Market View 24 February 2011

Our market continued to slide together with
the regional and US markets as well, but the
pennies and mid-cap are starting to recover
well from bottom.

Genting hit a day-low of 1.88 in early trading
yesterday morning but recovered strongly to close
above the support/resistance level of 1.97 at 1.98
It will swing along the 1.97 level while consolidating
toward the upside, in my view. Meaningful resistance
on top is of course 2.04

For those who are asking about the stock Sinograndness,
I will be very interested if it cover the small gap between
52.5-53cts with volume. To answer the comment made by
Daniel who asked "Do you know why the buying pick up
at the last 2 hours of trading today,for many stocks?",
this is quite normal market behaviour. As the market go
into a tailspin, market players, punters, bargain hunters
will be on a look-up for stocks that had been "unjustified"
sold down, and that was what happened yesterday.
Daniel also lost $800 on Sinograndness as stated in his
comment. I believe it is because his trailing stop was hit
but I can't comment whether this is the right move as he
may bought 10 lots and the cut-loss came when he was
8cts down 20 lots with 4cts loss. To be frank, such a loss
is quite normal in such a market sentiment, and it will be
a meaningful lesson learnt.

Another comment was about the O&M counters that
I mentioned yesterday. To just give a few example,
I like PEC, Ezra, Ezion, CSE....

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 

别人笑我太疯颠，我笑别人看不穿