Market View 7 January 2011

Wall Street closed mixed in overnight trade as
"Stocks slipped on Thursday as soft retail sales and
a sharp rise in the dollar left investors edgy a day before
December's U.S. employment report. Given a rise of
about 8 percent in the S&P 500 since the start of December,
investors could be looking for an excuse to sell stocks if the jobs
report falls short of forecasts that were raised after Wednesday's
strong private-sector payroll report."
Dow lost 26 points, S&P 500 down 3 points but Nasday
advanced 8 points.

The pennies and mid-caps continued the New Year rally
yesterday and many stocks came to life after a short
break. Some readers asked me on Skype on some
stocks that I really never tracked as they are the so-called
seasonal or news-sensitive stock which just spur to life and got
into the Top Volume or suddenly had some volume and
liquidity in the stock. I still prefer to stick to the stocks
that I know better. I know their chart pattern well, I know
its movement well, those are the stocks that I keep following
and mentioning in the blog. You can still ask me about the
relatively unknown stocks but I may not be able to give you
a good answer and can only provide you with what I see
purely from the chart.

Genting moved in a tight range yesterday and closed at 2.22
up 3 cts. It is moving in the range of 2.18-2.25 now and I
am still relatively bullish on it breaking the upside range with
next target at 2.33
GLP was mentioned by me that I will look at it pass 2.19 so
it is on my close-watch radar now. Take note of the 2.15 support
level if you are setting a trailing stop.

3 days ago, I stated in the blog that " 1. SinoGrandness (I see a
cup-with-handle pattern forming)", and indeed it broke out
yesterday and break the recent high of 44.5cts and look set
to test the historical high of 48.5cts. The broken resistance
of 44.5cts will now be a strong support for the stock which
is also a good sign of where the stock will be heading should
it breaches the support.


I still have readers asking me what are the tech stocks that
are worth a look-up. On 22 December blog, I gave a list of
"Techs stocks like Hi-P, Broadway, Sinotel, ECS, Trek, Innotek
and UMS." It is not an exhaustive list as I saw that Bright World
surged 5cts yesterday. I will give a more detailed list during
my market analysis.

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