Market View 17 December 2010

Wall Street ended higher as "U.S. stocks ended
higher Thursday after fresh U.S. economic reports
fueled optimism and shipping giant FedEx Corp.
offered a brighter forecast." Dow gained 42 points,
S&P 500 added 8 points and Nasdaq advanced 20 points.


Quite a handful of stocks dropped below their support
level yesterday and it will be interesting to see whether
they can re-test it today or next week. Somehow I believe
that the last few trading week of the year is going to be
that quiet as portrayed by the newspapers or some analysts.
It is going to be exciting throughout and not as boring as
expected.

Recent IPOs are likely continue to be chased after but one
really need to see what you are getting into. It is just purely
rotational play and when the music stops, we will see who
is the last one holding the baby. For the winner stocks that I
kept mentioning, Golden Agri dropped below the 77cts support
level to close at 76.5cts. It is going to be re-test that level and
if selling continues, the next meaningful support will be at 73cts.

Genting slided to close at 2.09 below the 2.10 support level and
the same as Golden Agri, it will definitely re-test the level again.
The next support level will be at 2.04
From what I can see, many retailers and traders alike may have
been stuck at high level of certain stocks. If and when the
selling worsen, it will triggered a more "exciting" selloff and
I believe it is a good time to pick up some Christmas bargains
when available.

It is going to be a quiet session today looking at the lack
of push-factor. If you don't want to participate in the market,
then take a early break and head to the Bookfest 2010.
From the feedback that I got from associates and friends,
there are quite a selection and variety of books from multiple
publishers, so head to there if you don't want anything to do
with Mr Market today.

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