Monday as concerns the Federal Reserve may
scale back its efforts to stimulate the economy
muted optimism over two big takeover bids.
The S&P 500 held above its 20-day moving average,
now near 1,196 and marking a potential support level,
though the index closed slightly lower."
Dow added 9 points, S&P 500 lost 1 points and
Nasdaq down 4 points.
Yesterday's market was "boring" as complained
by a handful of Skype readers, but it is in this
type of market that bargains are spotted and act upon.
I will share a trading tip today that will surely
be rewarding to the readers for many years to come
who understand the meaning behind it.
During a selldown or profit-taking or boring low volume
session, look out for stocks that still closed in the
green and with reasonable trading volume.
They will be the main attraction when the selling
is over or when their volume pick-up. While others
are in the red, they are in the green for a "reason",
such as fundamental news coming out soon, BBs
are still in the stock for the short-run, etc.
You will benefit if you truly understand and realise
the idea behind it.
Genting hit the major resistance level 2.18 as expected
but reverse down to close 2.09 As mentioned in yesterday
blog, it will now face resistance at 2.10 and 2.18 while
the support is at 2.04 and 1.97 Technically, the selling is
not over yet and may continue for the coming days.
Although I wish to see Genting below $2 again, but the
readers should note that this is a wild horse and it may
just spring up against all odds.
We will have a public holiday tomorrow and it is
likely we will have a cautious but firmer session today.
If you are not uncomfortable in taking positions in
such market sentiment today, then have a good break.
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
P.S.: Last week, I received a very encouraging email from
a reader, Harry Cho. After seeking his permission in producing
the email in the blog, I am glad to put his email here.
It is such email that propel me to continue to blog and
feel appreciated, and knowing that I am not creating
cyber rubbish. Thank you, Harry.
"Hello SL
After following you for a week, I have come to realise you are no ordinary blogger. You are an extraordinary blogger.
To use an analogy, it seems like I had been running around for some time trying to learn karate from a good teacher and some years later, I bump into a gentleman who has a black belt in karate.
I wonder what was your initial motivation to start the blog but it looks lke it comes from a good heart.
A thousand thanks for your amazing posts and guidance,
Harry""Hello SL
It is a pleasant surprise to receive your request.
Certainly, please go ahead if you feel you would like to publish my email on your blog. If you would like to include my name, it is fine with me as well.
My email was written in honest appreciation, after a week-long, highly objective evaluation.
I gradually became filled with astonishment that a heavyweight is writing the blog. And it is both for the education and benefit of retail players, the so-called dumb money.
Expressing a thousand thanks,
Harry"
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