Market View 4 August 2010

I just realised that yesterday's blog posting was the 400th!
How time flies since I started this blog back in October 2008.
I still can remembered that I started the blog because I want
to share the trading ideas and views with the readers and
to have them making money against Mr Market and the BBs.
I really sincerely hope that I have meet the readers' expectation
and I will continue to improve and enhance the blog, but it will
nevertheless be a slow and timely process as I am just a human
being and not a mere trading machine.
You are the fuel and energy that keep me and this blog running,
as without the readers, I am just writing and creating rubbishs
in the cyberspace. Thank you.
Here is to another 400 postings!! Pop the champagne and celebrate!!
===================================================

Ok, back to the ground.
Wall Street were down in overnight trade as "Stocks slipped
on Tuesday as Dow component Procter & Gamble Co.'s
lackluster results, coupled with weaker-than-estimated data on
consumer spending and housing, prompted investors to exercise
caution a day after the market's 2 percent rally."
Dow fell 38 points, S&P dropped 5 points and Nasdaq
lost 12 points.

Yesterday was quite an "unexpected" day for many
market players. Just when you believe that the market
will run wild after overnight rally in the US market, Mr Market
decided to pull the plug and ended the frenzy.
Most stocks were down, with the exception of CSE and PEC
still ending up 1.5cts and 1ct respectively.
I like this type of green stocks in a pool of reds and
I will watch over them closely for any further surges.

Genting finally had a decent correction and fell hard from
the top and closed at 1.25 It will have strong support at 1.21
and it better don't fall through it. The next resistance stands
at 1.27

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