only for the right time before taking a trade.
Ronald K - Market Psychologist - A Stock Market Opportunist
