Market View 27 October 2010

 Wall Street moved up slightly as "Investors showed
unusual caution on Tuesday, leaving U.S. stocks little
changed before the potential market tumult of next
week's U.S. elections and likely announcement of more
stimulus from the Federal Reserve.
Next week's high-profile events could signal shifts 
in both monetary policy and legislative direction, 
raising fears that trumped Tuesday's earnings news
and economic reports."
Dow up 5 points, S&P 500 added 0.02 points
while Nasdaq rose 6 points.

In yesterday trading, profit-taking was the main
action of the day but a lot of stocks showed strength
in closing way above the day-low. If you are still
keeping track of MIT, then it rebounded from day-low
to close at 1.10 If this momentum continues, it should
be able to surge higher starting from breaking the
immediate 1.12 resistance. By the way, its "historical"
high was 1.20 if you are interested to know.

The plantation stocks took a beating for the first half
of the trading day but recovered well although still
closing in the red. I continue to view them as good
trading opportunities and the support and resistance
figures given yesterday are still valid until broken
at either side.

Some readers commented that the recent market
is pretty boring and not much fast action. I have to
say that it really depends on what stocks you are
trading and whether you are winning or unfortunately
losing. It is very volatile trading Genting, GLP, MIT
and the plantation stocks to me. Some readers love
to trade those stocks in Top Volume whether they
are strangers who are in it for the first time or a few
days, then they should have fast action as well although
this is simply not my cup of tea. I prefer to stick to
stocks that I know well and traded numerous times
but I do look-up for up-and-coming stocks and seek
quick trading opportunities.

I read about the news that Paul the Octopus had
died in his sleep yesterday and it was quite an
interesting article. Is it because he 泄漏天机
during the June World Cup and was punished?
No, he died of old age of 2.5 years and of natural
causes. RIP.


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