We probably saw panic in its truest form today as the market opened lower(gap down) dropping to a whopping 70 points on the earlier part of the session before recovering 43 points on the later part, closing lower by 27 points only from yesterday. The Index held above the previous low at 3738. Taking the account of today's candlestick at the support, we might see the green side of the pasture tomorrow.
I was already panicking when I saw NIKL sold down immediately to 19.82 level. I wanted to close the position already! But then I was telling myself that if I sell it at that level(19.82) I would be selling it at a major support and that is not the right way to do it.
I really like seeing doji stars and small black candles at the bottom of a downtrend as they provide less riskier entries for short term trades and they usually provide at least a 5% gain for the trade.
CYBR, MBT, MPI, NIKL, and SECB forming possible bullish reversal patterns(short term) if they move up tomorrow. Hoping for a recovery tomorrow as majority of the issues are pretty much oversold already.
As I've written before, I am in the quest of catching the bigger fish. It seems like the big fish is trying to bite my arm off.
I am still hoping that majority has sold(cut their losses) their positions already.
ASIASEC is RSA/GSIS/SSS/Govt institutions broker pala.
