Market View 19 November 2010

Wall Street rallied in overnight trade as
"Stocks jumped on Thursday on expectations
of a resolution of Ireland's banking crisis, but
the S&P 500's inability to break through resistance
suggests stocks could be in a tight range through
the end of the year." Dow surged 173 points,
S&P 500 added 18 points and Nasdaq gained 38 points.

After 2 days of trading, we got a holiday break
and after another 2 days of trading, we will have a
weekend break again. This is a pretty quiet trading
week for me as my trading activities are at a low.
If you think I can have my revenge today as US indexes
surged, then think again. Stocks will started off nicely
but I don't believe the strength can last till the closing bell.

Genting breached the 2.04 support line briefly yesterday
before staging a rebound and closed above at 2.05
It will have 2.04 as support again and failing so will
be facing the next support at below $2, that is 1.97
The nearest resistance is at 2.10 and the major resistance
will be at 2.18 It is likely Genting will surge today
but the strength may not be enough.

I have to say that the plantation stocks have a high chance
of staging a comeback as from the chart and sentiment,
they are still a good trading potential with their strength intact.
Take note that today is not the day to show-hand as
I foresee a much weaker closing. I may be wrong but
that is how I see.


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