The Dow Jones saw another day of heavy selling last evening, on worries about the economic impact of the COVID-19 epidemic with its disruptions to travel and trade, along with the lack of action on fiscal stimulus by the Trump administration, and a renewed slump in oil prices amid a global price war between Saudi Arabia and Russia that has hit energy companies and amplified credit worries. The WHO also declared that the the Coronavirus as pandemic which caused the market to have an exodus of investors while everyone was throwing in the white towel.
The decision to sell stocks and take profits was for real. The bear is here and recession is coming. Everywhere and every stocks look gloomy and traders were all looking to dump than buy. I have to say this. It's time to buck up your skill as jobs will be lost soon and everyone will see bloodbath with a gloomy economy. Look at why I blogged about DBS not being able to run yesterday and look at the market when it opens later. It's all that supply zone that gave me signal and cues to take profits than hold stocks. It's going to get worse and tougher. Let's see.
Ronald K - Market Psychologist - A Stock Market Opportunist
