Market View 6 May 2010

It was another day of "reds" in the US "as more signs
emerged that the fallout from the Greek debt crisis
could spread to bigger European economies"
Dow lost 59 points, S&P 500 dropped 8 points
and Nasdaq fell 22 points. If you ask me for my view
on the Europe debt crisis, I will tell you that it is
just a minor issue, but it is the uncertainities and fear
that is causing the selloff right now. To me, this is all
but just a market correction reacting to a fundamental
news, and we should be back to the "greens" soon.

It was a pool of reds in my watchlist yesterday, but most
stocks closed above the day-high, and we have some greens
poping-up as well. YZJ managed to surge and the profit of
a few cents is still quite good on such a trading day.
A skype member asked me about this stock yesterday and I
told him it is a strong stock in a weak market yesterday. I wonder
did he benefited from it.

There is a recent IPO Global Palm which a few members were
asking about, and wanted to know its trading potential. I looked
at its chart since its debut and it show no sign of trading signal
until it closed at a high yesterday. I believe that it may have
bottom-up from the low, and should be a good trading opportunity.
My view will be negated should it fall below yesterday's low, but
the 37cts support/resistance level will be closely watch.

The market should be pretty volatile today, and it is a good
strategy to stick with the greens in the stocks that I mentioned
yesterday.

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