Some of my guys longed Hi-P on Monday and the stock gap up and ran a little today. Although the market was half day on Monday, still like I said, there were some good stocks for trading and the tech sector looks bullish when the collections were nicely setup. As Hi-P gap up and ran further today, most of us sold it at 0.90-0.905 before the market started to tumble with HSI tanking -700 points. I was pleased not with the profits made but more on the sharpness to sell Hi-P before the market tanked.
Analyzing the mystical supply/demand theory, the stock reach a critical supply zone in the short term where sellers were there waiting to locking in profits. The buying power increased but more selling power was encountered in Hi-P which caused the stock to suffered some selling as witnessed. Then all of a sudden, the STI started to tumble and sold down too together with the banks with high selling speed which caused everything to flop. Hence, I focused on studying the force of supply/demand because it gives you an edge over the market before any selling happens. Congrats all Kris and everyone!
Ronald K -
Market Psychologist -
A Stock Market Opportunist
