Nasdaq - Be careful

Nasdaq closed with 9 points up at 2,684 a few hours ago, if I am right, there may be another one or two days of up to around 2,700 to complete the nano wave 2 before the starting of nano wave 3 of the mini wave iii. It means by next week it is possible that Nasdaq (Dow and S&P) may start to slide faster and I am sure the rest of the world will follow. I can be wrong, but be careful.

To get out at this level is still not that hurting, don't worry, be happy.





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Nasdaq - Neckline broken

Nasdaq dropped 36 points, 1.3% on Friday to close at 2737, which is about 13 points below the neckline of the 'Head and shoulders' formation, a bearish sign. Its next target is the March's closing low of 2616. A close below this level will provide further confirmation to downtrend. Dow and S&P should move in tandem with the Nasdaq.



I am expecting the dollar index to go below its last month low of 72.834 during its current slide.

A historical moment for China and for Asia.

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Roland Garros - Li Na Wins French Open Title

Li Na, the sixth seeded 29-year-old from Wuhan defeated Francesca Schiavone of Italy with a superb 7-0 tie-break, to win the first ever Grand Slam women's singles title for China.

The score, 6-4, 7-6(7/0).

She is also the first Asian women to win a Grand Slam title.



Those that watched the live telecast final, millions in China, saw for the first time the red flag of The People's Republic of China was flying when the national anthem, March of the Volunteers, was being played.



The celebration in China has started and it will continue until June 6 for the Dragon Boat Festival celebration
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Dow - Nothing has changed

US Dollar Index has started to slide again after its recent high of above 76.

For global markets, I prefer to maintain my bearish view.

I don't think I can write off the 'Head and Shoulders' for the Dow at this moment. For long-term chart where the range of the prices is great, I usually used the semi-logarithm scale.

After the 2007 October's high, the correction so far, Dow is either forming an A-B-C wave major 6 or it is forming an A-B-C-D-E, mega wave (IV).For either case, the next wave down should be wave C and it can easily last more than 18 months.

For Bursa Malaysia, the FBMKLCI composite index may appear to be bullish, but in the last few weeks, its uptrend was not confirmed by the Industrial Index, this is the first time since the December 2008 bottom.

Whenever there is a divergence between the Composite Index and the Industrial Index, based on my past observation, the Composite Index will finally follow the Industrial Index. It happened at the 1997 peak before the market crash; and it has also happened at the 2009 market bottom before the run up. One really has to be very careful about the current divergence.

My current monitoring is focused on the Nasdaq index, as long as the Nasdaq continues to have new low that is lower than the previous low and new high that is lower than the previous high, the down trend is intact. Ultimately it will trigger a panic sell off. It is currently at sub-wave iii of wave1, still a long way to go if I am right.

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Nasdaq - Watch out for possible 'Head and Shoulders'

US stocks closed about 2.2% down, rather sharp. Watch out for a small 'Head and shoulders' reversal pattern. It is possible that the journey to the South has already started since the peak in late April. This can be the mini wave iii of subwave 1 of the major down wave.

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The Foreign Experts

The protest at Hyatt Regency Kuantan this morning

Members of the IAEA International Expert Review Panel

Panel leader Dr Tero Varjoranta said the panel would "review the radiation safety aspects of the facility in relation to relevant international radiation safety standards and good practices."

Team Leader

Dr Tero Varjoranta (Finland)

Mr Varjoranta is the Director of the Division of Nuclear Fuel Cycle and Waste Technology at the IAEA Department of Nuclear Energy.

External Experts

Mr Jan van der Steen (Netherlands)

He is a subject-matter specialist in management, occupational and public/environmental radiation protection, regulatory aspects and education regarding Naturally Occurring Radioactive Material (NORM) issues.

Dr Leo M. Lowe (Canada)

A doctorate in Nuclear Physics from McMaster University, Dr Lowe is a senior health and environmental physicist at SENES Consultants

Dr P. M. Balagopala Pillai (India)

Dr. P. M. B. Pillai is a senior scientist at Bhabha Atomic Research Centre (BARC), where he was the Head of the Health Physics Unit, Indian Rare Earths Ltd plants in South India.

Dr Dennis Wymer (UK)

Dr Wymer holds a Ph. D in Mechanical Engineering from the Imperial College in the United Kingdom. He has worked for the IAEA from 1993 up to 2009 where he was in charge of the development of safety reports and training packages on radiation protection and radioactive waste management

Mr Ulric Schwela (Italy, Finland)

Mr Schwela is a subject matter expert on transportation of radioactive materials, works as the technical advisor to the Tantalum Niobium Study Centre in Belgium.

Internal (IAEA) Experts

Dr Magnus Vesterlind (Sweden)

Since September 2010, Dr Magnus Vesterlind is the Head of the Waste and Environmental Safety Section at the IAEA

Dr Horst Monken Fernandes (Brazil)

Dr Fernandes is a staff member of the IAEA’s Wastes Technology Section

The expected outcome from the experts
"The adopted operation procedures and safety measures followed international safety standard from A to Z"

"It is safe"
"No problem"

The same has been said in Bukit Merah


Highland Towers Certified safe by Engineers and Authorities
Design and Construction followed international codes and practices
from A to Z

It happened again

and again

and again

And AGAIN

Followed international codes
Sound Engineering practices

Authority procedures and Guidelines
From A to Z

It happened Again

Because Our life is cheap,
at least cheaper than the Australian
Rm 3.28 : A$1.00

Too Late !!!!!!

Fukushima nuclear plants, designed, constructed and operated in accordance to stringent safety rules and procedures and .............

It was said to be very very safe.
The Japanese Government has Guaranteed.
and........ "Oop I am Sorry"

"Act of God"

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Email from London - Trip to Liverpool

Dear Pap,

You are right with respect to Liverpool. The original plan was the Beatles Tour and then the Anfield.

On the Beatles tour, we visited their home, saw their school and had Coca-Cola at the Cavern where they used to perform. We also went to Penny Lane, where the shelter in the middle of the roundabout is still there, but no longer used as a shelter, the bank of the banker with a motorcar is now Lloyds Bank, and the barber showing photographs of every head that he has known is Tony Slavin.

Too bad that there is no more Fire Station. One would have thought that the Fire Station is the last thing to go, and expect the shelter to disappear first (since it is in the middle of a roundabout).

We also stopped by Strawberry Fields (forever..... yeah!!!)

Paul passes the shelter, bank and barber on everyday that he goes to school or something like that. Strawberry Field was an orphanage where John's uncle and auntie used to take him for fairs.

However, we later found out that there is a very good church that we should see, and so we went to the church instead of Anfield, since it is quite a distance away.

The surprising thing, however, was that there was a Tate Britain there and I actually saw 2 famous paintings by Picasso and Dali in the gallery. I certainly did not expect to see them in the first place.

Tate Liverpool - International Modern and Contemporary Art

I consider myself very fortunate to be able to see the paintings, in a quiet art gallery and put my nose inches away from the paintings.

Weeping Woman - Picasso
"Agony and grief"

The Weeping Woman, one of the very characteristic Picasso pieces after he started his cubist movement.

Autumn Cannibalism - Dali


Salvador Dali - a prominent Spanish Catalan Surrealist Painter

Autumn cannibalism is probably one of Dali's most famous paintings drawn in 1936.

( For interpretation on Autumn Cannibalism click : One Surrealist a day )

We had tea, very good strawberry cakes. Later we had a very nice dinner overlooking the docks. Then we took a train ride back.

It is nice to be away from London.

End of email.

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Joke

To show his gratitude to the eye-specialist that has restored his wife's vision, Picasso offered to paint a piece of his work on one of the walls in the eye-specialist's home. After two weeks of painting, the master piece was finally completed.

Staring at the master piece for a while, the eye-specialist whispered to his wife,"Thanks god I am not a Gynecologist."



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