Market View 22 June 2012

It was a pool of reds in my watchlist except for
a few "abnormalities" like Ezion and Indo Agri
who survived the onslaught head-on. It seems
that we know there will be a sell-down in the
US market that we pre-dropped beforehand.
Indeed, there is an Operation "Twister" in US
yesterday and the major indexes suffered great
losses of 2% and more. If you ask me about the
selling, I will tell you that this is just a normal
profit-taking from the recent gains and I am glad
that some stocks have fallen hard from grace
and they are in my radar once again. You can't
expect the market to go up in an unachievable
exponential straight line and maintain that way.
Always embrace such a selling as another good
market-making opportunities that is presented
to you on a golden plate. Thank you, I will take it.

Some readers asked me about the 3 musketeers,
Olam, Noble and Sakari's prospect right now.
I have to say that Olam is just plainly "suay" to
have the CFO leaving at this time. Market players
are just taking it as an excuse to sell and take
profits from its excellent gains recently. Noble and
Sakari also suffered the wrath of the selling.
In my view, the 3 stocks are still worth a buy and
if there is further selling, that is equivalent to more
potential upside ahead. The next meaningful support
for Olam if 1.80 breaks, is around the 176-177 level
and it will be a highly-contested rush at this stage
to grab the stock should it be battered to this level.
If Olam can stay above the 188-189 level then it will
be out of the woods very soon. Look for Olam's direction
as that will likely determine the rest of the 2 stocks'
movement as well.     

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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