Market View 21 October 2011

Market indeed pullback yesterday after days
of greens and most stocks closed in the red
down by a couple of percents. Some readers
asked me why the 10-15% retracement that I
gave yesterday and not like 8%,12% even 20%.
This is like a million dollar question that is also
interesting. Recently, stocks have been surging
through the roof as much as over 50% rebound
by some stocks in just a short time. To me, a
pullback of 10-15% in such circumstance is
reasonable. I don't just pluck the numbers out
from the air but this is what I observe in dealing with
as many stocks before.

Stocks will still be under selling pressure today
as like what I mentioned, the writing is already
on the wall from the traded volume previously.
Given that today is Friday, I believe we will still
be heading toward a weaker closing today.
I don't want to speculate on any stock target now
as I have already mentioned the 10-15% pullback.
Just do the maths on your selected stocks using
their recent highest price traded.
One more thing before I forgot, some readers asked
me why my watchlist yesterday never consists of stocks
like Keppel Corp, SGX, the Reits... I have to say again
that those are the stocks that I normally do my stock
trading on. I intra and contra trade on the stocks.

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