Jollibee Fast Food

Jollibee is a Philippines based fast food franchise which began as a two-branch ice cream parlor in 1975 offering hot meals and sandwiches became incorporated in 1978 with seven outlets to explore the possibilities of a hamburger concept.

It became the first Philippine fast food chain to break the P1 billion sales mark in 1989. In 1993, Jollibee became the first food service company to be listed in the Philippine Stock Exchange; thus broadening its capitalization and laying the groundwork fo r sustained expansion locally and beyond the Philippines.

With its success, a Jollibee franchise has now a tag price of P25+ Million (US$ 500,000+). Wow!
The founder:-Tony Tan Caktiong the third of seven siblings born to poor parents who migrated from the Fujian province in China to look for a better life here in the Philippines. His father began as a chef in a Chinese Temple. Not later on his father was invited to open a restaurant business in Davao so the whole family moved south.

Tracking the Dow on Tuesday,21/07/09.
9:30am:--A strong bullish open of about 80.0 points followed by a bearish spin.
A boost from Caterpillar (CAT) which reported second quarter earnings per share of $0.72, easily ahead of the $0.22 First Call consensus.

10:30am:--Opening gap being filled 3/4 of the body and rebounded to end with a bearish engulfing.

With the Dow near its high point for the year, there is an expectation from the bears a pullback of some sort is inevitable.

11:30am:--Bearish hammer filling up fully the opening gap.

Federal Reserve Chairman Ben Bernanke, said in both a Wall Street Journal op-ed column and in congressional testimony that the central bank will move to curtail inflation only when the economy is moving quickly enough to warrant tighter policy.
12:30noon:--No sign of retracement to the morning session MAV line.Current situation is a bearish harami.

Oil futures rose 74 cents to $64.81 per barrel in New York.

1:30pm:--A rebound from day's low now with the inverted bullish hammer and dragon-fly doji's
securing its position.

U.S. Federal Reserve Chairman Ben Bernanke said in testimony before a congressional panel that mounting joblessness, slumping home values and tight credit were likely to curb consumer spending -- a major driver of U.S. economic growth and corporate profits.

2:30pm:--A bearish harami.

Traders are digesting the Fed's testimony.In regulatory news, the U.S. Treasury Department sent to Congress a draft bill that would curb the power of credit ratings agencies.

3:30pm:--A last minute retracemnt to MAV line.

Investors were paying close attention to financial reports from the second quarter for a sense of how companies are managing to navigate the downturn.

4:00pm:--Two bullish hammer and a last bull to end the 6 month high bear rally.

A slight pause and pullback is inevitable.

Weak bulls have been lifting the Dow for the past few days and I presume that they are trying to take a brake with a final spinning doji which has a longer lower shadow.

Their resting point might be at the first spin of Thursday after a big spike up.

Federal Reserve Chairman Ben Bernanke told lawmakers Tuesday that the economy has started to show signs of stabilization, although he cautioned that improvement is uncertain and likely to be gradual going forward.