Market View 15 December 2010

Wall Street advanced in overnight trade as
"The Dow Jones Industrial Average closed at its
highest level since September 2008, lifted by better
than expected retail sales in November, but a dim
view of the pace of the economy's recovery from
the Federal Reserve led stocks to pare gains in the
final hour of trading." Dow advanced 48 points, S&P
500 gained 1 points and Nasdaq added 3 points.

It seems like the Santa Rally has started with the
pennies already but not the Blues yet. STI fell 5 points
yesterday but if you look at the Top Volume counters,
it was crowded with pennies on the run-up and recent IPOs.
Stocks like Sinotel having a delayed reaction to the news
days ago, and of course, the usual permanent resident
stocks like Genting and Golden Agri.

Genting is below the important 2.18 resistance again and
while I still believe it will be moving up, it is also good to
take a break for the time being. It may move sideways
and consolidate but the 2.18 will be tested again and again
with upward target seen initially at 2.26
Golden Agri hit  80cts yesterday but closed at 79cts up 1.5cts.
It also briefly stay on the support level of 77cts and proceed
to move up. I am with the idea that it will be in 80s with
82cts the nearest resistance and further upside can be seen
till 87cts level. All these targets are valid IF it stay above the
77cts support level.

Ezion and Swiber did not perform yesterday while Sound Global
added 1 cts at 83cts. Sound Global will be a changed-stock once
it surge pass the 83.5cts resistance level.
Yesterday morning, when Sinotel has just started the move, I told
a member at Skype that its target for this surge will be around
37-38cts region. It hit 37cts day-high and closed at 36.5cts. The region
will be tested again and the next resistance will be at 40cts if it
is broken through. A few readers asked for more stocks to look-out
for and have the potential to move on. From what I can see
in my watchlist, I believe that SinoGrandness and United Envirotech
is worth a good look.

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