Market View 12 January 2011

Wall Street closed higher in overnight trade as
" The euro rose on Tuesday on speculation that
euro-zone officials could raise the effective lending
capacity of the bloc's rescue fund while a surge in
oil prices pushed U.S. energy stocks higher."
Dow up 34 points, S&P 500 added 5 points and
Nasdaq advanced 9 points.

Genting continued to be within the trading range
as there is no sign of it breaking the 2.25 now.
It will continue to test the resistance and I expect
it to go higher and higher as the CNY approaches.

Yesterday, I mentioned that "I believe that some pennies
may still have the strength to be up at this time, and I
specifically focus on Sinograndness, Sinotel and United Envirotech.
They are Ok on the chart, and I believe they will be the
punter's stock at this time."
Sinograndness and United Envirotech did surge yesterday
and I wonder how many readers actually benefited from
them. Sinograndness looks to be testing the historical high of
48.5cts today and should it break this major resistance, it should be
in the 50s very fast. United Envirotech is the so-called
punter's stock and looks to test the recent high of 52.5cts in due time.
I am still optimistic that Sinotel will run according to what
I see in the trusted chart.

The plantation stocks appeared to resume the upside
move again after a short break. First Resources will
first meet resistance at 1.57 then recent high 1.60
with support coming in at 1.49 Golden Agri as long as
it is above 77cts support will be looking to test the
82 resistance.

Watch out for the oil&gas stocks like Ezion, PEC
and CSE Global too.

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