Market View 4 July 2012

US market continues to march on with
further gains from the 3 major indices.
With the US market closed today for
holiday, how will our market and even
the regional react today?

I believe that when the cat is away, the
mice will come out and play. It is likely that
we will also be having a good trading day.
Yesterday, many of the mid-cap hit their
respective resistance level and some even
closed in the red. Well, I believe that they will
be re-testing the resistance again and I
have highlighted them in the blog yesterday.

A few palm oil stocks also surge through the
roof yesterday with First Resources gaining
10cts and closed at $2 and day-high of 2.02
Bumitama also added 5cts to close at 1.065
with a very healthy volume. I mentioned about
the palm oil counters last week and they continue
to be in the limelight before and after the listing
of their peer Felda listing in Malaysia.

We have another major powerhouse IPO from
Malaysia again, and it will be the third-biggest
one this year with IHH Healthcare. If the readers
noticed the surge of Biosensors yesterday, I believe
that there is a bit of spillover effect in the medical
stocks. I mentioned in blog that I am only interested
in Biosensors after it has passed the 1.18 mark,
and with its closing figure of 1.185 yesterday, it is
back into my radar again.

Next, we have China Minzhong, which I mentioned
yesterday that "looking at the chart formation,
a breakout of the current range looks favouable",
and indeed, it broke out and surge to a day-high
of 63cts before closing at 61.5cts. I believe that its
momentum is not over yet and further gain will be
seen when 64cts is taken out, with next resistance
staring at 69-70cts mark. Do take note that it need to
stay above 61cts for any upside potential.
I also highlighted YZJ yesterday 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." I continue to support
my view.

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