Market View 19 July 2012

First thing first, my personal view on the JB Foods
IPO is out at Singapore IPO Lobang . The application
will close at 12pm today so if you are interested, you
have another 3 hours plus to apply for it.

Ok, now back to the market.
I was seriously expecting to see the STI in red
yesterday afternoon, but somehow late buying
lifted the index back in the positive territory up
about 2 points. It seems that there is an invisible
hand supporting the blues and the index along
the way. Some readers asked me how and where
did I see the index going? To be frank, although the
index is above the 3000 mark, and there are reports
that it is overbought, I do still see strength and good
support in the market. But like what I told many
readers, the week starting from 23th all the way to
the end of the month will be crucial in providing a
good direction as to how the market is likely to
behave and perform in the last few months of the
year. A lot of people said that the worse month of
the year is October as that is the month when the
great crashes happened. Actually base on some
figures, the worst performing month is actually August.
You can bring out the charts and make a comparison.

Yesterday I mentioned that Genting is like fallen knife
and "It has been making 52-week low again and again",
Guess what? It make another 52-week low yesterday
and closed at 1.31 Don't ask me when will it bottom-up.
It is going to consolidate for a while before any buying
strength will appear. At the moment, it can continue to
make fresh 52-week low and I won't be surprise at all.
The nearest support that I can see from the chart is at
the 1.29 region.
 
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