Wednesday, August 21, 2019

Capitaland - Playbook Chapter 1 Strategy

Shorted Capitaland yesterday with my playbook chapter 1 strategy. The stock was rising but when I saw a second wave of retailers chasing, I knew it was time to take a short position. Shorted near peak at 3.53 at 4.52pm yesterday before market closed and was in an unrealized -$1000 loss since that was 8 minutes before market closed. At that time when I shorted, I also studied the Dow Jones where I knew it was about to trend down lower tonight or I wouldn't have shorted. And since Capitaland was a blue chip, it was a wise thing to do.

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This morning, Capitaland wasn't in the Top Volume. It was at the back hiding until obvious sellers and selling emerged. From -$1000 losses, it climbed towards the +$2000 then to $3000 profits as of now. It tells me that I was correct on my shorts since the stock touched a temporary ceiling. See the 5 minutes chart attached, Shorted near peak and the stock had a profit taking today. It means I shorted BEFORE the selling happened today. To trade effectively, I think that's the way to go or it's hard to make $ in this market conditions. Capitaland then rose to the Top Volume with price declining which indicated some short term selling. I will share more on my playbook 1 strategy in my talk soon.

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Ronald K - Market Psychologist - A Stock Market Opportunist