I received a lot of messages, calls with regards to biosensor today. They all told me one thing, it's crashing. Well it's nothing to feel surprise about because I already blogged about it like on April 11th. http://stockmarketmindgames.blogspot.com/2012/04/biosensor-new-high.html
So if one were to short it during the period I posted and hold on, he/she shall be rewarded. Distribution takes time so is accumulation. So if you shorted at the day high, it doesn't necessarily mean it is going to come down the next day. You have to hold through for sometime to see the real flushdown like what happened to Biosensor today. So congrats to those who shorted it and for those who are in long, I think we already witnessed the high at 1.63.
The key lesson to learn from this experience is learn to be patient and trust the chart! When distribution takes place, just understand that it takes time and don't be too concerned with mini fluctuations. The person with ultimate patience wins this game because the stock market is all about mind games.
“Genius is eternal patience.” - Michelangelo
Ronald K - Market Psychologist - The Big Speculator