Market View 22 July 2010

Wall Street fell off the cliff in the final 2 hours
of trading "as investors poured money into safe havens
such as bonds after Federal Reserve Chairman Ben
Bernanke said the U.S. economy faces "unusually uncertain" 
prospects, adding to worries about the recovery."
All 3 major indexes fell more than 1%, Dow lost 109 points,
S&P 500 closed down 14 points and Nasdaq fell 35 points.
Another 120 points drop from the Dow and 70 points fall
from S&P 500 will plunge the indexes below the 10000 and 
1000 strong psychological level. Will it happen? 
I am crossing my fingers.

Last few days of trading was quite standard and boring
and I have to admit that I only done a few transactions
with the rest of the time spent on surfing the web
and reading some articles that I am supposed to read
weeks or months ago. I believe that such trend will
continue until I see a strong signal from Mr Market,
but it is ok as it is the "sitting" that makes money, and
not the rush trades.

Genting, as expected, hit 1.22 resistance and immediately
reverse gear and closed at 1.19 I know of readers who
simply followed what I said about Genting's support and
resistance and buy/see accordingly. This is not fool-proof
trading but as long as you stick to a cut-loss point, I have to 
agree that it is quite profitable. 


Stocks will definitely open weaker this morning and
are likely to continue throughout the day. Trading volume
has been on a declining path and it is a clear sign that
the stocks are in a resting period and waiting for the
next action. I will see how some stocks can reverse
toward the greens and act accordingly, but it will be
intra and contra trades.


I believe most readers would have read about the news
that SGX is thinking of removing the lunch break to 
allow continuous trading in our local market. Personally,
I dislike the idea as normally I will take the 1.5 hours,
and I do sometimes took 2 hours break, to eat my lunch
slow and peacefully, run some errands here and there
and occasionally a forty winks. But, I believe that it is
a global trend now, and it will be put into practice by the
SGX soon, which is always the case when all these 
rumours or "news" flow 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