So much sellers in Asian Pay TV after the stock gap down yesterday. With the overall bearish market sentiment, there was no chance that this counter was going to run all the way up again. Study the big picture daily chart, it was clear that there was no strong demand and the sellers were dominating. Yesterday's gap down was 50% and the stock suffered the biggest one day drop ever because of the company cutting down on the dividends. Asian Pay TV tried to recover to only realized that the buyers could not sustain the sellers. This counter is now only good for short term trading. No swing, no investment grade but only contra trading. Will watch and trade this counter when the turn comes.
Ronald K - Market Psychologist - A Stock Market Opportunist
