It looked like the market had a severe sell down yesterday where I think it might be oversold and some short covering took place. However, towards the end of the day, I realized something very peculiar, most the blue chips and the banks recovered strongly even through there was a after lunch sell down. This could meant that the market had absorbed some supply and ready to rebound back and it indeed did today with so much buyers starting to punt the market up earlier in the morning. Like what I mentioned yesterday, it might be a good time to scout for some good counters for long. The supply/demand forces still dominate the market after so many years. By reading the correct forces, one is able to deduce the outcome for the next day.
Ronald K -
Market Psychologist -
A Stock Market Opportunist
