The GDP report hardly gave the market a push, opening with a high of +15 points before sliding down, completely losing 50.98 point at the closing. If the market drops another 50 points tomorrow, 3800 levels with definitely be taken out. When that happens, I think it would be much safer to liquidate all positions and wait until the market falls to 3600 levels before bottom fishing. The only consolation for us is the turnover during the slide today is lower than the previous days.
Blue chips are simply free falling today. There's hardly significant gainers for today except for TA +5% with 27M worth of trades.
NIKL is break-even with doubled up position from the starting position.
LC is hanging by a thread. We'll see tomorrow how this one will go.
SCC looks very ugly with the bearish engulfing candle today. I also feel like the ascending triangle formation is already invalid but it seem like it is now forming a symmetrical triangle. The accompanying volume doesn't seem to fit the pattern though.
SMC gap is almost filled so another round might be just around the corner.
Still waiting for AGI to drop further.
AP is getting ready to break down.
I put up a small position in MER today. Hoping for a stronger cat to bounce. Macquarie just seems to be on a selling spree.
