Market View 15 July 2010

Wall Street ended mixed but Dow continue to
rise for a 7 consecutive days while S&P 500
snapped a 6-day run to close marginally down.
" U.S. stocks broke a six-day winning streak on
Wednesday, with the S&P 500 ending a hair lower
after the Federal Reserve suggested additional
measures may be needed to combat a weakening
economy." Dow reversed from day-low to close
up 3.7 points, Nasdaq gained 8 points while S&P 500
down 0.17 points.


If you were watching the market yesterday, you will
noticed that the market went into a frenzy in the last
1.5 hours and many stocks run wild and high.
Stocks like Sound Global, Broadway "suddenly" become
hyper-active and it was great that I did not take my
eye of the screen or took a early break from the market.

Stocks will open slightly weaker today but I see that
we will still have some greens popping up. PEC crossed
the 81.5cts resistance yesterday with volume and
momentum, and it will be "fun" to watch whether it will
continue its run. The next resistance stands at 86.5cts
and the recent 81.5cts resistance will turn into a
supporting level.

I mentioned Longcheer in the blog days ago but since
then the stock is in a resting period until yesterday late
afternoon. It should make a charge for the recent
52-week high of 78cts but the 73cts support need
to stand. A few readers asked me about Global Palm
yesterday which also moved in late afternoon. It seems
that a handful of readers have since my recommendation
put it into their watchlist and noticed its surge yesterday.
I can only say that although it break the immediate resistance
34cts yesterday but I will only be interested when it
hit or break 37cts. The rest of the stocks as mentioned
yesterday are still in the trading range and I will be
interested when either side is taken out.

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