China's bottoms -up!

The chinese are having their brandy drinking "yam-seng" again.China's system of state-influenced markets has proven itself superior to the more "unregulated" Western model. Cleverly insulated from market turmoil, the claim goes, China is poised to surge ahead as the world's new economic superpower.
Restaurants in Beijing are fully booked, malls are filled with shoppers. Property prices in the capital are buoyant, defying the historical pattern of a post-Olympic Games slump.

Monday,23/02/09.

9:30am:--Bearish Harami.

10:00am:--Early low seen now at session MAV.

10:30am:--Breakout day's opening.

11:00am:--Inverted hammer bulls with dragonfly doji.

11:30am:--Lunch time break.Overall candlestick is bullish.

1:00pm:--2nd session open with bullish gap up.

1:30pm:--Pullback to low confirmation.

2:00pm:--Bullish spike-up.

2:30pm:--Another ascending soldiers.

3:00pm:--Profit taking but still holding at high side.

Looks like the Chinese market is on the road to a systematic recovery.

The economic crisis in China is taking on a fundamentally different shape than in the countries where it originated.
The crisis in Western markets began at the top and worked its way down.

The process unfolding in China is precisely the opposite. The threat comes not from the commanding heights of the economy, but from the grassroots. All along the coast, thousands of small factories that rely entirely on US and European export markets are cutting back production or shutting down. Their margins were thin to begin with, and now their orders are being slashed. The first to be affected aren't the global professionals that populate China's big cities, but the migrant workers that made those factories hum.

Mutual Fund fictitious trading.

The Bernard Madoff scandal has finally shown its colours of how investing in a unit trust fund is just like a Ponzi Scheme.
There are always a lack of transparency as most funds are launched according to the theme-play of each season.But one thing in common which I've noticed is there is cross-holding and conflict of interest.
The funds are used to buy cronies listed companies or are being used as favours to rescue some of the government link companies that are in distress.This is very common practise in some of the mutual funds in South-East Asian countries.That's why they don't need assistance from the Internatinol Monetary Fund.
So the old school of thoughts of building one's retirement nest-egg in mutual is now a bloody bullshit and a fraud.It's also den of high risk.
Henceforth investors might as well managed their own funds and not to be taken in by those glamourous photos of high profile directors or fund managers in the prospectus.
They are like zombies out to suck your blood.But their bottom like is SALES and BONUSES to please their bosses.

Dow Expiry Day:20/02/09.(Friday)

9:30am:-Hefty 100.0 over points bungy jump.

Taking the cue from Asian & European market plunge.

10:30am:--Bullish hammer.

The index recoverd to the half gap down and therafter failed to follow through.

11:30am:--Bullish engulfing.

Now at session low with a technical rebound for the morning session ending.

12:30noon:--Bearish hammer and bearish doji.

Index plunges down.

1:30pm:--Inverted hammer and dragonfly doji.

A big swing from the low.

2:30pm:--Bullish inverted hammer.

Indicies holding above the healthy MAV bull pivot area.

3:30pm:--Bearish spin.

Holding at the MAV line.The decider at this point.

4:00pm:--A bullish marubozu seen.

The bearish candle held at the upper body is the day's unwinding position.A follow through technical rebound is expected.

Financial stocks dragged the Dow to a disgusting

lowest level since the depths of the last bear market, in 2002.

On Wall Street, talk of nationalization of Citigroup Inc., and Bank of America Corp., prompted investors to continue to balk, worried that the government would have to take control and wipe out shareholders in the process.

The speculation about the two banks' future continued to take a direct toll on the market.

The treasury's disappointment.

Investors dumped stocks after Treasury Secretary Geithner failed to deliver the specifics that investors sought from Treasury's financial rescue plan.
Treasury failed to provide clarity on how it will handle the toxic assets that are driving losses and write-downs on bank balance sheets. Recognition that this part of the plan has yet to be finalized creates an impression that Geithner still doesn't have a complete solution to the situation.
Disappointment in Treasury's plan left market participants disinterested in the Senate's $838 billion economic stimulus bill. The bill was passed midday, but it has been relegated since it aims to drive long-term economic growth, rather than provide a short-term lift.
Federal Reserve Chairman Ben Bernanke's testimony to the Financial Services Committee provided some positive points, but did little to ease selling pressure. He stated extraordinary programs have improved market conditions and eased strains. He also indicated the U.S. remains well capitalized and the Fed will be able to offset any losses through eventual gains on asset sales.

Tracking the Dow On Tuesday,10/02/09
9:30am:--A 80.00 points gap down.

Awaiting the Senate's final vote for the economic stimulus plan, which is expected today.

10:30am:--No sign of gap filling,session low with bearish inverted hammer.

Financial stocks are leading the broader market lower.

11:30am:--A bearish marubozu and spinning bottom.

Enthusiasm for Treasury's plan has dwindled since the larger themes of the plan have leaked. Private and public funds are expected to help sop up bad assets, while existing lending facilities are to be expanded, and additional steps will be taken to stem home foreclosures.

12:30noon:--Hoovering at morning session low with a long bearish candlestick.

The bill passed as the Commerce Department reported wholesale inventories fell a more-than-expected 1.4% during December. The data marked the fourth straight monthly decline.

1:30pm:--Mild technical rebound with a shooting star.

The mood among market participants remains dour.Treasury failed to deliver the specifics sought by market participants in a bank recovery plan. Stocks continue to trade near session lows.

2:30pm:--Another bottom of the day with a bullish hammer .

Stocks fall to session lows as Fed Chairman Bernanke participates in a question and answer session with the House Financial Services Committee.

3:30pm:--The bottom of the day completed.

Bernanke said that all banks can participate in lending programs, not just those that are "too big to fail." He also said that Treasury Secretary Geithner should bring back "price discovery."

4:00pm:--Closing recovery.

A triple bottom noticed,a strong short-covering rebound is imminent.

Tuesday's candle is a house-cleaner wiping off the previous day's gains.

Next Friday 20th is the Dow Index Expiry Day.