Sunday, November 1, 2015

Wrong again?

Seems like I was right in the immediate term that oil was going up. However, due to the language that Fed was using, the december rate hike is back on, which caused a drop in the market.

SK3 was up to 0.35 briefly before going back down. Keppel was doing fine, and went up to $7.30 before going down to $7.18. (Oil went up by 6+%, but Fed's tone indicate hawkish, which is why all stocks got shot down) The volume for the stock is relatively thin, and I guess I screwed up this part.

I should have factored this in, before making a trade:

  1. Ensure volume is near or above average voloume (50).
  2. I should be giving more credibility to Fed, for their words are truly now gold. Especially when the market is depending on cheap money like druggies depending on drugs.