0200 hours, 141108
Before today, the Dow Jones (DJ) had a very strong resistance at 8147, today, now , (singapore time 0158) it broke the resistance and flew all the way crashing down. Resistance levels work like this : They act as a support or a max / min level that the stock can reach. If is just another psychological barrier that everyone in the world has placed their hopes on. Once this forefront is broken, what happens normally when the resistance is breached the price of the certain stock will shoot up, or crash down like no one's business.
Given the recent global econ fucking nomic crisis, we all know how many people have been losing money. I belonged to this group of people too this evening , when i placed a short order on DJ and dozed off in lalaland. When i awoke i was disappointed to not only see a non-profit, i saw losses of 2000 SGD that slapped me in my sleepy demeanour.
Now, a couple of hours later, i look at my brokerage software again, and decided to go into the market one more time , as this time the index was nearing 8147, so i shorted it. And i waited and went around eating , surfing net, looking at charts , bla bla. So , from a negative amount of 2000+ SGD, within 5 minutes it all rocketed up to 1798 SGD all within 10 minutes i calculated the profits to be within 4 grand. ALL WIHTIN 10 MINUTES !
DAMN. But i was greedy. Thought could win more.
Now winning 566 only.
SOB.
Shortie :
10:03 AM