Consumer sentiment lowest.

Rising food and gas prices dragged down a consumer sentiment measure to its lowest level in nearly 28 years, according to a survey released Friday.
Consumers are painfully aware that their living standards are shrinking under the weight of higher food and fuel prices and see little hope for improvement any time soon.In the past couple of months, personal income and personal consumption have been moving in lockstep.
If your income is only growing at the same pace as consumption, it just means you are holding even and more money is going to food and energy.Any leftover money from nondiscretionary spending and other living expenses is shrinking.
Tracking the Dow on Friday,30/05/08

9:30am--Bullish Gap up,20.0 points.
Just hitting the wires, April personal income rose 0.2% month-over-month, (consensus +0.1%), in-line with expectations.
10:30--Time to cover gap.
Chicago PMI, a regional manufacturing survey, rose 1.7% to 49.1. The results topped the expected reading of 48.5. It is the fourth straight month that the reading has reflected contraction in manufacturing activity in the Chicago region.Saw the shooting star high,open a sell-short position.
11:30am--(H12,690+L12,630)/2=(MAV12,660)
The engulfing bullish candle at this moment.,Close & open long position since we are below MAV.
12:30pm- Morning Doji Star
Investors are hesitant thus far to make a concerted move ahead of the weekend, demonstrated by the stock market's tightest trading range since October 2007-
1:30pm--Evening Doji Star
It seems three times of hanging at this top so decided to close sell-short at this point.Economic news ore events alsways happens at this hour.
2:30pm--Inverted small bull hammer below MAV.
Crude oil ended the session higher by $0.76 to to $127.38. Index aiming for a technical rebound to the Bull pivot.
3:30pm--Pullback to bear pivot.
Quite a volatile session.The inverted hammer again with 3 ascending bulls and than spike down.Traders unwind positions for the weekend.

4:00pm--The Hammer
Leaving behind the trail of a Hanging Man ,they might start next week on weaker note below the long tail shadow of the candlestick.

Stocks have mixed day, mixed month
Dell's earnings give a lift to the technology sector at the end of an uneven month on Wall Street.But the broader market struggled amid rising oil and gas prices, and a mix of economic news that did little to temper fears about a slowdown.The overall indicies are still bearish and quite a distance from the MAV unless a spectacular news can drive it to break the barrier.The bearish shooting star pair,looks like a Dark Cloud Cover and might look forward towards a weaker start.

Fed Governor resign

Federal Reserve Gov. Frederic Mishkin said Wednesday that he would resign from the central bank at the end of August to return to his Columbia University teaching post.
His surprise announcement leaves an already short-staffed central bank even more depleted in the midst of the most challenging economy in decades.
With Mishkin's departure, the seven-member Fed board of governors could be pared down to four.The Democratic-controlled Senate for nearly a year has refused to vote on President Bush's nominees to fill several open Fed slots. If the Senate delay continues, whoever is elected president in November will have a chance to quickly shape the policymaking arm of the central bank through new appointments.
WHY THE FED GOVERNORS ARE IMPORTANT
Aside from Chairman Ben Bernanke, members of the Federal Reserve Board of Governors may not have high name recognition, but they have a big impact on U.S. consumers.
Fed governors and regional bank presidents vote on interest rate policy.
The Board oversees part of the banking industry, is in the process of writing broad credit card and mortgage lending rules, and has crafted policy for lending hundreds of billions of dollars to banks and other financial entities to ease a severe credit crunch.
Tracking the Dow on Wednesday 28/05/08

9:30am--A 40.0 point Gap Up.
Stronger than expected durable goods data for April leads the early euphoria.
10:30am--1st hour low detected.
(H12,600+L12,530)/2=(MAV12,565)
Buy-long position and sell close position around MAV.
11:30am--2nd hour,shooting star
Open a sell position.
12;30pm--end of morning session,another low.
(H12600+12,490)/2=(MAV12,545)Main index undeneath the MAV and shape like inverted hammer.Got into a buy position.
1:30pm--Penetrating MAV.
A bearish engulfing.Sell and add another short-position.
2:30pm--A dragonfly doji looking for lift off
Close buy and long another position.
3:30pm--Into a bulls country.
Hold on
4:00pm-closing bell,spinning top.

Inflation fears continue to build and there's mounting evidence of the impact that spiking energy prices are having on the broader economy.Oil prices rebounded from lows below $127 a barrel as the dollar dropped back from post-durable goods highs and reportedly on some covering of bets that oil prices would continue to fall.
The Dow will be creeping cautiously into last Friday's candle body.

Long deep recession.

The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investor Warren Buffett said in an interview published in German magazine Der Spiegel on Saturday.
"If the world were falling apart I'd still invest in companies," he said
Buffett also renewed his criticism of derivatives trading.
"It's not right that hundreds of thousands of jobs are being eliminated, that entire industrial sectors in the real economy are being wiped out by financial bets even though the sectors are actually in good health."
Buffett complained about the lack of effective controls.
"That's the problem," he said. "You can't steer it, you can't regulate it anymore. You can't get the genie back in the bottle."
Tracking the Dow on Friday,23/05/08


9:30am--Bearish Gap-Down.
Nearly 50.0 hefty points.Soaring oil prices, renewed concerns about the state of the financial sector and growing concerns about inflation pressures are dictating today's market.
10:30am--1st hour Bearish low.
The 3 bearish crows followed by graveyard dojis.It's now nearly a 150.0points crash.To sell short the market is impossible at this moment but to buy for a small technical rebound is the option.
11:30am--2nd hour hammering the downtrend.
Time for a technical rebound before the morning session ends.
12:30pm--Bears hammer.
The rebound failed to test the MAV so its a confirmed bear trend since the gap till this moment has not been covered.
1:30pm--False bulls.
A technical rebound.
2:30pm--Attempting rebound.Main candlestick a long black bar.
Existing home sales in April fell 1.0% from March to an annualized rate of 4.89 million units. That was better than expected but the rebound is unsustainable since we're now in the bear country.
3:30pm--Bearish hammer.
The double bearish top,all failed to test the MAV.It's injury time so no hope.
4:00pm--A graveyard doji.
Unwinding for the long weekend in view of Monday being a public holiday-Memorial Day.The bears will still be in control.

It's the downtrend.Monday's shooting star candlestick signal's the theme play for memorial of a fallen hero.Traders unloaded shares ahead of the long Memorial Day weekend.
Traders will look ahead to a short but action-packed week ahead in economic data.The week kicks off with the March S&P/Case-Shiller home price index and May consumer confidence on Tuesday. Durable goods orders for April follow on Wednesday. Preliminary first quarter GDP and weekly initial jobless claims are on tap for Thursday. The week wraps up on Friday with April personal income, May Chicago PMI, and final Michigan consumer sentiment for May.

The Fed's Minutes.

Federal Reserve officials strongly suggested they won't be inclined to cut interest rates further even as they sharply downgraded their forecast for economic growth this year, citing damage from a housing slump, credit crunch and galloping energy prices.
Fed officials viewed economic activity "as likely to be particularly weak in the first half of 2008; some rebound was anticipated in the second half of this year," the documents stated.
The Fed also forecast higher unemployment and inflation for this year.

"Most members viewed the decision to reduce interest rates at this meeting as a close call," the documents showed. "Although downside risks to growth remained, members were also concerned about the upside risks to the inflation outlook, given the continued increases in oil and commodity prices."

Tracking the Dow on wednesday,21/05/08

9:30am--A weak bull

Awaiting the April 30 FOMC meeting minutes.Crude oil hit an all-time high of $130.47 per barrel ahead of the government's weekly energy inventory report at 10:30 ET.

10:30am--Graveyard Doji.Main Candlestick a bearish inverted hammer.

The early high was noted.Just hitting the wires, crude oil inventories for the week ended May 17 fell 5.32 million barrels, snapping four straight weeks of inventory builds.Open a sell-short position.

11:30am--Rebound but a bearish spin.

Boeing (BA 82.10, -3.04) and Hewlett-Packard (HPQ 45.42, -1.04) come under selling pressure.

12:30pm--The bears in command.

Crude oil prices spiked from the unchanged mark to a gain of 2.4% at $132.08 per barrel marking an all-time high.

1:30pm--Main candle still an inverted hammer.

Index hoovering near the low.

2:30pm--A longer bearish formation.

Market participants are concerned over the negative FOMC meeting minutes, with the Fed cutting its growth forecast and raising its inflation expectations. Several FOMC members said that it was unlikely that they will ease policy in the near term, even if the economy sees a contraction.

3:30pm--Another graveyard doji.

Decided to hang on position till closing.A day's low was set here.

4:00pm--A 4-legged doji.

Close buy-long postion.The 4-legged frog is waiting to leap again.

The FOMC released the minutes from its April 30 meeting around 2:00 ET, which sent stocks tumbling. The Fed noted its decision to cut rates by 25 basis points was a "close call" given the current inflation risks. The Fed expects 2008 real GDP growth of between 0.3% and 1.2%, which is down about 1% from their previous forecast. The 2008 inflation outlook was increased, as was the unemployment rate forecast. Several FOMC members said that it was unlikely that it would be appropriate to ease monetary policy in the near term, even if the economy sees a contraction given the current inflation environment.Wednesday indicies are just an inch below the 52 weeks MAV. and should retrace again.

A bet on rebound.

With Memorial Day you're going to have pretty light trading the rest of the week and with thin trading it makes it easier to push markets around.
U.S. exchanges will be closed May 26 for the holiday.
Traders are speculating record oil prices and the deepest housing slump since the Great Depression will lead to wider stock swings.
Tracking the Dow on Tuesday,20/05/08


9:30pm--Early Bear Unshaven Candlestick.
Nearly a 80.0 points gap-down.Crude jumped to a trading high of $129.60.Wholesale inflation edged up by 0.2 percent in April.
10:30pm--1st hour,No sign of gap covering.
It's a bearish day.Another strong bear unshaven top and bottom.
11:30pm--2nd Hour,the Hangman.
It's still under hammering.Can't open position as no trace of a low.
12:30pm--3rd Hour,the Graveyard Doji.
A technical rebound and collapse again.
1:30pm--Noon session,the graveyard doji again.
The mood on the Street was further depressed Tuesday by sluggish retail reports and comments from Federal Reserve Vice Chairman Donald Kohn that policymakers are inclined to hold interest rates steady.
2:30pm--Technical bull spike up
The low of the day was finally set.A rebound to the bear pivot.
3:30pm--A spinning indecision doji.
A weak rebound to the bear pivot.
4:00pm--Closing bell,the inverted hammer.
A possible rebound.

Spiking oil and gas prices and a bigger-than-expected jump in a key inflation measure rattled investors during the week.The Dow skidded and landed right on target at the Bear Pivot in line with last wednesday's opening.
The pullback has completed and time to rebound again.

Fed's circuit..

On Tuesday, Fed Vice Chairman Donald Kohn speaks in New Orleans on the economic outlook at 9am. Fed Governor Kevin Warsh speaks Wednesday on using the federal funds rate in extraordinary times at 1pm. Fed Governor Randall Kroszner speaks at 9pm Thursday on the prospects for recovery and repair of mortgage markets at a conference of state bank supervisors in Florida.
The FOMC minutes are on Wednesday at 2pm.
Treasury Secretary Henry Paulson said Friday that financial markets are "considerably calmer" now than they were two months ago. He predicted the economy will be rebounding by the second half of this year.But he did forecast that the stimulus checks going to 130 million households would help spur growth in the second half of the year.
Meanwhile, the United Nations warned the world economy could see a severe downturn, with growth of just 1.8% expected this year, as a result of the U.S. housing and financial market bust.

Tracking the Dow on Friday:16/05/08


9:30am--Bearish Spin.
Open with 10.0 points gap down. The Commerce Department's report that home construction jumped 8.2 percent in April.Oil sets record near $128; pump price at high, too
10:30am--Inverted Hammer
(H13,000+L12,945)/2=12,973(MAV).Index is now at MAV,risks opening any positions at MAV.
11:30am--Hammer a downtrend.
(H13,00+12,900)/2=12,950(MAV).It's a better range play so open a buy-long position.There is a dragonfly doji here.
12:30pm--A spinning bottom.
It's near and at the MAV just coming up from its bottom.Morning session discipline must clear around here.No hesitation.
1:30pm--Bearish marubozu.
The main index candlestick is a black bar so this pullback here being held above the bear pivot is a time to open long position again for the new afternoon session.A double spinner seen.
2:30pm--Bullish marubozu.
The 2 spinning dojis above the MAV followed by a spike up is now in favour of the 2nd session bulls.U.S. Treasury Secretary Henry Paulson was upbeat about the credit crisis but said that housing problems are the biggest risk to the economy.His speech helped the spike up.
3:30pm--Bullish marubozu
The options expiry kicked in during the final moments of trading. Today is the 3rd Friday of the month.Index still holding strongly.
4:00pm--Bullish Harami.
Traders squared positions before the weekend.The bullish engulfing candlestick is a good sign of ensuing party.

It's an ascending chart.The unshaven white candlestick as noticed in the 3 instances are sheer sign that the market transformation is taking place.It's no more the fake bulls,but real ones.

A mild inflation

Unemployment and inflation are typically added together to come up with a so-called "Misery Index."
No inflation if you don't eat or drive.
Nondurable goods, such as food and gasoline, makes up only 12% of CPI.
Tracking the Dow on Wednesday,14/05/08.

9:30am--Opening

A higher start thanks to the tamer than expected inflation reading. Crude oil is trading down 0.3% to $125.40 per barrel ahead of the government's weekly energy report.Gap-up=40.0 points.
10:30--1st Hour
No sign of pullback to fill the gap.Seems to be aiming higher.The main candlestick is a long white bar so shorting the market is very high risk here.To buy long position is also difficult to ascertain.The 2 hammer or hangman side by side is also a warning.
11:30--2nd Hour.
It's still distributing above the MAV.Anytime there might be a towering inferno.
12:30pm--Final Morning session.
Again those graveyard dojis hanging along the path.The zhombies might be appearing.
1:30pm--The start of 2nd session.
This is the most sensitive time of the Dow.Any major economic announcement happens here. Retailers (+1.8%) are showing strength, with better-than-expected earnings at Macy's acting as the underlying catalyst. Macy's reported a quarterly profit of two cents per share, while analysts expected a loss of two cents.
2:30pm--The decision time.
A shooting star appears here.Looks dangerous as the chart is turning.
3:30pm--Injury Time.
Another graveyard doji.Difficult to take any position today with all the bull traps.
4:00pm--The Closing Bell.
It touches the 52 weeks MAV with a small dragonfly doji again.
Wall Street advanced Wednesday after a better-than-expected report on consumer prices tempered some of the market's concerns about inflation.The inverted hammer with a long upper shadow waiting to be filled again.Come Friday,it's the 3rd Friday of the month.Index & options expiry.

A fall in retail sales.

Tracking the Dow on Tuesday(13/05/08)

9:30am--A 5.0 point gap-up,weak start.The long upper shadow is a sign of shooting star which can easily be translated to a graveyard doji.

10:30am--3 bearish candlestick along the way with graveyard dojis at this one hour of trading.Open a sell-short position.

11:30am--2nd hour into trading,a trading low touching only once.Close position and reverse buy-long position.The MAV is now 12,836.Look to sell when it reaches this bull-trap.Why?the main candlestick pattern formed at this moment of time is a black bar.Wal-Mart & Hewlett-Packard is the main drag.

12:30pm--The return of surging oil futures, and sobering words on the liquidity crisis from Federal Reserve Chairman Ben Bernanke is adding salt to the market.The index failed to touch the MAV,still hanging on with the bears.

1:30pm--There's a small hammer(hangman) seen so I've avoid taking new position.

2:30pm--The MAV was finally touched and slight pullback.Time constraint so no point being aggresive. Yahoo! gained ground after CNBC reported that billionaire investor Carl Icahn may begin a proxy fight at the Internet-portal operator. According to people who have spoken with Icahn, he has recently accumulated as many as 50 million of the company's shares, the report said.A small inverted hammer was seen on receiving the news followed by a sudden spike up.

3:30pm-- The Commerce Department said business inventories were up 1%,while the Labor Department said import prices, excluding the volatile effects of oil, were up 1.1% in April, the same as the prior month.A slight bad economic news dragged it down again.

4:00pm--The spinning candlestick at the closing bell at the MAV is a bullish sign again.

The main indicies on Tuesday is holding very close to the month's MAV.Good sign of a returning bull.

This month opening:12,818.34(01/05/08).

Drawing the candlestick base on today's closing,we're having a powerful spin.

Cheerful Monday.

Tracking the Dow on Monday,12/05/08
9:30am--A small 30.0 point gap-up.Stocks up as oil price drop eases inflation fears.Encouraging news about the credit crisis from London-based HSBC Holdings PLC, which said its first-quarter profits were up from a year ago although the global banking company took a $3.2 billion write-down on subprime mortgage assets in the United States.
10:30am--First hour low,BUY(long) as the full gap has been filled.The bullish spinning bottom is another sign.
11:30am--A high was established.The 2 inverted hammers with a spin is another good sign.Hang on.
12:30pm--Index is still holding along the path of the high.
1:30pm--The beginning of the 2nd session saw 2 draginfly dojis again
2:30pm--The powerful bulls charge.
3:30pm--The bullish harami,bulls still intact.
4:00pm--The closing saw the 2 toppish spinners at work,an exhausted bull.

Monday's strong inverted hammer candlestick below the MAV is a good sign of further strong recovery.The engulfing harami will be an added booster.

High Yuan-Exporters hit.

The rapid appreciation of the Chinese currency against the US dollar is taking a big toll on Asian companies using China as base for exports to the United States, according to a top US business official.
The yuan has risen 18 percent against the dollar since China abandoned a peg in July 2005, and the currency breached a key psychological level of 7.0 yuan to one dollar on April 10.
The higher yuan makes US exports more competitive with Chinese goods in their home market, while business costs for largely Asian companies producing and exporting from China will rise as they pay more local currency for labor and raw materials and sell their products to the US market in dollars.
Companies from Japan, Korea, Taiwan, Hong Kong, Malaysia and Singapore selling to the US market had shifted their production to China over the last 10 years or so to be more cost-competitive.
The exchange rate change and other cost increases happening in China now are having an impact. That is a different set of companies than US companies, most of which invested in China for the China market.
The yuan's rise, partly permitted by Beijing to contain soaring inflation, is a bit of an irony.
The prices of China-made goods in the United States have gone up, but not as much as the yuan appreciation, while Chinese exports are growing much less rapidly.
In 2007 China recorded an enormous current account surplus of 378 billion dollars, or 12 percent of its gross domestic product.
However, China's inflation has kept rising, partly because of the mounting current account surplus. China's central bank needs to flood the market with more yuan bills, in order to take reserve of all foreign currencies. Expanded liquidity of the yuan has extended liquity, and made inflation worse. China's inflation hit 8 percent in the first 3 months.

Tracking the Dow on Friday,09/05/08.

9:30am--A big spike down of nearly 130 points at the opening bell.AIG reported it lost $7.81 billion -- its second straight quarterly loss -- and revealed plans to raise $12.5 billion in the coming months.
10:30am--(12,850+12,730)/2=(12,790MAV or Half Gap).The mini bull spin here justified a BUY/LONG position as it will close the half-gap.Clear position by selling/short without fail at the half gap.
11:30am--A Very Bearish Harami(Engulfing).SELL/Short here.
12:30pm--An hour has passed yet indicies hanging dangerously sideways below the MAV.Here noticed another bearish harami.Hold on earlier position.
1:30pm--A new session low set.So the new MAV is now 12,788.The dragonfly doji seen here justify to buy/long position again as the retracement is about to start.
2:30pm--The overall day's candlestick is a black bar (bearish).Hence any rebound is a must to sell.
3:30pm--It finally choose this time to bring it to the MAV of the day.Sell/Short position.
4:00pm--The many spinning dojis here again signify the grave-diggers are still at work.

This is the third session low with alternating spinning bullish dojis.The nature of the 3rd spin on Monday will determine whether the bulls plan to short-cover again.
Rising crude oil prices remained a source of worry for investors.
Earnings season draws to a close next week with Wal-Mart and Hewlett-Packard the remaining Dow Components still left to report. Is there a last minute earnings trade here?

Oily Crunch.

The soaring crude oil prices of late to $123 per barrel for the first time is creating a new 'financial greenhouse' effect creating a deep hole in the pockets of consumers.“Ironically, the latest jump in oil prices has put stocks back under pressure and pulled [bond] yields down to session lows, despite the inflationary implications that continue to haunt the Fed,” says Action Economics.Rising energy prices are acting to depress economic growth, putting a strain on consumers’ purchasing power but not being passed through to wages and not feeding the inflation wage price spiral.The International Energy Agency (IEA) has wayback in July 9,2007 issued a warning that the world will be increasingly experiencing an oil supply crunch with prices to soar to unprecedented levels over the next five years. The basic facts are that demand for oil will rise by 2.2 percent a year between now and 2012 - up from a previous forecast of 2 percent - as the world's economy expands at 4.5 percent a year.Lawrence Eagles of the IEA warned: "The results of our analysis are quite strong. Something has to happen. Either we need to have more supplies coming on stream, or we need to have lower demand growth." Production of bio-fuels is set to reach 1.75 million barrels per day by 2012.There are two problems confronting bio-fuels, which will hinder further growth. First is the fact that diverting corn into ethanol has caused a doubling of global grain prices which has resulted in larger than 10 percent rises in food prices in many countries such as the United States, China, India, Mexico, and in other developing countries.
Second is the economics of fuel production. It seems to be a fact of life that wherever we turn to make new fuels, we find it cannot be done without expending enormous amount of our resources such as electricity from burning fossil fuels and water, defeating the original purpose.

Tracking the Dow on Wednesday,07/05/08.

9:30am--Opening day with a mild gap-down say around 15 points.

Walt Disney (DIS) reported earnings of $0.58 per share, topping expectation.Cisco Systems (CSCO) beat its earnings estimate by two cents.

10:30am--Index still flat with the range between H+L too tight.News hit:-March U.S. pending home sales fell 1.0%.This doji shooting star is dubious,it can also be a graveyard doji.

(H13,030+L12980)/2=MAV13,005.Candle pattern now it's a hammer.Open sell short position @13,010 since it's above MAV.

11:30am--Ah,it's a bearish stick with another new hour low.Crude was trading up 0.2% to $122.15 per barrel.Crude stockpiles for the week ended May 3 rose by 5.7 million barrels.Financial stocks under hammer.The main index pattern has now changed to a black bar.Let's hang on.

12:30pm-- First quarter nonfarm productivity rose 2.2%, which was more than the consensus estimate of 1.5%.Acess today's events,all are negative news.The range is now (13,040+12,940)/2=12,990.Index price at 12,960 ie -30 from MAV.A small technical rebound here with a morning star so decide to fight with it.Hang on.

1:30pm--A new low again.All the black stagnant black crows.Nine of the ten economic sectors are now in the red.Hammer candlestick along the way.

2:30pm--The stock market is under selling pressure, as it falls to fresh session lows.A black graveyard doji below the long bar.

3:30pm--It's near to injury time,difficult to score any hattrick goal.Close position buy back(long).

4:00--The final bell candlestick is a rock bottom bull waiting to short-cover.A rebound tomorrow.

Friday is the Evening Star

Tuesday is the Hanging Man

Wednesday is the Pivot day of the week-MAV so the market makers have completed their agendas.So the new musical chair will start again.

Banks tightening credits.

The credit markets are fragile,the banking instituitions are tightening credit for consumers and businesses which have reached historic highs.

.About 70% of domestic lenders have made it harder for consumers to get home equity lines of credit, while about 50% have tightened terms for those with existing home equity loans in the past six months. In some cases, the amount of the loan has been cut. The tougher standards are a response to falling home prices.

•About 30% of U.S. banks have ratcheted up standards for credit cards, compared with 10% in the previous three months. Banks are reducing credit limits and requiring consumers to have higher credit scores.
•Banks expect to approve fewer student loans this year than they did in 2007. Of the 29 domestic banks that originated student loans under a federal program last fall, many expect decreased business.

•About 55% of banks reported imposing tougher standards on commercial and industrial business loans to large and middle-market firms.

•Nearly 60% of domestic lenders have set tougher standards for safer prime mortgages, while an even larger slice of banks making riskier loans has tightened up.

Tracking the Dow on Monday:05/05/08.

9:30am--Traders reacted to another surge in oil prices and Microsoft's decision to drop its bid for Yahoo.The opening was a 30 points spike down.

10:30am--The opening bell gaps was half-heartedly being cover.At this hour,the candlestick formation is a shaven top bearish so wait to confirm again.

11:30am--The morning session low was seen half hour earlier.Any sign of rebound will not break the MAV due to the bearish shaven top candlestick.

12:30pm--A bottom dragonfly doji,technical rebound.

1:30pm--Another bull trap with the movement all below the MAV.

2:30pm--A technical rebound with too many bearish doji tops.

3:30pm--Another bearish spike down.

4:00pm--the closing ended with mutiple dojis.

The spinning top has blown off the light of the candlestick eversince it was hanging on the bull pivot.Monday blues have covered the half body of Thursday candlestick.The other half should not be disturbed as the market makers have brought it to close at the MAV again.

Olympic Stocks.

3 China Stocks to Watch as the Olympics Approaches.

1.) Universal Travel Group's (UTVG.OB)---Universal Travel Group is certainly a stock that will do well from the Games, benefiting from the confluence of greater spending power and increased travel from both domestic and international tourists.

2.) China Yida (CYID.OB) is another, with its world class tourist destination in the Great Golden Lake which, despite it being a little off the beaten path, makes for a great summer getaway.

3.) Media stocks should also be looking up. The only pure play left in the C.O.P. Index(China Olympic Play) is Legend Media (LEGE.OB), an airtime aggregator in the radio advertisement space. This company is still in its ramp-up phase and it will be interesting to see how it deals with the opportunities that will surely come its way this summer.

So the countdown has begun to 08/08/08 .(100 days to go)

Tracking The Dow on Friday,02/05/08

9:30am--A nearly 100 points gap-up. April employment report, which was better than expected on most fronts stir up the opening.10:30am--An early high being set,so the MAV will be (13,130+13,010)/2=13,070.It covered only a quarter part of gap.Open a buy,long position on seeing a bullish spin.11:30am--It failed to advance,a shooting star and bearish harami was seen along the way.The index keeps on piercing the MAV trying to find low.Clear position,cut loss.12:30pm--It's confirmed covering 3/4 of the gap.1:30pm--The 2nd low being set after completing full gap cover.So now the range to the MAV is a small range,not feasible for any new position.The candlestick pattern now resembles a graveyard doji,ie a very long upper shadow.2:30pm--Still hoovering in the bear county and looking at the time,the full recovery looks limited.A bullish harami,so enter buy again.,3:30pm--Close position,sell-short.the graveyard doji here is frightening.4:00pm--Now only the market-makers bring the index to MAV of the day.Very good manipulation.

The bulls are taking a pause for the weekend and will be back in action again.Friday's candlestick is piercing through the bull-pivot.

Sunshine Day.

Sunny skies are back in Wall Street despite the slowdown at main street.Despite a drumbeat of bad economic news, the stock market is up — almost 11 percent in the last few weeks. Junk bonds, those risky corporate I.O.U.’s, are rallying. The value of financial shares, bank loans, tricky credit derivatives — up, up, up.
For now, policy makers are echoing the mood on Wall Street. Treasury Secretary Henry M. Paulson Jr. said in an interview with Bloomberg Television on Thursday that “we are closer to the end of this problem than we are to the beginning.”
The dollar has strengthened and oil prices fell for the third day in a row.
It is a remarkable reversal in attitudes from just a few months ago, when the broader economy seemed relatively healthy but Wall Street was traumatized by billions of dollars in mortgage-related losses. Now, bankers and investors appear ready to look past the crisis to more profitable times, while consumers find themselves in a more precarious position as the job market weakens and banks make it harder to borrow money.
YouTube - john denver-sunshine on my shoulder
Tracking the Dow on Thursday,1/05/08
9:30am--No tremendous gaps-up at the opening.It's a Doji Star,the match game decider.It covers an early low.
10:30am--Index doesn't look back now at session high.Plotting the candlestick is a white body-sign of bullishness.Open a buy long position.
11:30am--Another high,a bullish harami embeded.Hang on.
12:30pm--Still ascending,now confirm a galloping bull.The longer white candlestick.
1:30pm--It's the top,a graveyard doji seen.Close sell,short position.
2:30pm--No sign of crashing through the bull pivot (High+MAV)/2.
3:30pm--It again touch the support of the bull pivot.The inverted hammer seen.No apetitite to open a new position as this is injury time to closing.
4:00pm--It maintains the day's high ending with a small dark cover.Mild-profit taking,not so aggressive.

The beginning of the mid-pivot month of 2nd Quarter.The bullish candlestick with no unshaven top and bottom is sure good sign that it has room to light up further.
YouTube - You Light Up My Life by Debby Boone

'Hypermiling' to reduce fuel cost

As US gasoline prices hit records on almost a daily basis, an increasing number of motorists are following a radical driving technique designed to eke out every last mile from a tank of fuel.
Known as "hypermiling", the method can double mileage, even in gas-guzzling vehicles that would normally use about 11.8 liters per 100 km.
Hypermiling includes pumping up tires to the maximum rating on their sidewalls, which may be higher than levels recommended in car manuals; using engine oil of a low viscosity; and the controversial practice of drafting behind other vehicles on the highway to reduce aerodynamic drag - a practice begun a few years ago by truck drivers.
The price of gasoline - which hit a record of nearly $3.61 per gallon on Tuesday, according to travel club AAA - has rapidly emerged as the public's biggest economic concern.
Gas prices are a "serious problem", ahead of jobs and healthcare, a poll released on Tuesday by the Kaiser Family Foundation showed.
Wayne Gerdes, a former nuclear plant operator from Wadsworth, Illinois, and the originator of hypermiling, said he gets 5.9-3.4 liters/100 km out of his Ford Ranger pickup truck, about doubling its official fuel consumption of 9.4 liters/100 km.
Gerdes, 47, said hypermiling has saved him $15,000 in fuel since he began the technique after the attacks of Sept 11, events that convinced him that US national security was being undermined by its dependence on oil from the Middle East, and motivated him to reduce his own fuel consumption.
Tracking the Dow on wednesday,30/04/08.


9:30am-- U.S. economy expanded by a larger than expected amount, first quarter GDP rose by 0.6%.A 30.0 points Gaps-up.
10:30am--1st hour into trade,the GDP deflator -- an inflation measure -- rose at an annual rate of 2.6%.Nonfarm private employment, showed an increase of 10,000 jobs in April, easily beating the consensus.(H:,900+L,:830)/2=,865(MAV).No sign of covering the gaps.It's hoovering above MAV.There's a spin-BUY.
11:30am--Sell,toppish bear spin seen.
12:30pm--(H:,950+L:,830)/2=,890(MAV)Index too near the MAV and flat.The stock market has been heading sideways.Wait to gauge further.
1:30pm--The stock market is slowly drifting toward session highs. Market breadth is postive. Volume is average, but will pick up after the FOMC announcement.Look to SELL ON NEWS.
2:30pm-- The FOMC just announced it cut the fed funds and discount rates by 25 basis points. This leaves the fed funds rate at 2.00% and the discount rate at 2.25%.Saw the 2 graveyard dojis formation.There are Triple Tops.Open and shoot to sell(short position).
3:30pm--It's a YouTube - Kamikaze Attacks, ...Mayday!..Mayday!...Helicopter Ben being hit.We are 'in-the-money".Close position.
4:00pm--The closing is near day's low with another long-samurai sword,it's the YouTube - Original American Ninja Trailer

The seventh consecutive rate cut by the central bank to combat the growing threat of a recession brought on by a deep housing slump and credit crisis did not augurs well on Wall Street.Fed Chairman Ben Bernanke and his colleagues said in their statement explaining the decision that "economic activity remains weak" with subdued spending by businesses and households. "uncertainty about the inflation outlook remains high," adding that it would be necessary to "continue to monitor inflation developments carefully."So farewell to this last cut is the deepest.The Wednesday "graveyard doji" is lying on the Bull Pivot/MAV and it's dangerous!
YouTube - First Cut is the Deepest - by Rod Stewart
Can you beat me:-my hit 860 targets--http://www.unisoft-technologies.com/games/crusader/index.htm