Market View 5 August 2011

Wall Street suffered heavy losses in overnight
trade as the fears and worries of another
global recession sent stocks tumbling down.
Dow crashed 4.3% or 513 points to close at
11383, very near to the "magical" number that
I told a few readers who asked. Nasdaq plunged
5% and S&P 500 also down 4.8% I am sticking
my head with my next expectation but I believe
that the Dow will find very good support around
the 11350 level and it will be tested and tested
but don't ask me whether it will be broken.

With the Nikkei falling as much as 4% in early
trade, it is a certainty that  we will open deeply
in the red. I believe if there are greens in the
sea of reds later, then it will be a very "supported"
stock and I don't mind lending it more support.

If you ask me whether I am buying today, then the
answer will be a  resounding "YES" but I will be
cautious to go in rashly in any counter. I still like
STX OSV and the palm oil counters and believe
they will be the star winner after the storm had
blown pass.

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