The Dow Bungee Jump.

Asian markets fell today in line with their American peers. It was one of those nerve-wracking days on Wall Street where just about everything got hit - and hit hard.There were concerns about the fallout from the housing market's severe downturn.

Washington Mutual (WM 20.04, -4.19) was at the epicenter of the concerns after being accused by the New York Attorney General of pressuring real estate appraisers to inflate the value of their appraisals.

Government sponsored lenders,Fannie Mae (FNM 49.79, -5.60) and Freddie Mac (FRE 45.13, -4.26) were subpoenaed in this matter as the Attorney General is seeking information on the mortgages they bought from Washington Mutual and other banks.
The word "collusion" was used by the New York Attorney General-Andrew Cuomo, which rattled investors who didn't like the implication of widespread fraud.

Meanwhile,the USD tumbled against the Japanese Yen to a low of 112.24.Unless the Dow Index recovers in the next few days,the USD will be heading southward.

On the commodity front,Malaysian Crude Palm-oil futures touches the high of RM3,000 (MYR1.00=USD3.330) while crude oil futures also breaches its peak to USD98.00 per barrel.

Tracking the Dow Movement on Wednesday 7/10/07

The Dow opens GAP-down 14.22 points from yesterday's close of 13,660.94.General Motors,the world's largest automaker reported a mortgage related losses of USD39billion writedown.A huge dent in their bottom line.There seems to be no panic selling but a systematic sell down.The trading day ended with a four legged doji.(ie:open,close,high,& low price are all the same.)Forming at the bottom means there'll be a slight recovery or technical rebound.

This crash must be pre-planned judging from the

past few days candlestick where they hold near the MAV line.The earlier warning was on Thursday.Maybe the market-makers have already the news leakage about GM reported write-downs before it got filtered and go to the press. The number 7,is a no good day.On the 27/07/07 was the big crash.In mandarin "qi"=go away while cantonese"jat"=finish-off.Also Flight 77 that crash into the Pentagon on Sept 11.

Tracking the Shanghai Stock Exchange Composite on.

It's the biggest one-day decline in four months today 8/10/07.
The benchmark Shanghai Composite Index lost 4.9 percent, or 271.76 points, to 5,330.02. It was the index's largest one-day decline since Jul. 5, when it fell 5.3 percent.
The markets fell in line with declines overnight in America.American Depositary Receipts, or ADRs, of large Chinese companies traded in New York amid a broad sell-off on Wall Street.
The drop shows how China's still largely insular market is becoming increasingly linked to overseas markets, despite limits on foreign investment in mainland shares and on overseas stock purchases by Chinese.
It has broken the first Bullish pivot line of 5,558.76.Could it be heading downward towards the trend line with the main PIVOT support at 5,053.48.The Chinese investors have to be cautious as the government officials are trying to slow down an overheated stock market and it has been on the downtrend for the last one-week I've monitored.It will be a silent correction to prevent shock and unrest to the fellow investors.
China's stock market pundits are all newbies who have never experienced how a bubble crash is like.No one market is being insulated by other markets that are in a doldrum.Afterall it's a global market of interdependence.