Last night was almost a nightmare turned reality. After longing the Dow in the afternoon, the index went spiraling downwards since then and never recovered. It went lower and lower and at one point I questioned myself what did I didn't see and what I did I see wrong. I flipped back the charts but still there wasn't anything wrong I could make out of. Longed 25,021 and my cut loss level was 24800-24850 about there.
Market opened at 10.30am and the Dow got sold down again until I saw this washing at the demand zone where the Dow touched a low of 24835 and started to recover again. It's a superb V shape rebound which is seldom seen and the bulls came back because of Facebook and other good earnings released. Held through the night and lock in profits earlier in the morning since I already had a plan of what I should do if things don't go right. It's a close shave but almost got killed. Phew..:)
Ronald K - Market Psychologist - A Stock Market Opportunist
