Market View 5 May 2010

It was a big pool of reds as "Investors dumped stocks
on Tuesday in Wall Street's worst session in three months
on the fear that even with a bailout for Greece, Europe's debt
crisis could spread to other weak euro zone countries."
Dow dropped 225 points, or 2% to 10923, below the 11000
support level again. S&P 500 slided 29 points, or 2%.
Nasdaq tumbled 74 points, or near to 3%. I am pretty
confident that this sell-off will not last long, and we will see
a rebound soon.

Ok, I have taken a good break and rest, and is now back to
trading. What a "good" day for me to start on my 1st day
of trading! Maybe some readers will comment that I have
chosen the "perfect" time to go for a holiday, and missed out
on those few "red-letter" trading days.
Haha, I missed those few sell-down trading days but I also
missed some winners like Genting when it surged to a high.

Anyway, we can expect a weak opening today with some stocks
even opening with a gap-down, but is it going to be a all-red
trading day? I certainly don't think so. It is likely we will still be
able to see some greens among the reds, and the index should be
better after the lunch break.

I went through the charts of my watchlist of stocks yesterday,
and many have reached their important support level, so I will
watch them for any rebound play. In particular, I will look at
Genting, Sound Global, Sinotel, Broadway, PEC, First Resources,
CAO, Cosco, YZJ & Mermaid. Stick with the greens.

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