Going with the flow

There was profit taking through out the whole day but overall volume was still a healthy one billion
shares..pale in comparison with regional markets but nevertheless quite respectable by any standards...
Those who have been following and riding on the O n G counters the last few sessions would have
noticed a distinct slack this afternoon ..in fact other than Alam which climbed even higher with strong
volume progression ,there was digression amongst the rest...Seasoned players would have noticed that
the usual "mirror" effect was missing  by mid session and would have acted upon early ,eg by taking
profits while the going was still good...

Trend and momentum traders are always mindful and alert toward sudden changes in market conditions
which can affect the performance of stocks..by studying the bid patterns of stocks that are in play a
day trader can more or less guess the likely stock movement much earlier than any short term chart can
possibly map out the eventual trend...

Sometimes a trader or investor can get too caught up with just the stocks within their portfolio and not
take notice of the real time broad market changes...Their rigid belief in the "intrinsic value ''in their stocks
may hamper their judgement in deciding whether to hold on or sell the shares ...This rigid stand can be
greatly detrimental when the broad market starts to react for instance to a sudden negative development and
 the  investor decides to hold on ...Sooner or later the high flying stock will succumb somewhat to the negative development and the very least will give up a big chunk of the recorded gains...Other than a very
selected handful ,no share is an island...

Will the upward thrust resume tomorrow? We shall see...