Market View 28 September 2010

Wall Street closed in the red on Monday "as investors
took a break from a four-week rally, but they remained
optimistic the advance would resume as a flurry of deals
suggested companies were seeing value in the market."
Dow fell 48 points, S&P 500 lost 7 points and Nasdaq
fell 11 points.

I don't wish to paint a gloom and doom picture but
I believe that October will almost definitely not
as rosy as this September in term of the markets
and stocks performance. I see that a correction
selling will surface anytime soon and it should continue
until the Q3 result announcements pre-buying frenzy
start weeks later. Then we will see whether what
kind of "surprises" we get from the major powerhouses
both globally and local blue-chip. Whether the results
are within expectation, out-of-the-blue nasty suprises
or strong corporate results, we shall see.

Our market have been doing very well taking the
cue from the US market, and I believe that many
readers should have made money on a couple
of stocks and/or still holding to winner stocks.
That's good and  a reasonably placed trailing stop
is a essential way to protect the winnings.

Many stocks have reached and bounced off
strong resistances, and it is very likely that they will
retrace back to fragile support level which will be
broken one by one as and when the mass selling
comes until the selling slow and falter eventually.
Some people may think that because I missed the
strong run-up during my holiday so I am trying to
talk down the market. This is quite a narrow-minded
view and I certainly don't have such a thinking.

I have stock holdings as well, and they are concentrated
in those heavily traded counters, and if the market continue
to surge, I know that my holding will increase in value.
There is no need for me to talk down the market, and
I don't have that kind of super-natural or celestial ability
to do so. I am just voicing what I see in the market, and
if you don't feel that way or have entirely opposite opinion,
you are welcome to stick to yours while I stick to mine.

Over the weekend, I look through many charts and
the downside risk of many stocks overweight any further
potential upside. Genting is likely to be heading toward
the support level at 1.96 rather than toward the resistance
at 2.12

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