Market View 20 July 2011

In case that you are not aware, US market
surged through the roof in overnight trade.
Dow surged 1.63% or 202 points and Nasdaq
delivered an amazing 2.2% or 61 points gain
due mainly to the much-better-than-expectation
result from Apple.

Back to our market, how will we likely perform
today? We already pre-moved yesterday in
anticipation of a good night-out in US market.
Our market will open brightly but I don't believe
we will close as good as the opening.

A few members asked about the "Market Leaders"
that I mentioned yesterday. They represented the
leaders in each sector and they will be the first
to move up and down in reaction to the market
condition. For example, for the commodities,
Noble and Straits Asia will lead, and for the shipping,
Cosco and YZJ are among the leaders.
For the palm oil counters, I like to look at Indo Agri
and First Resources. The main leader stock
that I look at is Genting, which is like the market
leader for the mid-small caps. I hope that I have
answered the members' question well.

Genting is sitting on the cross-road now at 1.83
being an important support/resistance level.
It NEED to stay above this level in order to test
the next resistance at the psychological 1.90 mark.
Further downside pass the yesterday low of
1.81 will be disastrous and it will likely fall below
the 1.80 level to meet the next support at 1.76

Enter any position with a Cut-loss level & Trailing Stop,
and Please practice strict Money(Risk)-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