Another Black Friday.

It's another horrified trading day at Wall Street on this special Friday Leap Year Day.Stocks were being hammered by economic fears again.Now that worries about the financial sector are back, there is also "nervousness about what impact the recent slide in the dollar and sharp rise in commodities -- including a jump in crude oil prices to $103 a barrel -- will have on the economy.
The mortgage crisis and resulting credit crunch are likely to have a big negative impact on economic growth over the coming year, trimming GDP growth.Continued recession fears due to a weak GDP number, increased jobless claims and inflation fears, and as comments from Federal Reserve Chairman Bernanke and President Bush did little to relieve recession fears.
The financial turmoil was compounded late in Friday's session when JPMorgan, Wells Fargo, and Sallie Mae all went public with bad news. JPMorgan said it could see $450 million in first-quarter home equity losses, Wells Fargo has exposure to SIVs worth $1 billion through its money funds, and Sallie Mae was dealt a subpoena Feb. 11 by the NY Attorney General over one of its tuition products.
Friday's downward spiral was lead by credit losses from AIG, concerns over the Ambac (ABK) bailout, a slumping housing market, record oil, and Wilbur Ross' $1B investment in Assured Guaranty was not enough to change the course of the markets.
The opening bell sees the bear firing their shorties within seconds which by right is a big-gap down.Then onwards it continues right to the closing bell where the bulls and bears are having a tug of war as seen by the many doji stars along the way.The closing was a white doji spinning with a longger upper shadow outside the white candlestick body reflecting that it's poised for a rebound.
The leaping frog has jumped into a wrong pool which turns out to be a hot-soup.
The two bearish unshaven top black bearish candlestick has wiped off totally this week gains.
Friday's candlestick has penetrated slightly the February bear main pivot and is resting slightly above it.It's showing sign of remaining in the bear county.
Investors around the world will be watching the outcome of this weekend's Russian presidential election. First Deputy Prime Minister Dmitry Medvedev, endorsed by outgoing President Vladimir Putin, is expected to win.
In U.S. politics, Tuesday is the big day as voters head to polls for presidential primary votes in Texas, Ohio, Rhode Island and Vermont.

Blue Tango.

The market blues from the couple of bad news from the disappointing report from Home Depot was one of the excuses the market could have sparked another sell off. Tuesday's economic releases provided plenty of excuses too.The Producer Price Index data were worse than expected Participants had already digested the CPI data for January, so it wasn't entirely surprising.
The Dow's early decline was outperformed and overshadowed by IBM (IBM 113.06, +2.98) who gave the Average a 25 point boost.It's a blue tango on Wall street.IBM’s recent $15 billion authorization brings its repurchase program to roughly $15.4 billion. The company also raised its full year earnings per share expectation to at least $8.25, marking 16% year-over-year growth.

Tracking the Dow on Tuesday,26/02/08

Shares had slipped in the morning after reports showed spiking wholesale inflation, weakening consumer confidence and more problems for the housing market.

But investors ultimately looked past the negative economic data after blue chip IBM announced its shares buy-back.

The Dow has now surpassed the Bear Resistance pivot and will attempt to leap towards the main pivot point as we are two more days for the leap-year month.At the closing bell was a bullish candlestick recovering from the shorters with a small graveyard doji at its wick.The follow through might be weak and may test its upside strength again.

Wall street is having a quantum leap to celebrate this month's February 29 Leap Year Day.Seems that the market-makers have cleverly fine-tune this theme play in their agendas despite all the rotten economic news in the market.

Leap Year Explained

No mood for striptease show.

The bond insurance crisis has worsened. Banks and securities firms may have to sock away billions of dollars more in reserves.
Moody's Investor Services estimates that about 20 different financial institutions have about about $120 billion worth of credit default swaps on asset-backed collateralized debt obligations guaranteed with different bond insurers.
If bond insurers like Ambac (ABK) and MBIA (MBI) were stripped of their 'AAA' rating, that could spark the next wave of writedowns at the nation's largest financial firms.
Credit rating agencies Moody's and Standard & Poor's have threatened to downgrade the firms on fears they do not have the ability to pay claims on mortgage-backed securities that soured as a result of the credit crisis.
But Monday's market was a blessing in disguise when Mr Moody has no mood to strip naked Ambac of its 'AAA' ratings as it could reach an agreement today with a group of banks on a plan to raise capital to shore up its business.
Tracking the Dow on Monday,25/02/08


The trading day got a big spike when S&P reiterated its top-tier rating on Ambac, although it kept the company on its credit watch list. S&P also removed rival MBIA from its credit watch list.These news have saved insurers stocks from losing its pants and strip naked down.
Unfortunately near the closing bell,two hangman dojis were seen near the morning star.It's going to be hammered down in the follow through session---Profit-taking.

The long upper shadow (A) has been lighted by a bright new candlestick (B).If profit taking were to prevail it probably will return back to the tip of the graveyard doji (A).The overall phase is still under consolidation.

Friday's Bull Stunt.

There was no major economic reports nor corporate earnings reports on Friday but this time around the killer instituitions cooked up fears again.They might be planning to complete the Dow's charting technicals of the inverted Head and Shoulders pattern.So the Dow's undercurrent beneath the surface still have three distinct waves to form. The unpalatable combination of a looming US recession and burgeoning inflationary pressures and the credit crisis are the three strong under-currents waves swallowing the mighty ships in the ocean.
A plan to bail out the struggling bond insurer saved the Dow from being whipped-lashed throughout the trading day on Friday.A last 45-minute before the closing bell did the last minute penalty score for the wall-street bulls.
The market was led upward by financial stocks AMBAC Financial Group Inc Quote Chart News Profile Add to Watchlist[ABK 10.71 1.48 (+16.03%) ]
Report that progress is being made on a recapitalization plan that could save troubled bond insurer Ambac Financial's triple-A rating. The insurer essentially needs a credit rating of "AAA" to book new business.It will probably need to raise about $3.5 billion to maintain its "AAA" rating from Moody's Investors Service and Standard & Poor's. Fitch Ratings has already downgraded the company.
Next week Economic News: -from Action Economics.
Earnings:- Home Depot and Target on Tues- Toll Brothers on Wed- Sprint,AIG, Dell on Thurs- Berkshire Hathaway on Fri
Tracking the Dow on Friday,22/02/08.
AMBAC-The stuntman of wall-street bulls scored the hattrick in the last 45-minute before the bell.
But the ball got stuck on the net-A DOJI-an indecision result play at the closing.
Is the referee calling off this foul play again?


A week of extreme volatility,big swing and hip-hopping.One moment in tears and another providing comfort all this under disguise.The market makers create confusion,a bull-trap and then a bear-trap.
Again Friday's candlestick has a long bearish shadow beneath its body.It's a venomous tail of a killer bee waiting to sting again at an opportune time.

Fuelling Inflation.

The Fed’s minutes to its January policy meetings showed heightened concerns over the economy, and policymakers said downside risks remain even after the 50 basis-point easing on Jan. 31. Board members noted that the data seen since December was "decidedly downbeat on balance". Fed officials believed that a fiscal stimulus package would support growth in the second half of the year, but some said it might not help in the near-term, when downturn risks are the largest. The minutes also said that the inflation data was also "disappointing."
The headline CPI is now 4.3% higher than a year ago, up from a 4.1% year-over-year pace in December, while the core inflation rate year-over-year rose from 2.4% to 2.5% in January.
Tracking Dow Jones on Wednesday,20/02/08.
Stocks languished in the early-going amid concerns about credit market liquidity and a worse-than-expected January CPI report, but eventually turned things around and advanced in the afternoon trade.
After digesting the economic data, the stock
market found a bullish stride that was helped along by the outperformance of the financial and technology sectors.
The bulls are in full control today and ended the day with a bullish marubozu candlestick.Looks like they are continuing the turbo charge fuel salvo.
Thursday brings economic news on jobless claims, leading economic indicators, manufacturing in the Philadelphia region and weekly oil inventories.
The market makers are taking everyone on a hip-hop trading sessions.On Tuesday, rallying in the early-going and then selling off into the close. On Wednesday it was just the opposite.
The candlestick has a long tail shadow beneath it for further range play being reserve for bad news again.

Oily spill at Wall street.

A broad-based rally in commodities such as oil , metals and agricultural products siphoned off interest from equities. It's very worrisome as this will exert further inflationary pressure.
Oil prices extended their four-day rally on deepening supply concerns after Alon USA's Big Spring refinery in Texas was shut down by a fire on Monday. Then, just before 2:30 p.m. ET, the March crude futures contract touched $100 per barrel for the third time in less than two months, settling at $100.01. The immediate catalyst was reported to be threats of violence by Nigerian rebels that could interrupt production at a time when traders fear OPEC may decide to cut output at its next meeting on March 5.
It's again a day for those commodity traders and hedge-funds managers to capitalise on an extended weekend holiday with no impending economic news to pull a double-barrel trigger to smear the street with grease and oil-spill.
It's a grease lightning strike on the trading floor and stocks got skidded with no help from the hydraulic braking system.It's being overdone.US petroleum stocks inventory is very sufficient.
Tracking the Dow On Tuesday,19/02.08.
Wall Street gave up a big early advance and closed mixed.
Soaring oil prices could bring more problems for consumers, having already made many Americans shy about spending in recent months.
It's a very slippery day ending the day's session with a half-heartedly technical rebound.
It's another week of cleaning up of the financial sectors mess.The graveyard doji might try to complete last Tuesday's candlestick pattern.It also has a very great option of lighting up the long bullish upper shadow of today's candlestick.

Asian indices sightings.

Tracking the Shanghai Stock Exchange Composite Index of CHINA
The Beijing's 2008 Olympic Sports are just in the horizon of August 8th.
China's stock market is beginning to bounce as it has touched the Main Pivot.The olympic theme play euphoria might help to sustain its level but there's one major obstacle---China needs further rate hikes.
Inside China:
Tsinghua Science Park , known as "China's Silicon Valley",lies in the core of Beijing's Zhongguancun area.(Sillicon Valley - ZhongGuanCun - Tsinghua Science Park)
Tsinghua University lies in the north, Peking University in the west, and the northwest section of the 4th Ring Road in the south. It is also close to The Summer Palace, and overlooks the distant Yuquan Hill.
Tracking Hang Seng Index of Hong Kong.
The mjor indices are hoovering between the main pivot and bear pivot zone.
The bullish harami seen should be able to lift it towards the Main Pivot shortly in line with the Dow jones index chart.They are following their American peers.It has comfortably found its bottom and consolidating.
http://www.hkex.com.hk/


Tracking Nikkei 225 of Japan.
Japan's Bubble Economy has gone beyond the Main Bear Pivot and has bottomed out.The bullish reversal harami at this consolidation phase has set the platform for a rebound.Seems that they are at the tail end of a recession.
Former Fed of US ,Allan Greenspan also mentioned that the US is at the "EDGE"of a recession.So the hints is recesssion has and due for completion.

Oriental Asia Hottest HYIPs.

A High-Yield Investment Program (HYIP) is a type of scam.It was used to refer to an investment program which may have offered a high return on investment. The term "HYIP" was abused by the operators of scams to camouflage their scams as legitimate investments. Due to this overuse by scammers, HYIP has almost become synonymous with Scam or Ponzi.

They are sometimes presented with some form of an emotional appeal, appeals for faith, and promises that they will help investors achieve financial freedom.

HYIPs typically offer a significant incentive commission (for example, 9% of invested funds) for members to attract and refer new investors.In such "games", the first participants ("investors") may make a good profit and are encouraged to refer other people to the program because of referral commission, the fact that they have already made back their principal and are playing with profit, and that the more people who deposit money, the more money can be paid out to participants.

HYIP owners can manipulate monitors and forums, by paying people to comment positively or by using a range of IP addresses or proxy servers in different locations so that "paying" votes appear to come from around the world. This allows the HYIP to rise up the rankings.

This is the logo of Asia's latest hottest investment using Multi-Level-Marketing (MLM) as the front.

It's The Sunshine Empire Alliance Group.

The origin and homebase is at No;490 Lor 6 Toa Payoh #07-10 Singapore 310490.Tel: +65 64114650Fax: +65 64114654

Branches in Asia are as follows:-Malaysia ,Indonesia ,HongKong,Thailand,Taiwan and Korea.
http://www.sunshine-empire.com/

Photo courtesy of Lorna Tan
Wed, Nov 07, 2007The Straits Times,Singapore.

The Chairman and Founder of Empire Group Alliance (EGA). MR James Phang aged 48

About six years ago,1,000 Singaporeans lost about $2 million in total linked to a failed investment scheme paying up to $3,800 each to become members of an Indonesian country club, PT Magic Kingdom Island Resort Paradise.The resort was to have been developed on a 200-ha piece of land in Rempang, which is linked to Batam by bridge, and promised a hotel, chalets, a golf course and even a 1,000-sq-m shopping mall.

Mr Phang is adviser to Sunshine and founder of Empire Group Alliance, of which Sunshine is an associate.
(source: news.asiaone.com )

Photo courtesy of Lorna Tan
Wed, Oct 24, 2007 The Straits Times Singapore.

'I'm a legend - better than Warren Buffett'

http://www.asiaone.com/News/The+Straits+Times/Story/A1Story20071024-31825.html

Sunshine has attracted the attention of the authorities as its activities appear to be like a pure investment scheme - but it is not licensed for such operations. http://hk.youtube.com/watch?v=xz_WxckHVME&feature=related

INVESTOR ALERT & BLACKLISTED in the following countries:-

1.) Singapore-Monetary Authority of Singapore

2.) Malaysia-The Securities Commission of Malaysia

3.) Indonesia-Bapepam-LK

http://asia.news.yahoo.com/071113/5/singapore311286.html

http://www.youtube.com/watch?v=1XDAguyZteI&feature=related

FORUMS:

http://www.sgforums.com/forums/14/topics/250446

http://groups.google.com/group/studiot/msg/4b97e7652e372a41

Recession Myth

The National Bureau of Economic Research (NBER), the official arbiter of such things, will tell us exactly when we entered a recession. The bad news: By the time the bureau informs us, we will have been in recession for several months.
A recession, by one common, shorthand definition, is two consecutive quarters (or more) of declining gross domestic product, adjusted for inflation. By that definition, we're not there now. According to the most recent estimates, GDP grew at an anemic annual rate of 0.6% in the last three months of 2007. But we could still be in recession.
How so? Because the most recent GDP estimate is just that — an estimate. The figures that go into the complex GDP calculation arrive slowly, and they're often revised later. Data from the first quarter of 2008 won't be available in preliminary form until the end of April. In theory, we could already be in recession.
The NBER, a private non-profit group, has a Business Cycle Dating Committee, which has nothing to do with unmarried economists. Its job is to pinpoint when a recession starts and when it ends. You can see the official recession dates at its website: nber.org. (The 1873 recession was a corker.)
It can take a long time for the bureau to declare a recession. It declared the last recession in November 2001 — exactly the month in which, it later determined, the recession had ended.
In most cases, the first half of a recession is dreadful for investors. Corporate earnings drop. So does the stock market. But Wall Street looks ahead, and stocks often rally before the economy picks up. If you've been sitting on the sidelines, waiting for the economy to perk up, here are some indicators you should watch:
1.) •The index of leading economic indicators produced by the Conference Board (conference-board.org). The leading indicators typically go positive about four months before a recession ends.
2.) •Interest rates.The gap between the federal funds rate, a key interbank lending rate, and the 10-year Treasury note yield. In good times, the fed funds rate is lower than the 10-year note yield. The funds rate is now 3%; the 10-year note yields 3.82%. That's a modestly hopeful sign. The indicator, on average, flashes about 11 months before a recession has ended.
3.)•Housing starts. The downturn in housing has led the economic slowdown. A rise in housing starts would indicate a recovery in that sector and possibly an economic recovery. Starts plunged 8.1% in December, the government says.
4.)•Consumer spending. Because Wall Street is worried about the consumer, any signs of life in consumer spending might signal the end of a recession,
Typically, small-company stocks rally first at the end of a recession, because they feel the benefit of lower interest rates first. Technology stocks, industrial stocks and basic-materials stocks also fare well after a recession has ended.
Perhaps the most positive economic indicator for stock investors is the economic research bureau's official announcement that a recession has begun. By the time it's made such an announcement, the recession is typically more than halfway through, and stocks have started to rise again.
Tracking the Dow on Friday,15.02.08.
An excuse for unwinding position for the extended weekend saw the bears skiing through their final laps for the winter holidays.Reports that initial jobless claims and the December trade deficit fell did little to confirm or refute recent Fed arguments the economy is slowing down but will avoid recession.
The Spaniard Bulls were on sight in the last half hour of trading with the Chinese dragonfly helping for a bullish spillover after the holidays.

Light volume rallies typically represent short-term rebounds rather than sustainable moves higher.
Investors weighed Thursday’s Congressional testimony from Bernanke, Treasury Secretary Henry Paulson, and Securities and Exchange Commission Chairman Christopher Cox. The Friday's candlestick fall shy of the weekly main pivot and is willing to hold on to this level for a rebound.

Wriggling economy.

The Valentine's Day menu by the the Federal Reserve chairman was a bad appetiser. He sees a sluggish economic growth ahead and a credit ratings downgrade of FGIC, the fourth-largest bond insurer. The downgrade could lead to more writedowns at banks that own securities covered by the company.

The economy is still in a mess and lack of humidity like the worm wriggling in the hot sun.It's unfortunate to see Ms Dow and Mr Jones having the darkest Valentine unable to secure a good bonded relationship.The bond insurers are themselves in deep shit unable to insure against stock market lovers.

Adding to the sour tune of the day was a former chef,Former Federal Reserve Chairman Alan Greenspan on Thursday who said that the U.S. economy is "clearly on the edge" of a recession. Greenspan said the economy will continue to erode until there is a stabilization of U.S. housing prices."The Edge"....can it mean the end after the market crash since last July 2007 so I presume the end of the slowdown will be by July 2008 so meantime there'll be efforts to stabilize the whole economy by injecting more private and government rescue package.

Data on industrial production for January due at 9:15 a.m.on Friday could shed more light on how the manufacturing sector is holding up.

Tracking the Dow on Thursday,14/02/08.

Credit market turmoil that started last summer with rising defaults among risky mortgage loans has spread to new corners of Wall Street, including the market for securities tied to student loans. The latest hit has been to short-term investments called auction-rate securities-- a popular way for companies and some wealthy investors to store their cash. Some of those investments are backed by the troubled bond insurers.

After three strong days on Wall Street, investors found scant encouragement in Bernanke's testimony and cashed in their gains.It's a bungee jump all through the session and ended the day with another hammer beneath the ground level.The bond insurers are now digging its own grave.

A Bearish Engulfing pair.It's a third Friday of the month with the index futures and options expiry day quite normal for the big boys to shoot down the market and get ready for the two new Dow index counters to be added on the 18th February'08 on Monday.

The mid-month is also the main pivot day of the month and are always a subject of wiping-off gains and vice-versa.

A Valentine Day Booster.

A slight increase in January retail sales figures provided another positive momentum on Wall Street sending Ms Dow and Mr Jones to a merrier Valentine Day special.

Adding to the romantic party was President Bush who on Wednesday signed a multibillion-dollar economic rescue package that means $300 to $1,200 rebates for many American households.
The main Valentine Day's menu on the desk will be Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson who are due to testify before the Senate Banking Committee starting at 10:00 a.m. ET Wednesday. The December trade balance and the weekly jobless claims report are expected before the start of trading.
The master of ceremony should be providing some soothing commentary and convincing enough to usher in this leap year a scenerio of economic confidence as the mild recession is over and proceeding to a slight slowdown.The Dow Index is reflective of the economy has bottomed out.All the negative news and downgrades by the analysts and investment houses have now sidelined and they are the ones willing to destroy the party so that they can consume all the leftovers which are rich in contents.The days of instilling a draconian fears is over.The contagion diseases is now on the road to recovery.
Tracking the Dow on Wednesday,13/02/08.


A surprisingly strong January retail sales report fired up the broad stock market Wednesday, soothing worries about a slowdown in consumer spending, which fuels about two-thirds of economic activity.It's a strong and powerful recovery of the Dow covering back the previous week 370 points free fall.The balance sheet is now healthy.
The final bell saw a spinning bottom pairing together looks like a morning star.The index has passed the Bear resistance and the next ultimate target will be the Main Pivot.

Monday:Hammering the end of downtrend
Tuesday:A gap-up breakaway bullish inverted hammer.
Wednesday:A long new Valentine Day Candlestick.Candle enlighten the lives of all mankind.
The market:an uptrend.

The White Knight.

Wall Street had a bit of comfort when news of a white knight galloped in to offer a rescue plan to bond insurers.Bond insurers write policies that promise to cover payments to bondholders if the entity that issued the bonds defaults. Reinsurance provides a second level of insurance on those bonds.

Billionaire investor Warren Buffett,the white knight offered to help out troubled bond insurers.

His Berkshire Hathaway Inc. holding company has offered a second level of insurance on up to $800 billion in municipal bonds.

The reinsurance offer is for bond insurers Ambac Financial Group Inc., MBIA Inc. and Financial Guaranty Insurance Co., known as FGIC.

A deal which would only back municipal bonds, and not the risky and complicated financial instruments that many see as more likely to have problems.

Troubled bond insurer Ambac Financial Group said it has rejected extra guarantees on municipal bonds offered by billionaire investor Warren Buffett -- and it may not be the first to have done so.

Tracking the Dow on Tuesday,12/02/08

A news driven market helped wall street to register a positive day but towards the half-hour before the closing bell were three long bearish black candlestick noticeable.The trading day ended with a bullish shooting star within the bearish body.Risks aversion is still in the limelight.

The inverted hammer has it closing at 3/4 of the long shadow of Wednesday candlestick.Looks like it's going to blow the light-off and the market will be in darkness again unless we are going to hear any new knight riders to inject news to steer the market.

Meantime,volatility is the name of the game.

Year of the Rat...tling

Rat:mouse
shuǔ : 老鼠 lao shuǔ
The Chinese Lunar New Year which started on the 7th day of February 2008 being the Earth Rat (Wu Zi) Year.

The Chinese Zodiac Animals consists of 12 Horoscopes quite similar to their Western Counterparts namely:-

1.) THE RAT (Water): (1912, '24, '36, '48, '60, '72, '84, '96, 2008

2.) THE OX (Earth): (1913, '25, '37, '49, '61, '73, '85, '97, 2009)

3.) THE TIGER (Wood): (1914, '26, '38, '50, '62, '74, '86, '98, 2010)

4.) THE RABBIT (Wood): (1915, '27, '39, 51, '63, '75, '87, '99, 2011)

5.) THE DRAGON (Earth): (1904, '16, '28, '40, '52, '64, '76, '88, 2000)

6.) THE SNAKE (Fire): (1905, '17, '29, '41, '53, '65, '77, '89, 2001)

7.) THE HORSE (Fire): (1906, '18, '30, '42, '54, '66, '78, '90, 2002)

8.) THE SHEEP (Earth): (1907, '19, '31, '43, '55, '67, '79, '91, 2003)

9.) THE MONKEY (Metal): (1908, '20, '32, '44, '56, '68, '80, '92, 2004)

10.) THE ROOSTER (Metal): (1909, '21, '33, '45, '57, '69, '81, '93, 2005)

11.) THE DOG (Earth): (1910, '22, '34, '46, '58, '70, '82, '94, 2006)

12.) THE PIG (Water): (1911, '23, '35, '47, '59, '71, '83, '95, 2007)
MYTHOLOGY ABOUT RATS.

The Rat is charming, imaginative, very clever and opportunistic in money. His best role is as a confidential agent to you. He loves things off the beaten track.His favourite haunts are catacombs, caves and underground passages. He's skilled at sales, financial and legal matters, writing, political work, doctoring, pathology, detective work, spying and criminology.The Rat is a go-getter. He's active and highly strung and hard mental effort attracts him and also relieves him. When he does nothing, he has problems and can wander in circles becoming over critical and obnoxious. The way of struggle is vital for him and he finds he cannot endure life if it's full of rules and mundane obligations.He is also very detached, purposeful and adapts to all the changing circumstances around him. He is full of courage, industrious and hardworking and his brain is keen and alert. Rat people see the goal they want and go for it. He is unafraid of the unforeseen, so can move with whatever changes happen to him in a project or a profession.

Famous people born in the Year of the Rat:

scientists Werner von Braun and Galileo film maker Luis Bunuel :US president Jimmy Carter ;composers Hayden, Mozart, Tchaikovsky, and Johann Strauss painters Monet and Toulouse Lautrec: sculptor Rodin writers Jack London, Emile Zola, Charlotte Bronte, Shakespeare, Shelley, and Leo Tolstoy adventurer Lawrence of Arabia .

Tracking the rats on wall street on Monday.11/02/2008.
The mighty rats have an early bad start when a king cobra start rattling. AIG, in an 8K filing this morning, the company indicated that its auditors have said its valuations on its CDOs are too high. The company said it has yet to determine the decline in value of its portfolio, and is still accumulating market data to update its valuation.

Weakness in the heavily-weighted financial sector is limiting the ability to advance but were soon cornered byMicrosoft and ExxonMobil that helped lift the market in the plus territory.
At the closing bell was a small-white body spinning doji at the bullish top but looks quite exhausted.It might need a small break before it goes on a rampage again.

A market in consolidation looking for further directions.

There will be changes to the components in the Dow Jones Industrial Average for the first time since 2004. Bank of America and Chevron will be replacing Altria and Honeywell effective Feb. 19. The decision to take action was spurred by Altria's restructuring, including the planned spin-off of Philip Morris, according to the managing editor of the Wall Street Journal.

Analyst-a trait or soothsayer.

Monday blues,and we have analyst who are here to spoil the party on Wall Street again.They all have a pwerful hand to disintegrate the world's financial markets through their regular downgrades.

The Wall tumbled with a 108 kilos bombshell when analysts appeared in their manequin to instill an art of fear to fellow investors.

The downgrades of banks and credit-card issuers pushed the stock market lower, underscoring concerns that Wall Street's mortgage-related woes aren't yet resolved.

Citing the risk of a consumer-led recession with rising unemployment and credit losses, UBS also downgraded Capital One Financial and Discover Financial Services, which fell 7.6% and 9%, respectively. Merrill Lynch downgraded Wachovia to "sell," sending the bank's shares down 8.3%. Stifel Nicolaus also downgraded Wells Fargo.

The latest leg of the credit crisis has surrounded the solvency of insurers MBIA (MBI) and Ambac Financial (ABK).

Last week's advance was just a temporary respite from all the selling and with the rebound it's an excuse to lobby for a sell-down and start the musical chair again.

A tumbling block with the day's trading ending with a bullish hammer at the ground level.

The bears seemed to be in full control with successive growl which is deafening.he bulls have to run for cover.

The pair of candlestick have pierced through the upper section of Thursday's candlestick.They are trying to cover back the white body.Caution is the name of the day.

Evil Karnival & the Sorceror.

The performing illusionist in Evil Karnival.
Jerome Kerviel, 31:-a spectacular Frenchman dracula-trader who lives on a third-floor apartment in the exclusive Paris suburb of Neuilly,his home town of Pont-l'Abbe in Brittany and near his workplace in the capital's financial area of La Defense.

He is a junior within the bank and had worked for SocGen since 2002.

He's being sought after for fooling his bosses in carrying out a massive €4.9 billion ($A8.2 billion) fraud - one of the biggest in financial history.

Societe Generale chief executive and chairman Daniel Bouton said the trader had used "extremely sophisticated and varied techniques" to carry out the fraud and that he "had the intelligence to escape all control procedures".

Kerviel, who earned less than €100,000 euros a year, allegedly built up the huge losses dealing in derivatives tradings.

Societe Generale said in a statement that the rogue trader had been carrying out what it called "vanilla futures hedging" on European equity markets - industry jargon for the most basic kind of futures purchase.
It said he had an in-depth knowledge of the bank's control systems, and managed to cover his tracks "through a scheme of elaborate fictitious transactions".
These were discovered and investigated on January 19 and 20, it said.
A Societe Generale union source said it appeared that the trader had not acted for personal profit.

Little is known yet about Kerviel. Management des Operations de Marche, a business school in Lyon, lists him as a 2000 graduate.

He is the seventh individual singled out for unauthorized trading since 1994. Today he has unexpectedly joined the club of rogue traders .

The Sorceror.

With global markets on a knife's edge after sharp falls in share prices this week, the bank, Societe Generale, has announced a loss of 6.9 billion euros, the largest in European history, according to Bloomberg.

Societe Generale "was a leader in derivatives and was considered one of the best risk managers" in the world, he told Bloomberg.
But Ion-Marc Valhi, of the Swiss bank, Amas, told the BBC: "I am sorry but I have a hard time buying the fact that a trader was able to set up a 'secret trade' of 4.9 billion without anybody finding out."

The bank, which insisted he had acted alone, said he took out "massive fraudulent directional positions in 2007 and 2008 beyond his limited authority".
Experts however had trouble accepting that a trader could have managed to successfully hide such colossal losses.
"It seems a bit much to believe that for an entire year this would have gone undetected," said Elie Cohen, a professor of economics at the Paris Institute of Political Studies.
"One person alone cannot trigger such a catastrophe," commented Arnaud Riverain from the private firm Arkeon Finance. The bank's trading desk must have suffered from some "dysfunction", he said.