Market View 26 October 2010

Wall Street rose on Monday as "U.S. stocks
rose to a five-and-a-half month high on Monday
as a falling dollar, partly driven by expectations
of further stimulus by the Federal Reserve,
prompted investors to buy riskier assets."
Dow up 31 points, S&P 500 gained 3 points
and Nasdaq added 11 points.


Yesterday, the plantation stocks finally woke
up after a short break with Golden Agri and
First Resources leading the way. I have been
recommending the plantation stocks for a while
now and I do know that a few readers were
rewarded handsomely. First Resources will
face resistance initially at 1.34 and if the momentum
charges on, the next test will be at 1.39 and
supported at 1.28 Golden Agri's next resistance
will be at 74cts with support at 65cts.

Some readers asked about any laggards in the
sector to take note, and I did notice 2 stocks:
Kencana Agri and Global Palm.
Kencana immediate resistance will be at 43.5cts
and the next will be at 46cts. Global Palm
was listed this year, if I am not wrong, and
the resistance will be at 37cts and the next
is at 40cts.

Genting is still stuck within range with support
at 2.18 and the resistance will be at 2.27
Recently the interest is with the plantations
and commodities, and it will be rotated to other
sector like Water and O&M as well.
Watch out for Sound Global to lead the way
if it breakout with strength pass the 87cts mark.


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