Market View 21 January 2011

Wall Street ended in the red as "Stocks fell on
Thursday as lackluster tech and materials earnings
failed to live up to heightened expectations, threatening
to short-circuit a seven-week run.Declines were milder
than on Wednesday, when a sharp drop pulled the market
off two-year highs." Dow were down marginally 2 points,
S&P 500 fell 2 points and Nasdaq lost 21 points.

Yesterday, my watchlist were a pool of reds as the
market went in a selling mode. Some readers asked
whether the worst is yet to come. I replied them that
this is merely a profit-taking session on any excuse
that had just surfaced, and in this case, it is the
China inflationary worries and it may tighten its
monetary policy further. This is just like fried rice
being fried and fried again and again in as many times
until nothing to be fried anymore.
That is market for you.

If you are concern about Genting, the range that I
kept mentioned is still intact and that is 2.11-2.18-2.25
range, with breaking of either side signify a change of
mood, sentiment and direction of the stock.
It closed at 2.16 yesterday which I believe it will
re-test the resistance 2.18 more than the downside
support at 2.11

Yesterday, the 2 stocks that I mentioned for the past
2 days were somehow in the green. United Envirotech
were in the green or neutral for most of the day until
the final hour of the day when it succumbed to selling
pressure. Dukang was mentioned in yesterday's blog
and its trading was halt at mid-day pending announcement.
The news was that its listing on the Taiwan exchange
was approved and they are doing the book-building now.
I can only say that this is a good fundamental news
announced on a wrong timing. How will the stock fare
now? I believe it will still do fine but let's see how
the market react to it at such time.


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