Market View 3rd July 2012

Ok, market started Q3 with a bang closing
high in a volatile session. We have the STI
closing above 2900 again and plenty of mid-caps
performing very well.

The 3 Musketeers did superbly well yesterday,
with each posting gains toward their major
resistances. Noble up 4cts and will meet resistance
very soon at 1.16, Sakari after surging 8cts will
face the resistance straightaway at 1.45-1.46,
and Olam surged past the 1.88-1.89 resistance
to close at 1.90 It will be interesting to see whether
it can stay above the level for long.
Next, we also see some recent IPO in action.
Bumitama is just a stone-throw away from its
short historical high of 1.02 after closing at 1.015
yesterday. If you have been on skype with me,
you will know that I am pretty bullish with this
counter, and to me it is a permanent >$1 stock.

I will comment on one of my favourite stock STX OSV
next. The next resistance is also a step away at
1.57-1.58 after closing at 1.56 yesterday.
I expect the level to be tested and a breech above it
will propel the stock to the next resistance 1.63-1.64 level.
Some readers asked me about China Minzhong which
I recommended too. Basically, CMZ need to stay above
the 61cts level to have any meaningful and powerful
surges. It has been hovering within the current level
for some time, and looking at the chart formation,
a breakout of the current range looks favouable.
Another stock that has po-up in my radar is YZJ.
Its chart formation suggests that a breakout on the
upside will be imminent when it is near to the 1.04
resistance and a breech will see the next resistance
toward the 1.09-1.10 level.

Next week, we will see the close of 2 IPO application
which was presented yesterday. Neo Group will be closed
for application next Monday and the healthcare giant
IHH Healthcare's application will close on Wednesday.
We have another 2 cocoa ingredient processing companies
from Malaysia in the IPO pipeline too. Look like the 2nd
half of the year is going to be very busy for our money
and capital to profit from all these IPOs.

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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