According to my local broker, there are many people now queuing up to sign up to open new trading account. According to the banker, there are also more people borrowing money to use as leverage to do shares trading.
The optimism that the market has bottomed out as evidenced by the recent days of rally.
Some are celebrating with champagne after they made a double digit profits and claims the bears are "stupid to short the market". I happen to be one of those stupid guy who shorted the market, haha.
I have made known repeatedly my stance. No, I am not interested to be called a contranian more so than making more money (objective) in this sell down. Nothing has improved at all in the economy globally with unemployment still at sky high figures, GDP in many countries to be slashed, inflationary pressures rising........
On the cover-19 front, we are witnessing more new cases in different countries along with more death cases as well. In Singapore where I reside, yesterday marks the first day of the circuit breaker or city close down. There are now 5 schools where students as young as 8 years old are infected with the disease. This is sad and not good at all. The Government has implemented the 3rd stimulus package which means that they already know from their big data that unemployment, retrenchment, etc is going to be hard hit this year. Many businesses will also fold up later or already in the process.
This wave will be the same for other countries , escalating the global economy to its low point sooner than we wanted it to be. Again, this is not good at all.
I want to say, my analysis may not gel with everyone which is absolutely fine with me. Stick to what you believe in. I could be wrong and this could be a V-shape recovery which I rather lose some money than to see the whole world suffers.
On the 4H chart, there is short term buying at 2401 and 2495. Congrats to those who longed and made some great profits. I am looking at 2560 price level to be hit (that is where the price action breaks down the trend) and goes further south.
Let's see the performance this week. Trade safely , everyone !
The optimism that the market has bottomed out as evidenced by the recent days of rally.
Some are celebrating with champagne after they made a double digit profits and claims the bears are "stupid to short the market". I happen to be one of those stupid guy who shorted the market, haha.
I have made known repeatedly my stance. No, I am not interested to be called a contranian more so than making more money (objective) in this sell down. Nothing has improved at all in the economy globally with unemployment still at sky high figures, GDP in many countries to be slashed, inflationary pressures rising........
On the cover-19 front, we are witnessing more new cases in different countries along with more death cases as well. In Singapore where I reside, yesterday marks the first day of the circuit breaker or city close down. There are now 5 schools where students as young as 8 years old are infected with the disease. This is sad and not good at all. The Government has implemented the 3rd stimulus package which means that they already know from their big data that unemployment, retrenchment, etc is going to be hard hit this year. Many businesses will also fold up later or already in the process.
This wave will be the same for other countries , escalating the global economy to its low point sooner than we wanted it to be. Again, this is not good at all.
I want to say, my analysis may not gel with everyone which is absolutely fine with me. Stick to what you believe in. I could be wrong and this could be a V-shape recovery which I rather lose some money than to see the whole world suffers.
On the 4H chart, there is short term buying at 2401 and 2495. Congrats to those who longed and made some great profits. I am looking at 2560 price level to be hit (that is where the price action breaks down the trend) and goes further south.
Let's see the performance this week. Trade safely , everyone !
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.