The Singapore market had a super panic mode now. Many stocks gap down and all the banks were down at least near 8%. Over the weekend, more bad news emerged and more companies looked like it was going to be default in the US which caused more fear in the Singapore market today. Last Friday, the market rebounded 100 points and everyone thought it was a rebound coming back. But based on my personal analysis, I still think it's wise to day trade than to hold it overnight. Most of the buyers last Friday were disappeared and gone since today I believe most would have thrown down on the gap down earlier in the morning. The world is entering a global recession and STI is now 2230 which is a level you had never seen before for many years. It's going to get worse now because it seemed like there is no ending to the coronavirus.
I don't want anything now but I want the world to be peace and everyone to be safe. Of course, I still want to profit and make $$ from the stock market since the opportunities are abundant and hence shorted DBS earlier for a quick one with $2960 profits. In 7 minutes, the stock crashed lower and $$ can be made fast. Look forward to trade more.
Ronald K - Market Psychologist - A Stock Market Opportunist
