Market View 16 December 2010

Wall Street ended in the red on late market sell-off as
"U.S. stocks ended lower Wednesday after inflationary
concerns voiced in the bond market helped put a halt to
the S&P 500 Index’s six straight sessions of gains."
Dow lost 19 points, S&P 500 down 6 points and
Nasdaq lost 10 points.


Yesterday afternoon after the lunch break, stocks started
to fall and the pool of reds appeared in many watchlist.
I received inquiries about the reason to the sell-off to
which I replied as normal profit-taking by the funds
and/or traders who have gained from the recent gains
in many stocks. Later, it will revealed that the selling
got something to do with the China policy. I still view
this as a profit-taking and any news now just act as
a catalyst to any selling.


Genting fell to day-low 2.11 and managed to close at
2.13 still way below the 2.18 resistance level. It need to
be able to hold above 2.10 for any upward surge to test
the resistance level again or face the selling toward to the
2.05 level next. Golden Agri closed at the support/resistance
level of 77cts exactly and it will be interesting to see which
way it will now move. I believe it will have heavy downside
selling and will be supported next by 73cts.

A rather interesting stock is Sound Global as it closed in the
green while other were bleeding. I like such a stock and
will pay great attention to it if it continue to surge although
the odds are stack against it in such a market condition now.
First Resources will have support at 1.44 and should this
level be breached, the next support will be 1.40 but I have
a feeling that I won't see such level.

Expect a volatile session with market trending in both
direction waiting to settle down and proceed with the
year-end rally in my opinion.


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