Market View 11 October 2011

Wall Street soar higher in overnight trade
with the major indexes finished more than
3% higher. Dow added 330 points or near
to 3%, Nasdaq gained 3.5% and S&P 500
advanced 3.4%. It look like we are in a
celebratory mood and we should pop the
champagne now or is this the real picture?

Our market will open higher and most stock
will stretch their recent gains further, but I believe
that we will open high and close much lower
today. Just my personal view.

For individual stocks, STX OSV will likely have
limited upside today and if its volume is
low then the possibility of a pullback will be high.
I mentioned that its resistance is at 1.06 yesterday
and its day-high was 1.055 just a single bid away.
It will open high today but watch for weakness to
settle in as the day goes by.

A reader asked me about the next resistance of
Genting, YZJ and Noble so I will just reply here.
Genting's next resistance will be at 1.63, YZJ will
be at 91cts and Noble will be at 1.46

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