Market View 9 July 2010

Wall Street was up for a straight 3 days "as investors
were encouraged to see jobless claims fall and a handful
of large retailers report solid sales. Stocks have regained
their footing after a slew of poor data had raised fears of
a double-dip recession. But low market volume suggested
investors are still skeptical, and few expect to see a
sustained rally." Dow gained 121 points, S&P rose 10
points and Nasdaq added 16 points.

Many local penny stocks registered a price gain
yesterday and although I am cautious, I still managed
to nab a couple of them. I am not sure whether the
readers notice that although the stocks are rising,
most are still stuck in a tight trading range.
For example, Genting, it is still in the same range as
what I have mentioned for weeks. The main
profits come when a stock either breakout or breakdown,
I certainly don't like to be trading a tight-range stock
as the margin is not that impressive.

A few other stocks worth mentioning, YZJ support level
is at 1.32 and from what I see, the most it can get
from the current surge is 1.39 Sound Global like what
I mentioned before will move along 73.5cts level and 77cts
will be the next resistance. Cosco will have support at
1.45 and the most it can go will be 1.51
A few of the readers emailed and ask about PEC 's
surge yesterday. I can tell you that CIMB covered
it yesterday and give it a good target price. But to me,
it is still just mere price action, and this time round it will
hit resistance about 81.5cts with support at 76.5cts



I am still quite cautious about the market sentiment and
I will take profits along the way. The current surge is just
a rebound in my view, and I maintain the current view
until being proven otherwise and wrong.

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