Took 2 hours to study the top volume stocks that moved today. It seemed as though everything started to simmer down earlier when the market opened. Penny stocks and blue chips weren't moving much while the rest of the market was just lackluster. Could it be due to mid autumn festival? I don't know but I know one thing and that is China and Hong Kong is off tomorrow. With that being said, HSI is selling down -300 points now while the Singapore market from morning deficit started to reverse up a little.
I started to see OCBC and DBS where they started to turn up from the low. I am not sure why did the stock suddenly shifted upwards but based on the forces of supply/demand, it was because there was more panic selling during the last hour last Friday which caused the supply to dry up and the demand to kick in. Not all stocks moved together but only some big blue chips like Jardine and the banks. I am waiting for the market's supply to dry up completely because taking another long action.
Ronald K - Market Psychologist - A Stock Market Opportunist
