Market View 25 March 2010

Wall Street closed in the red in overnight trade as
"Portugal's credit rating downgrade and a weak Treasury
note auction stirred concerns about sovereign debt."
Dow was lower by 53 points, S&P 500 dropped 6
points while Nasdaq fell 16 points. It is good to take
a break after the indexes surged to multiple month high,
but it will all be back, at least for the next 2-3 months.

Yesterday, the only stock that I strongly recommended
in my blog is Broadway. I commented that Genting and
Sound Global are not the stock to be trading now. Some
readers got my clear point, and went into Broadway, and
was rewarded handsomely. Most earned at least a 5cts
profits on the stocks, and is still holding it till today's trading.
Expect consolidation at the beginning stage, but if the wind
come back in, then jump in above yesterday's day-high.

Sometimes it is just so simple to trade purely on support and
resistance level. It is a easy but powerful trading method but
many do not practice it. Genting breached the 92cts resistance
and other than the psychological support of 90cts, the next
significant support is at 86.5cts Will it fall all the way to there?
It is anyone's guess, but Mr Market will show you and me the way.
Sound Global's 95cts support looks fragile and maybe broken.

Market will be weak today so stick to the greens if available
or else just simply sit on the fence and watch the show.
Take note of the techs, they might be Hot again after the short break.

Enter any position with a Cut-loss level & Trailing Stop,
and Please practice strict (Risk)Money-management.
If you don't like what you see in the market,
simply don't trade.

If you have Skype, and would like to chat with me about
stocks and all others, you can ring me at my
email address: stocklobang@yahoo.com
I have currently a couple of members skyping with me
everyday,and they are having good trading results.

As usual,
Stay Alert but be Aggressive too.
Audentes Fortuna Juvat !!


市场生存座右铭: 风林火山