Market View 29 December 2010

I will dive into local trading view for today since
I somehow missed my alarm but it's quite OK
as I have done all the homework the previous night.

Trading volume increased yesterday as positions were
taken up in anticipation of a good year-end rally and
a follow-through into the new year. I have also taken
positions in various counters but as what I told the
readers in Skype, it is more for short-mid period
and not necessarily for contra play. Those stocks
that I keep mentioning will be the main focus in
any rally, so if you have them and can hold them
for a while, you will be rewarded with good price
range play-up.

Genting surged past the 2.18 resistance level yesterday
and closed up 7cts at 2.19 My view is that it will
continue to move within the 2.18 level while
storing enough ammunition to launch another charge
toward the 2.25 next resistance level with 2.20
as the initial psychological resistance point. It has move
into the 2.11-2.18-2.25 region currently.

The palm oil counters also did well yesterday with First
Resources adding another 3cts to close at 1.56
The next resistance will be 1.60 and 1.63 with 1.51
as the nearest support level. Golden Agri also
up 2cts at 79.5cts after touching the 80cts mark.
I mentioned that the stocks will be in the 80s last week
and it indeed came true. It will next face 82cts resistance
first and 86cts next if the momentum continues.
Support level will be seen at 77cts

Last week, I mentioned a few Tech stocks and ECS was
one of them. It surged 5.5cts on a reasonably higher volume
after the news that it is going for a dual listing in Taiwan
emerged after the trading halt. From the chart, it is looking
toward the 87cts resistance level next and 92cts as the
major resistance. Watch out for Ezion as well and as long
as it is above the 68cts support, it should be able to move
toward the 74cts target.

The main thing to look for in the current market is Trading
Volume as shown in recent trading days.

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