This morning, I advocated no shorting of property counters when it gap down.
As you can witnessed as of now as the chart unwinds, most property stocks are creeping up slowly. The most watched property counter is Capitaland and so I use Capitaland as an illustration. Morning when it gap down, there was a huge influx of sellers rushing in to sell more thinking the news was bad and price would trend lower and once again, that's where all the public got slaughtered. There is nothing more I can say but public always do the wrong things. As of now, the price had rebounded almost 12cents off from the low, so for those who shorted, they are mostly in panicky mode now.
There is nothing to do with charts and it's all the psychology and mind games BBs used to conditioned the public to think in one way and they acted on the other. Think about this, if they don't do it in this manner, how could they book profits by short covering so that public sell? Someone has to buy and someone has to sell. So what we witnessed today was mostly short covering because who wouldn't want to book profits when a stock gap down so much? That's why there was an old adage saying that 95% lose money and only 5% made it. Now you know!
Ronald K - Market Psychologist - The Big Speculator