Well, today is certainly an unusual day and a hectic day for fellow traders, punters, investors and remisiers. New record of an eye popping 7.6 Billion shares traded today is just something that we never seen before. Certainly the selling down of the penny stocks across the board, certain stocks such as Sumatec, PDZ and Marco was hit the hardest, has left most of the people wonder what's their next best move will be. As you go through the forums, most of the people are looking for direction whether to hold, to sell or to buy.
As I mentioned, What's goes up, must come down. Sumatec from 26 sen to 62 sen is enormous so this correction is certainly long overdue. As for PDZ, 16 sen to 40 sen in 3 weeks time is just unsustainable. The question here is that is today plunge down a healthy correction for more sustainable run or the end of the bull market for bursa penny stock. The sell down across the board could be due to profit taking activities couple with margin calls for traders with high margin ratio that trigger by the substantial fall of Sumatec and PDZ.
Well with more than 7.6 Billion shares traded today, I have to say this is something I never seen before. If you have position then please be alert and keep monitoring the market to feel the sentiment. Contra with high margin is certainly not a wise choice in market like this. As a trader, you should not get panic and emotionally crash by the market. Just follow your plan, if you are wrong, cut your losses asap to save yourself for another fight. Discipline and calm is what a trader needs most. Remember, a successful trader is not define by one trade or a day of trades but a long sustainable career. Thus don't let one mistake cost your entire trading career.
To be the so-called chicken to run away or risk to be Kentucky Fried Chicken is something dear traders need to think about. Again, trades with your plan, make decision in a calm and rational fashion is the way to stay in the market for long term.
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