Chart reading has always been the most crucial and the most time I spent before taking an important trade. For many years, the market never changed and chart has allowed me to predict the forward movements of stocks/indices. Turning points are very important junctures to tell you where the market is moving towards to while fumbling points are areas where market encountered heavy supply and it's about to tumble down.
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The market today is pretty strong as of now. It seemed as though the blue chips are slowing creeping back and some penny stocks are currently in play. After the last week massacre in Clearbridge and Biolidics, most penny stocks moves with care now and they tried not to move too much in one day. The blue chips otherwise are moving very slowly in the background without much attention. The Top 30 Volume today has some brand new counters like Sincap, OEL, IX Biopharma and some other penny stocks which moved towards the north while others like Clearbridge which continue to suffer selling.So it's critical and crucial at this turning point to find good stocks for good turning points for higher price to come and it's also wise to avoid fumbling stocks. I focused heavily on stock picking because one stock can change your fortune and avoid junkie stocks for now. Study the STI chart and watch closely, I am waiting for strong buying before taking actions.
Ronald K - Market Psychologist - A Stock Market Opportunist
