Tuesday, June 30, 2009

June is over

The boring June is over! On this very last day of June... instead of finishing strongly, we were unable to close higher and infact mercilessly sold down near closing. This could mean funds already undressed? hahaha STI though was held up by invisible hand... this could be to squeeze index shortists over at the futures market. Broadbase market looks weak and were unable to clear resistance. I choose to square off my long and turn short right here. It has been bugging me for much of the day. All the resistance levels were screaming at me. As i see the falling market, charts after charts, they seems to be ready to plunge down. It is indeed ugly and i do not like the fact it doesn't trade higher today. Lower highs is very obvious and i thought i saw some head and shoulder patterns potentially forming... once those breakout, i think ripe for coming off.

Hum ji is tan bo jiak one. No care, i will just short one position and take it from there. Technically, it is a sell signal, the risk reward is mouth watering. If i don't short with technicals, there is probably no other reasons to short?
At most i am wrong. In trading, we cannot afford to be afraid to lose. If we fall, we get up, dust ourselves and look for the next trade. 富贵险中求!

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