Market View 24 August 2011

US market surged in overnight trade with the
Dow posting a 3% gain or 322 points, Nasdaq
also added 4.3% and S&P 500 gained 3.4%
Mr Bernanke will be making a key speech this
Friday and it seems like the market is having a
pre-major announcement rally right now.

Our market also performed very well yesterday
in anticipation of a strong performance in Wall
Street overnight. Many stocks surged through
the roof only to be brought back a couple of bids
before the closing bell.

Some readers want to know whether STX OSV
is still a Buy at this stage. I have been mentioning
this counter for a while now and my name is almost
synonym with STX OSV. I even sticked out my head
and give a 50% projection from the 1.1x price I bought
at which is about 1.70 with my target price. I continue
to like the stock but at this time, the stock had moved
about 30cts from the low and it should consolidate
or have a slight move-up to the next resistance around
the 1.46 level. It will have good supports in the 1.3x
and thus will be a good time to pick up the stock.
Do take note that Never fall in love with a stock, and
always have a trailing stop and cut-loss in place.

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