Market View 10 August 2010

After a 3 days rest, it is so good to be back in
trading feeling so much refresh and energised.
So let's get on with things happening in the US first..

Wall Street continued to climb higher as "stocks rose
and the dollar edged higher on Monday on growing 
expectations the U.S.Federal Reserve will signal this
week it is ready to renew its stimulus efforts to prop up
a weakening U.S. economy." Look like Uncle Sam is
doing what he does so well, printing a lot of money again.
Dow up 45 points, S&P 500 added6 points and Nasdaq
gained 17 points. 


If you have look closely at last Friday's market close, 
you will noticed that the Commodities are back in the 
play. Golden Agri was the highest traded volume stock,
and Wilamr and even Kencana Agri were in the Top 15 
volume and Indoagri was in the Top 20. The other 2 
peers First Resources and Global Palm also rose on
reasonable volume. 

Interestingly, Global Palm hitted the 37cts resistance and
retraced to close at 36cts. I mentioned about this 37cts 
resistance before in previous numerous postings and it is
still standing firm but I believe not for long. It also reported
its financial result on Friday night, so if you are interested,
just check it out. Out of the few mentioned stocks, I will
focus my bullet on Global Palm to break the 37cts resistance,
Kencana Agri is current on trading halt pending announcement
which should be its financial result, and First Resources to hit
the 1.22 resistance first and then....


Other stocks that I will watch very very closely are PEC,
Sinomem, Sound Global. They should be announcing the 
result this week, and I will play on the pre and post result
announcement. The support/resistance for Genting is still
valid.

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