This morning I could smell the fear in the air, after a night of walls street trauma. I knew this could be a morning for panic sales, and my experience is my teacher. Had you been thru the 2007 Sub-prime crisis, you would understand.
What are the signs of panic sales? Gap down, Huge Volume and High Velocity.
What happen during panic sales? Oversold! People sell irrationally.
What do you do during panic sales? Buy Low Sell High!
For FKLI, 1300 proven to be a strong pivot level, from its history and from this morning price actions. The strong defense of this level charged away the bears. This is where I took some Long position. I guessed I was sailing with wind at my back, little resistance going up. And when I saw the sorhai ZacLimp shorted at 1310 level, I knew I just had to add more contracts at that level, which I did. And this one way train was so smooth that I did't have to worry of other things. Eventually it hit my target in the 20s level. Sweet sweet.
FCPO was also oversold, able to collect 20 points per contract from this god sent opportunity.
I know, losers are always losers, they work in herds.
Only winners dare to defy herd thinkings.
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