Market View 28 July 2011

I mentioned that our market will succumb to
selling pressure pretty soon yesterday and
Uncle Sam delivered a strong blow in overnight
trade as the indexes suffered their worst day
in 8-weeks. Dow closed near to the day-low at
12303 or down 199 points. Nasdaq dropped
2.6% and S&P 500 lost 27 points or 2%.

Our market will definitely open weaker and it
will be a "red-lettered day" at the closing bell.
We have enjoyed a good recent run and I believe
that a slight break will be beneficial for the long run.

The main star for yesterday market action must
be Genting which surged 11cts to close at 1.92
with the day-high at 1.945 Once again, the resistance
level of 1.83 played a major role in yesterday surge.
I know of readers who went into the stock when
it broke the resistance in early morning and never
look back. The psychological support of 1.90 is thus
a major support now and Genting need to be above
this level to have a run at the 1.97 region resistance.

Many readers asked about the "future" of STX OSV.
I have no 100% correction expectation of the counter
now in view of the current market condition. Yesterday,
I mentioned that the the stock is at the peak of this
round of surge and a pullback is expected. It closed
the trade down 1.5cts In my view, the stock should
withdraw till the 1.50 level which is very normal given
that it has surged through the roof lately.

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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