Lost some money yesterday in DBS as the stock gap down in the morning and then recovered quickly back up where I decided to cut my loss. I posted in my IG Story that I want to recover my losses for DBS by trading the Dow. In the evening, I conducted a private event where I shared my cheat sheet and my secret formula for trading the Dow Jones. Thereafter, I quickly rush home, got myself clean and get ready for some hot action. The Dow Jones rose and I was patiently for the rise to hit the supply zone. Shorted 30 contracts and was under some early pressure but I knew I was shorting near supply zone so I shouldn't be so tense or worried.
https://stockmarketmindgames.blogspot.com/2019/08/dbs-cut-some-losses.html
I set a high stop loss and later when to bed but set an alarm to wake up at 2.20am just to see if I was going to be in profits or losses. To my wildest dreams, I saw $19,000 profits and immediately I checked the news to see what caused the big drop. Oh my, it was again the US-China trade war tariff that was in play again where Donald Trump tweeted out of the blue that he was going to impose 10% of $300 billion of tariffs to China goods by September 2019. That killed and crashed the market. After market, traders are trying to see if they were able to predict trump's tweet on time so that they could take advantage.
image source:
investing.com
Click and see the news below.
https://www.investing.com/news/stock-market-news/stocks--trumps-china-tariff-threat-slams-wall-street-1942964
Once again, the prediction to short before the news out was spot on as it was because it touched the supply zone on rising price which permits a bearish signal for shorting. It's not the news that drove the stock down but rather the rising prices where the retailers earlier during trading hours from 9.30am - 1130am were chasing after on a bull trend which caused the BBs to take profits on the rising prices and started short selling.
The Dow Jones from +300 points got slammed down badly to -280 points which was a very wild swing. Not only I covered my DBS losses but also made some extra surplus. Pleased to see some traders shorted at almost same level with me with only 2 contracts and made $1700+. Congrats!
Ronald K - A Game Changer
