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.