Market View 8 March 2012

It is International Women's Day today and
I would like to say that behind every successful
man, there really will be a or many women
that are always supporting and encouraging what
the man is doing. This blog has its pool of
women supporters too and I thank you for
your encouragement and kind words in the
emails and Skype message to me.
Take a well-deserved break today and paint
the town red, just don't make the index and
stocks red today if possible. 8-)

Ok, one woman Skype reader jokingly told me
that I still have the travel jinx intact with me and
she already expected that the market will fall
when I am away. Well, you can take it to be
purely coincidental or maybe it is really happening.
So should I go for more holidays or should I just
stay in the home ground this year?

Back to stocks.....
The main action yesterday lies with GLP and
STX OSV, this 2 die-die also won't die stocks.
STX OSV's recent high was 1.755 and I was
expecting a 10-12% pullback to at least 1.57-1.58
but it only hit a low of 1.59 and rebounded.
The next major resistance is of course the recent
high of 1.755 which I believe will be severely tested.
GLP if you read the news is because of its intention
to list in Japan this year. It will likely face the first
resistance around the 2.20 mark and then the
next one will be at 2.26
A few readers are still asking Genting, which I have
mentioned many times that the critical level is
at 1.57 Above that, it is bullish in the near-term while
a fall below the level will triggered a landslide to test
the next support at 1.50

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