Market View 1 November 2010

Another fresh month of stock trading and
another month to spar with Mr Market and
make money from him.
This week, all eyes will be on this Wednesday
when we will have the US congressional mid-term
election and interest rate fixing meeting by the
US central bank. From what I see from my
trading screen now, US futures are deep in the
green, we shall see whether it can continue through
the trading day and how the US market react for
this 2 trading prior to the BIG day.

Last Friday, if you followed GLP for the whole day
then you will notice some "happening" at the end
of the trading day. It was trading at $2.29 at pre-closing
but closed up at $2.32 with about 53 million shares changed
hand on the closing bell. I can only concluded that it
is the doing of some BBs to make the stock closed
more presentable for the month end closing.
I am a long-term investor of the stock but I do trade
contra and intra on the stock and it is not getting
profitable as the first few days of its debut.

Genting is still below the 2.18 major resistance/support
level which will be constantly tested this week and
beyond. The next resistance will be at 2.24 and
supported at 2.10
Regarding the plantation stocks that were mentioned
last week, I believe they are still good trading for
the near term but it will be volatile and erratic.
Sound Global is still hot and the resistance will be
at 91cts. I mentioned about Longcheer last Friday,
which also announced result on the same night.
It will likely make a run for 81cts resistance and
further upside will be tested at new 52-week high.

I am rather cautious this week with Big events from
Uncle Sam, but I do know that there will still be
trading opportunities in the market. One just have to
be vigilant and alert to any untoward sellings.

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