Market View 25 August 2010

Wall Street plunged in overnight trade as "Stocks fell
to their lowest level in seven weeks on Tuesday as
an unexpectedly large drop in home sales ratcheted
up concerns that the economic recovery is even
weaker than had been feared. The Dow and S&P 500
racked up their fourth day of losses in a row after an
industry group reported that sales of U.S. existing homes
in July fell to their slowest pace in 15 years."
Dow lost 134 points, S&P 500 fell 15 points and
Nasdaq lost 36 points.
Don't worry, this is not the  KO punch YET, but it is coming....

Yesterday, Genting fell to low of 1.52 a bid shy of
the support level and rebound to close at 1.54
It is still within the range of 1.51-1.57 and may test
the support level again today. If the support is breached,
we will see the next support at 1.45

Although I don't expect to see a total meltdown in the
pennies and mid-cap today, but it isn't going to be
pretty today. Stock will open weak and will likely
remain so except for a few "selected" stocks.
There is not many trading choices around so I will
stick to stocks that are still green today and are
on the verge of breakout. I will be looking at PEC,
Sound Global and CSE.

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