Market View 30 July 2010

Wall Street closed in the red as "U.S. stocks
sagged in volatile trading on Thursday after
weak outlooks from technology companies and
downbeat comments from a Federal Reserve
official gave investors little reason to buy."

Dow fell 31 points, S&P 500 dropped 5 points
and Nasdaq gave up 13 points.

STI closed on a day-high at 2997.65 up 12 points,
only 3 little points away from the important pyschological
level of 3000 points. Are we heading pass it and
moving higher?

My personal view is that I am still pretty bearish
about 2nd half of 2010 which have just past one
month, but for the time being, I have to just follow
Mr Market in its action and moves. There are still
plenty of rotational interest in the stocks being played
up, and you can see that there are always fresh and
relatively unknown micro-pennies in the Top Volume.
This is not a healthy sign and I saw many pump-and-dump
trades on a number of stocks and the trend will continues
until the music stops and we will see who is the
last one holding the baby.

I believe most readers should have benefited from
the Sound Global surge which I mentioned days ago
as seen in the comment and from the skype conversation
with some readers. Some have already taken profits
while I know of some who are still holding on to
the winner stocks. Just keep a trailing stop and you are
safe. How high will it go? It will have good support at
81.5cts and the upside is likely capped at 86cts.

I will clear out most of the contra trades today unless
for positions who are deep in the money.


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