Market View 5 July 2010

Ok, I will go straight into the local market view today.
I believe that most readers are traders of Genting stock
and will realised that it closed badly in technical sense
last Friday. It hit a high of $1.21, one bid shy of my expected
resistance level and fell to close at $1.16 which is also day-low.
If the $1.15 support level is breached, then the next likely
price action is a test of of $1.11 support level. It will be very
bullish if it can test and break $1.21 again.

A few other technically negative stocks included YZJ and Cosco
having closed in a "tombstone", it will be interesting to see whether
it will move above the high of the tomb or continue to fall further.
Sound Global is pretty bullish in my view as long as it continue
to trade above the 73.5cts support.

Although my view of a reasonable market selldown is imminent,
I am still trading in the market with intra and contra-minded together
with a cut-loss and trailing stop.

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