Market View 11 November 2010

Wall Street managed to edged into the green
region as "Stocks advanced on Wednesday as
investors put the previous day's uncertainty aside
and snapped up some of the week's biggest losers
in renewed optimism the rally remains intact.
Banks, which lost 3 percent over the past two sessions,
rebounded. The S&P 500 Financials index gained 1.4
percent and was the best performer of the S&P 500's
top 10 sectors." Dow closed up 10 points, S&P 500
added 5 points and Nasdaq rose 16 points.

Many stocks suffered a profit-taking selldown yesterday
with Genting and a few of the plantation stocks dropping.
Some readers commented that I talk down Genting in
Skype which is so funny to me. I don't have the power
and ability to talk Genting down, it is purely market action
that is, the profit-taking that caused it to fall.
Is Genting's surge over for now?
This is a million dollar question that I wish I can answer
with confidence, but too bad I can't. Genting will have
strong support at yesterday day-low of 2.22 followed
by even stronger force at 2.18 Further upside will
be tested by yesterday day-high 2.34 I would prefer it
to test the low before any reversal in buying force.

First Resources continued to surge through the roof
but I believe the upside is limited now and it will
be vigorously tested at 1.51 and 1.56 It will be good
if it can cover the gap at 1.38-1.39 before any further
upside.

Market looks pretty weak at the moment and you
certainly can't discount further profit-taking selling.
It is not a time to take a strong stand but a good time
to evaluate the stock portfolio and look for potentials
to add into the watchlist. I am quite sure that the next
play will be on the O&M counters with interests spilling
to the Techs and Water sector.

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