Market View 30 August 2010

I have to rush off early morning last Friday to
settle some personal issues with Mr Market
and was unable to do a write-up of the
Market View. Sorry for any inconvenience
caused.
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Wall Street surged on Friday trading as
"Stocks rebounded to post their best gains in 
nearly four weeks on Friday, overcoming initial 
skittishness brought on by a revenue warning from
Intel and dour comments from Federal Reserve 
Chairman Ben Bernanke." 
Dow surged 165 points, S&P 500 gained 17
points and Nasdaq advanced 35 points.
Is the US market really to rosy as shown?
I beg to differ, and I will try to produce a 
write-up on my own opinion and view about
the US market, and the impact it will cast
on the other markets today.


Last week, I told some readers on skype that
PEC is a stock that should be priced above
$1 given its fundamental and my technical view.
After the result was announced, PEC indeed
surge high and will likely be able to test the
96cts resistance soon. Its support will be at
87cts and it will be strongly maintained.


Genting will have 1.64 as the next resistance
and 1.57 as the support. It is likely to trade
in range. Another stock I will be focusing is
Longcheer which announced result last Friday.
It should have a post-result play-up and I will
seek to benefit from such a surge.

Stocks will open on a high note today, but it may
not last through the day, so I will keep the profits 
with a 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.
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