Market View 19 April 2010

Ok, if you have not been hiding in a cave for the
last few days, you will know that "U.S. securities regulators
charged Goldman Sachs Group Inc with fraud in the
structuring and marketing of a debt product tied to
subprime mortgages." This is going to trigger a event-driven
selldown and correction to the market, but I don't
think it will have a great impact to the market as a whole.

I expected the Dow to hit a major speed bump at strong
resistance 11100 points, and it only managed to get to a
high of 11189 and get push down hard. You may think
that it is a coincidence, well, think again. This market is
still going to recover from this correction to move up again
at least till the first-half of the year, and I am certainly bearish
bias for the second-half which I have been stating so for quite
some time. I certainly hope that I am wrong, but the imminent
sign is there yet again...

It will be perfectly normal to open weaker for our local
market today, but I don't foresee an entire pool of reds
all around. After the initial selldown, we may even see
bits of greens popping up, and that is when I take action.
Several members asked me before as to why did I not
take action when I see market weakness, but only take
action when it is at certain price or reverse back with
momentum behind it. I have to conclude that they are
not TA-trained and have not seen enough of Mr Market's
habits. I can't comment much more as this method
is how I deal and wrestle with Mr Market.  :-)

I will watch the market for the greens and joining the action
with light positions. Stick to the recent winners: Offshore Marine
& Tech stocks.

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