Market View 18 August 2010

Wall Street rebounded in overnight trade as
"Stocks rose on Tuesday after earnings from
Wal-Mart and Home Depot and a $39 billion
takeover bid in the agriculture sector bolstered
confidence in the corporate outlook.
The two retailing giants reported profit that topped
expectations, buoying the Dow industrials."
Dow gained 104 points, S&P 500 advanced 13
points and Nasdaq surged 28 points.

Yesterday, Genting hit a morning day-high of
1.68 and reversed due to drastic profit-taking
and hit the 1.51 support level that I mentioned
in the blog and closed 1.52 It is in an interesting
situation with the 1.51 support looking weak and the
next support is at 1.45 The resistance stands at
1.57 and 1.63 Just keep to trailing stop if you are
still in the stock.

A readers asked me in skype yesterday about
Informatic which he had bought high and the price
is falling. He wish to know my view on the stock.
I told him that I normally don't look at such speculative
penny stocks other than knowing that it is in the
Top Volume and that Peter Lim bought at at low.
I told him to cut as he was already losing 3-4cts
when he asked for my view. The reply from him
is even more funny, he said that he will "continue
to see". Ok, that is his money and not mine, so I
can do so much.

I read of stories that some people made 10cts or
more from Informatic. Guess what, the opposite
maybe happening now. You may learn of stories
of people losing 10cts on the stock soon.
I prefer to stick to stocks like Genting which can
also make 10cts and much more, and I know that
the movement will continue after the profit-taking
is over. I can't say as much for Informatic, but that
is only because I am not familiar with the stock
and not I am bias against the pennies.

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.
See their comments here:
http://stocklobang.blogspot.com/feeds/comments/default

As usual,
Stay Alert but be Aggressive too.
Audentes Fortuna Juvat !!

市场生存座右铭: 风林火山