Wall Street fell in overnight session as "U.S. stocks
fell on Wednesday after weak durable goods figures
and a downbeat assessment of the economy from the
Fed's Beige Book kept the benchmark S&P 500
trapped below its 200-day moving average."
Dow fell 40 points, S&P 500 down 8 points and
Nasdaq gave up 24 points.
In Tuesday's blog, I stated that "I believe Sound Global
will be lively and active very very soon, and the 80s
is coming..." after I saw a good chart formation in the
chart on Monday night. Right on the dot, it started to surge
and yesterday it hit a day-high of 80cts thus fulfilling the
'80' that I stated but what about the 's'? Is there any more
further upside in this surge.
Frankly, when I saw the chart
few days ago, I believe that the move will push it pass the
80cts mark, and I maintain my view. But, if Mr Market had
already played all his cards, then Sound Global may take a
breather and the current surge is over. If it fall below 77.5cts
support level, then its fate maybe the same as PEC and
the surge is temporary over. It will face resistance at 81.5cts
on the upside.
As expected, Genting hit a day-high of 1.27 yesterday early
morning and move into reverse gear and closed at 1.26
It will test again at 1.27 and should it breach the resistance
it will likely be stopped at 1.33 resistance and 1.22 at the
support level. A few readers asked me about CSE Global
in skype yesterday. I believe that its surge is not over,
but it will face resistance at 96.5cts and should it surge
over, it will charge pass $1 next.
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
Nicolas Darvas Box Theory Trading Method
Investing Seminar
Timeless You
1 comment:
Thanks Stocklobang, I have made from Soundglobal. Your skype guidance was very helpful, except that i did not follow fully as there are work commitments. Wish you a fruitful trading day!
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