Shorted 12 lots of DBS earlier in the morning. Scanned the Top 30 Volume and found out many stocks had potential but my eyes was glued to DBS as the stock hit a supply zone and looked as though sellers were emerging. Started shorting really early at 9:04am and shot the video to capture the moment of my analysis with chart drawn to highlight key important turning points.
After lunch, DBS gap down and suddenly there was wave of sellers doing short covering which I detected in the chart which caused me to have no choice but to also follow the sellers to cover the shorts where I started buying back the shares. Did not make much in this trade but I was able to escape with profits as towards end of day, DBS turned back up while most profits would have turned losses. Although I had already locked in profits as the stock turned up strong, still I thought it wasn't a bad trade since the stock looked like it was tanking instead of rising earlier in the morning.
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Ronald K - Market Psychologist - A Stock Market Opportunist
