Market View 2 December 2010

Wall Street rallied in overnight trade as the major
indexes posted the biggest gain in 3 months
Dow surged 250 points, S&P 500 gained 26 points
and Nasdaq advanced 51 points.

Stock will definitely open higher today but the question
is will it last till the end of the trading day?
I have my doubt whether it will be this way today but
for those Hot stocks, they will. Plantation stocks performed
very well even during last few days, so expect the momentum
to continue with Golden Agri and First Resources leading
the pack of Kencana and Global Palm. Recent IPO Mewah
is expected to have to hit bottom at 89cts and should be heading
toward initial resistance at 96cts and above the $1 mark when broken.

Genting will almost definitely surge pass the 2.04 resistance
today but how high can it go today? I am thinking that
the next 2.11 resistance is a strong one and its movement
will be capped for the time being. I mentioned yesterday that
I will be VERY interested with GLP if it break the 2.25 resistance
and I am still VERY interested today.

Take note that the bullish market sentiment may not last for
the whole day and it will be wise to implement a trailing stop
in case of any change to the wind  direction.
If you want to ask me whether the year-end rally has started,
I have to keep my mouth shut now and let Mr Market do all
the talking.

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