Market View 15 April 2010

Wall Street is in a pool of celebration as "U.S. stocks
notched a fifth straight day of gains on Wednesday as
stronger-than-expected corporate results and March
retail sales pushed the S&P 500 past 1,200 for the
first time in 18 months." Dow surged 104 points to close
at 11123, S&P 500 added 13 points and Nasdaq gained
39 points. I believe we will see a profit-taking session soon
that will bring the Dow below the 11100 points.
We will see AMD and Google reporting tonight.

STI is once again above the 3000 points closing at 3020
up 48 points yesterday, but will it be firmly stable on top?
I have my doubts, and we should see profit-taking along
the way, and I see that the surge will likely be halted around
the 3070 level.

Like what I mentioned in yesterday's blog on following
the winners stocks until their momentum is over.
Cosco, YZJ, Falcon and PEC continued to move up
but did you profit from it? If you still have them, stick to your
trailing stops, and watch for the momentum to stop and reversal
takes over.

The techs performed reasonably yesterday as well although the
profits are not as great as the above-mentioned stocks. They should
still be in the limelight given Nasdaq superb indication. I still believe that
we will see a Tech Rally this year in a sector rotational play-up.
Ok, we talk about Genting next. Somehow, it hit 92cts high yesterday
and retrace down and closed at 91cts. Although only a few lots was
transacted at 92cts, it still prove that the resistance level is intact.
One reader jokingly commented to me that, was I the person to
buy at 92cts with those few lots? Haha.. I don't think I need to do
such thing to prove that 92cts is really the resistance level.
I have already mentioned about this level since the CNY period,
and seriously, I don't think other so-called "Guru" or " Master"
has stated this before. If it ask me about Genting now, I will tell you that
the 92cts level is there to be broken.

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