Market continues its run to the 4th day, thanks to strong closing on Friday US market. US market will be closed for tonight. US manufacturing payrolls may begin showing steady increases as Japanese supply chains recover from March 11 earthquake. Asian stocks advance, boosted by a strong performance for Japan car makers and banks. Hong Kong stocks rise, with exporters gaining. However, Australia retail sales unexpectedly drop in May.
No short term trading
Mid term trading
Jardine C&C enter 40.70 SL 35.40 (trail at 40.66)
Stock recommendation
UOL—> Stock has been range trading since Jan 18 2011, creating a high of 5.09. Stock has been seen creating higher lows which may signify an imminent breakout and start a new trend. Good opportunity of riding higher after it manages to break through 5. Enter 5.01 SL 4.62
China Shenhua Energy (1088 HK) —> China Shenhua is a world-leading coal-based integrated energy company. Its main business includes production and sales of coal, railway and port transportation of coal-related materials, as well as power generation and sales. Stock is on upward momentum, trading close to 31 May 2011 high of 38.75. This stock is definitely on our watch list.
