Market View 22 July 2011

After coming back from holiday, I was
greeted with a gloomy picture in our stock
market by a few members. Fortunately,
Mr Market was kind to me and it was quite
a good run from Tuesday to Thursday with
many stocks charging up. Today is Friday,
and although Uncle Sam continued to surge
in overnight, I am not looking at a bright trading
day. Profit-taking will be the main "attraction"
of the day and it is very normal with many
sitting on decent profits on various stocks.

A few readers still asked about how Genting will
move in the coming days. I have to say again
that it is still in the 1.76-1.83 range and it is
likely to be range-bound in as many days.
I am not saying that it won't breakout either side
but I believe it to be that way in my way.
A break below the support level of 1.76 will be
disastrous again as it will likely dropped down
further to test the 1.70 support level. It is once
again in a cross-road and if any unfavourable
news, like its result or the greater economic
news disappoints, then we should see how
resilient it is against the odds.

STX OSV continues to break new height and
if you have put in money into the stock when
I strongly recommended during the 1.18-1.20
period, you are sitting on a 30% profits now.
My target is a 50% gain and that means that it
still have about 20% further upside. This is only
my personal expectation and although I am quite
bullish on the stock, I do have a trailing stop on the
counter as well. The current market sentiment
and condition is only suitable to do short-term
trades and taking profits along the way.

This is to the reader who wrote in the comment
asking for my view on Cosco : Can you either contact
me through Skype or email me for further discussion
as I can't give a detail view on the stock without
knowing your trading perspective.

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 

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