Market View 1December 2010

Wall Street closed in the red again as "worries over
European sovereign debt overshadowed some better
U.S. economic data." Dow lost 46 points, S&P 500
fell 7 points and Nasdaq lost 27 points.

Today is the first trading day of December, the last
trading month of the year. A few readers have been asking
whether I foresee a year-end rally, or Capricorn effect (rally)
as it was called. The market had went up pretty nicely this
year but I still believe we will see one coming in the
coming weeks although the scale may not be that powerful.
If the Euro PIGS crisis worsen and/or the mad old man
in North Korea trying to tell the world that he is alive
by showing what he has in his military arsenal, then it will
derail any decent incoming rally. Nonetheless, we should
still have a presentable year-end window-dressing, in my opinion.

Genting is currently being caught in a trading range of 1.97-2.04
and any breakout of either side will push it to the recent high and
low. Next support at 1.90 and resistance at 2.11
GLP, as expected in blog yesterday, hit the 2.25 resistance head-on
and reversed to close 2.22 I will be VERY interested if it surge
pass the resistance again. Next support at 2.19

The plantation stocks never really moved much yesterday
but I don't see their trend dropping either. Refer to my previous
posts for their resistance and support level.

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