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Friday, July 9, 2010

Market View 9 July 2010

Wall Street was up for a straight 3 days "as investors
were encouraged to see jobless claims fall and a handful
of large retailers report solid sales. Stocks have regained
their footing after a slew of poor data had raised fears of
a double-dip recession. But low market volume suggested
investors are still skeptical, and few expect to see a
sustained rally." Dow gained 121 points, S&P rose 10
points and Nasdaq added 16 points.

Many local penny stocks registered a price gain
yesterday and although I am cautious, I still managed
to nab a couple of them. I am not sure whether the
readers notice that although the stocks are rising,
most are still stuck in a tight trading range.
For example, Genting, it is still in the same range as
what I have mentioned for weeks. The main
profits come when a stock either breakout or breakdown,
I certainly don't like to be trading a tight-range stock
as the margin is not that impressive.

A few other stocks worth mentioning, YZJ support level
is at 1.32 and from what I see, the most it can get
from the current surge is 1.39 Sound Global like what
I mentioned before will move along 73.5cts level and 77cts
will be the next resistance. Cosco will have support at
1.45 and the most it can go will be 1.51
A few of the readers emailed and ask about PEC 's
surge yesterday. I can tell you that CIMB covered
it yesterday and give it a good target price. But to me,
it is still just mere price action, and this time round it will
hit resistance about 81.5cts with support at 76.5cts



I am still quite cautious about the market sentiment and
I will take profits along the way. The current surge is just
a rebound in my view, and I maintain the current view
until being proven otherwise and wrong.

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.

As usual,
Stay Alert but be Aggressive too.
Audentes Fortuna Juvat !!

市场生存座右铭: 风林火山

Thursday, July 8, 2010

Market View 8 July 2010

Finally , Wall Street managed to sustained a reasonable
rebound and closed on a high. "U.S. stocks logged their
best one-day gain in about six weeks on Wednesday after
a bullish forecast from financial company State Street Corp
fueled optimism about the coming earnings season and helped
the S&P 500 break above a major resistance level."
Dow surged 275 points, S&P 500 charged 32 points
and Nasdaq gained 66 points. Will the bullish sentiment last
or is this the last throw of the dice? We shall see the
real action revealed in the next few days.

Stocks will definitely open on a high note today but I
don't think it will last throughout the day. Stick with
the mentioned stocks on intra or contra trades and
have a cut and stop ready for any untoward circumstances
in the market.

Genting is still in its tight trading range but it is likely to
test the 1.22 resistance again. It is a good opportunity
to lock-in profits for any intra and contra trade that
you may have.
While scanning for stocks recently, I noticed a stock
Longcheer's movement, and I like its chart formation
so I am keeping close watch on it.



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.

As usual,
Stay Alert but be Aggressive too.
Audentes Fortuna Juvat !!

市场生存座右铭: 风林火山

Wednesday, July 7, 2010

Market View 7 July 2010

Wall Street finally ended in the green zone as
stocks "rebounded on Tuesday, but strong buying
interest evaporated in the afternoon as bearish
sentiment reasserted itself." Dow initially opened
brightly and went up as high as 172 points, but it
was just 昙花一现, and the gain evaporated
to even negative 27 points before closing the day
up 57 points. S&P 500 gained 5 points and
Nasdaq added 2 points. Look like the market is waiting
for the killer-blow to KO the already-fragile sentiment.

Most winner stocks rebounded yesterday together
with the regional market indexes and the US futures.
The trading volume was understandably low as the
stock trading are concentrated on handful of selected
stocks and transaction parties.

Genting is trading (threading) on a thin line as it is
in a tight 1.11-1.15-1.22 range now. It is easy to trade
this stock but the margin is not that impressive any more.
Some skype readers asked me about the reason behind
the recent surge? I can tell you 101 stories behind the surge
from what I heard, there are rumours that it is doing
a stock and rights placement, to it have just been covered
in a few foreign stock reports. But the main action is all
shown everyday in its daily and weekly charts.

Stocks will open weaker and it is a good time to
lock-in profits according to the trailing stop that
you should have set-up. Just hope that there will
be another pump-and-dump action again.

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.

As usual,
Stay Alert but be Aggressive too.
Audentes Fortuna Juvat !!

市场生存座右铭: 风林火山

Tuesday, July 6, 2010

Market View 6 July 2010

Wall Street was closed on Monday for Independence Day
and will resume trading. Looking at the futures now, it is
not going to be a pretty trading day tonight.

Some readers commented on Skype that the current market
is turning boring and the trading volume has shrunk.
It is true that the winner stocks are not as active and vibrant
as before, but there are still trading opportunities available.

Genting once again failed in its price advance yesterday
and closed at $1.15, the weak support level that I mentioned.
If the support is breached, then 1.11 will be the next target.
My view for Cosco and YZJ remains the same, but the only
slightly bright spot will be Sound Global. 

I will be cautious trading today as the US futures almost
certainly point to a ugly scene tonight, unless the sky turn
clearer as the day goes by. Stick to short-term play with
a view of taking profits and losses if the sentiment turns bad.

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.

As usual,
Stay Alert but be Aggressive too.
Audentes Fortuna Juvat !!

市场生存座右铭: 风林火山 

Monday, July 5, 2010

Market View 5 July 2010

Ok, I will go straight into the local market view today.
I believe that most readers are traders of Genting stock
and will realised that it closed badly in technical sense
last Friday. It hit a high of $1.21, one bid shy of my expected
resistance level and fell to close at $1.16 which is also day-low.
If the $1.15 support level is breached, then the next likely
price action is a test of of $1.11 support level. It will be very
bullish if it can test and break $1.21 again.

A few other technically negative stocks included YZJ and Cosco
having closed in a "tombstone", it will be interesting to see whether
it will move above the high of the tomb or continue to fall further.
Sound Global is pretty bullish in my view as long as it continue
to trade above the 73.5cts support.

Although my view of a reasonable market selldown is imminent,
I am still trading in the market with intra and contra-minded together
with a cut-loss and trailing stop.

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.

As usual,
Stay Alert but be Aggressive too.
Audentes Fortuna Juvat !!

市场生存座右铭: 风林火山 

 

Disclaimer:

Please be aware that I am not a Certified or Qualified Financial Adviser, the views and recommendation on this blog is purely my own.

Please seek investment/trading advices from your Financial Professionals, Dealers, Remisiers before making any investing/trading decisions.

I will not be responsible and liable for any losses incur from my views and recommendations in my blog.

Take note that I may have current positions or seek to enter or add positions in the stocks that I wrote in my blog.

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