Some headlines

So, QE3 not recommended.

If he is right, those holding 10 to 30 years treasury bond will be in big trouble as the dollars they will get in the future will be worth a lot less.



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Hong Kong Hang Seng Index

My wave count for Hang Seng Index is rather bearish.


From October 2007 peak to March 2009 low, there are 5 waves, the low can either be wave A or wave 1. Since the rebound until November 2010 high has a magnitude to big to be wave 2, it is more likely that it is B.


Since November 2010, Hang Seng has been moving in a down trend channel with high lower than the previous high and low lower than the previous low (Dow Theory). My wave count is as shown above. Hang Seng is expected to break its short-term lower support very soon.

However, if the index breakout of its upper resistance line, then I will have to look at it differently.

Despite of all the bad news, world bourses were able to move higher in the last few days including today.

The only reason that I can think of is the excessive liquidity in the markets. I won't be surprised that many nations might have followed the foot step of the US government in excessive money printing. They can keep on printing and pushing the stocks and commodities, the bubble will become bigger and bigger and when it burst, it is going to be worst than the 2007/2009 bear.


The following article written by Toby Connor published yesterday is rather bearish.

Click the following to read.

End Game



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Residences of VIPs

My friend emailed to me the following.

Lee Kuan Yew

He is staying in this 1940's house

With simple basic furniture

Warren Buffet

A 5-room house built in 1921
He purchased it in 1958 for US$31,500.00

and has been staying in this house

in the last 53 years


Abdul Taib Mahmud
Sarawak Chief Minister

One of his many residences


Dr. Mohamad Khir Toyo
Ex-Chief Minister of Selangor

Some said it worth Rm 24 millions

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Singapore STI - Mega wave C

Singapore STI gained 47 points or 1.6% at the close today, one of those technical rebound as it headed South forming a mini wave ii of its sub-wave (iii) of wave 3 of major wave (I) of mega wave C.

The next wave down after forming its mini wave ii will be the dynamic mini wave iii of (iii) of 3 of (I), it has to be a sharp one in its next wave down.



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Dow - It will continue to go South

The last two days of rebound is likely to be technical in nature, I expect Dow to continue to move lower in the coming week. Wave (i) of major wave (1) of C may reach a low of 11,000.

Negative Factors

With the escalation of war in Libya, the unrest in other parts of North Africa and Middle East, the Japanese Fukushima nuclear plants crisis, Portugal on edge of financial collapse, high commodity prices, high food prices, high unemployment rate, etc etc etc, I see no reason why Dow is not in its journey to complete the big wave C.


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Fukushima's Heroes

From thesun.co.uk

The wrecked nuclear plant.

Heroes go to work

The 180 workers risk death from massive radiation poisoning as they struggle to contain the crisis at Fukushima nuclear plants.

They are working round the clock to stop the wrecked nuclear reactor from over-heating by bringing water to the reactor.

Nuclear experts have said the men are essentially sacrificing their lives by staying at the plant.


Courtesy of thesun.co.uk
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The Draws - UEFA Champions League 2010/11

This is the ball for the final by Adidas

Bad luck for the British, Chelsea has to face Manchester United at this quarterfinal stage. Jose Mourinho's Real Madrid is able to avoid another Spanish team Barcelona at this stage. However if both the teams are able to proceed to semifinal, they will have to face each other for a place in the final at Wembley.

Jose Mourinho

Benzema's goal against Lyon

Real Madrid managed to beat Lyon 3-1 last Wednesday to qualify for this quarterfinal after a lapse of 7 years, they last won the cup in 2002.

Last year Mourinho was able to lead Inter-Milan to win 3 titles, the Coppa Italia, Serie A and the FIFA Champions League that they last won in 1965. If Real Madrid can win the Champions League in Wembley, then Mourinho is really "The Special One".


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