Market View 5 August 2010

Wall Street continued to move up as "U.S. stocks 
rose in thin trade on Wednesday as retailers' earnings
and a report showing a slight improvement in private 
employment boosted optimism ahead of Friday's
payrolls report." Dow advanced 44 points,  S&P 500
gained 7 points and Nasdaq added 20 points.
The reporting season is coming to a close as about
80% of the S&P 500 companies have already reported
quarterly result, so we are likely to see volatility to test
any further upside of the indexes.

Genting indeed stopped at the $1.27 resistance that I 
mentioned yesterday, and with it closed at the same
level, it will be interesting to see how high it can go today.
Any further upside is likely capped at 1.34 which is
still "far" away.


I continue to like Sound Global, PEC and CSE, and I see them
resuming the surge soon to the 80s, 90s and >$1 respectively.
Sound Global will face resistance at 81cts, PEC at 91cts
and CSE at 1.02
Recently, the volume for some stocks have dropped drastically
but I noticed a few other "colder" stocks having very good
chart formation which points to a wonderful breakout if
it materialised. I will update accordingly in the coming postings.



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