Market View 4 November 2010

Wall Street continued to climb as "U.S. stocks
ended a volatile session modestly higher on
Wednesday after the Federal Reserve detailed
a plan to breathe new life into the struggling economy.
Both the Dow and Nasdaq closed at levels not seen
since 2008 while the S&P ended at a six-month high.
The gains were preceded by an erratic session in which
equities zigzagged up and down as the Fed announced a
plan to buy $600 billion in Treasuries. The size of the plan
was greater than had been anticipated but less than many hoped."
Dow gained 26 points, S&P 500 advanced 4 points
and Nasdaq rose 7 points.

Am I concern that a correction or sell-off may appear soon?
Yes, but I am prepared for it and I will continue
to be ready for any change of market action with
buying in the stocks that I am familiar and higher
winning percentage.

The plantation stocks continued to surge and it was
a pretty good run and I do know that a handful of
readers benefited heavily from them.
First Resources will face resistance at 1.38 and with
good support at 1.30 Golden Agri, like what I told many
readers at Skype has a target of 74cts before staging
another run-up. Well supported at 68cts.
The much smaller Kencana and Global Palm were
also seeing actions in their stock price but they will
track and trace their big brother's movement at most.

Sound Global is having a break now but further
upside resistance will be tested at 91cts and
supported at 85cts. CWT is still looking fine for
a test of $1. MIT will be on a run if it break 1.11
with strength and it appears that this will be the case.

Lastly, Genting is still below the resistance 2.26 although
it may test it again with range bound play between
2.18-2.26 now.
Today is the last trading day of the week and
profit-taking is well expected although it will be
a much contained one.

To all the readers: Happy Deepavali and Enjoy the
long weekend holiday.

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