Dubai Shakes.

Dubai (in Arabic:Dubayy) is one of the seven emirates and the most populous state of the United Arab Emirates (UAE). It is located along the southern coast of the Persian Gulf on the Arabian Peninsula. The Dubai Municipality is sometimes called Dubai state to distinguish it from the emirate.
Dubai and Abu Dhabi are the only two emirates to possess veto power over critical matters of national importance in the country's legislature.

The DIFX stock exchange opened in 2005 in the Dubai International Financial Center (DIFC) to provide a stock market for international and local stock listings. Stocks are denominated in US$ rather than UAE dirhams.On 06 May 2008, the Abu Dhabi Securities Market announced that it would be rebranded as the Abu Dhabi Securities Exchange (ADX), not ADSE or ASE.

(aerial photo of Dubai World-Jumeirah Palm)

Comments by Sheik Ahmed bin Saeed Al-Maktoum, the chairman of Dubai's Supreme Fiscal Committee, came as world markets reacted in shock to what some analysts indicated amounted to a default Dubai World, the city-state's key engine of growth with interests ranging from ports to real estate.

A top Dubai finance official said the emirate fully expected fallout from its debt problems and assured foreign creditors that Dubai World's request to postpone payment on some of its $60 billion in debt was "carefully planned."
He called the Dubai World's debt freeze request a "sensible business decision" and said Dubai's leadership had to intervene when it did "because of the need to take decisive action to address its particular debt burden."

Abu Dhabi, the oil-rich emirate home to the UAE's federal government can never go bankrupt because of the free flow of hard money (oil) while Dubai lacks oil wealth.

"Some of Dubai's entities are commercial, semi-government ones. Abu Dhabi will pick and choose when and where to assist."The debt crunch confronting two of the kingdom's largest privately held conglomerates earlier this year were only made known when the news filtered out as the companies fought each other in court, with one accusing the other of fraud.

Burj Dubai, the world's tallest.
The Dubai property industry is dogged with con-artists and scammers even fake leasing fraud.

Instances like the fictitious London firm called Cambridge Capital Trading to persuade investors into investing money in offshore options trading.The fraudsters had set up fake websites called the Dubai Options Exchange, a fake regulator called the United Arab Emirates Commodity Futures Board.To further disguise the scam, electronic answering devices, a phoney facsimile and false billing addresses for the websites were set up in Dubai, the UK and the USA.
"Swindlers, con men, and thieves could siphon off as much as $50 billion of the government's planned stimulus package as the money begins flooding the economy in coming months, according to David Williams, who runs Deloitte Financial Services Advisory and counsels clients on fraud prevention.(12/06/2009)marketwatch.com"
(photo) The aquarium tunnel at Dubai Mall in Dubai, United Arab Emirates.
Dubai's diverse economy and multi-national population make it attractive to money launderers who try to transfer large sums using e-mail and text messages. Those approached by launderers said that they received anonymous e-mails or text messages offering them premiums to deposit millions of dollars in their bank accounts, the Middle East Times reported. A substantial number of these e-mails originated from Africa, police say. Dubai is now the HQ for the Nigerian scam.

The Dow on Friday 27/11/09 is 15 days to Quadraple Witching.

The Witches have started their mischief on the eve of Asian Index Futures Expiry.
The Dow has issued a hangman/bearish hammer early warning followed by a bull trap spinning top.

Seems that the hedge funds are working hand in hand with the Dubai scammers.

Where on earth should the Sheiks issued a last minute bombshell on the eve of a double festivals (Thanksgiving Day & Awal Muharram) which falls on Friday and using a holiday gap to create a market correction?Tuesday's candlestick is a reflection of a coordinated scam otherwise how can the Dow pullback to touch the MAV.A small peanut country threathening the world's financial.

Ecuador oil for PetroChina.

OFFICIAL NAME: Republic of Ecuador
GeographyArea: 276,840 sq. km; about the size of Colorado.
Cities: Capital--Quito (pop. 2 million).
Languages: Spanish (official).
Independence: May 24, 1822 (from Spain).
Natural resources: Petroleum, fish, shrimp, timber, gold, copper.
Agriculture Products--bananas, seafood, flowers, coffee, cacao, sugar, tropical fruits, palm oil, palm hearts, rice, corn, and livestock .
Currency: U.S. dollar.
The World Economic Forum's Global Competitiveness Index rated Ecuador 105th out of 133 countries for 2009.
Main Stock Exchange:Bolsa De Valores de Ecuador.

Central Bank:Banco Central Del Ecuador

State-owned PetroChina is negotiating with Ecuador for future oil purchases of 96,000 barrels per day over two years, in a move to diversify its oil import sources.
PetroChina is talking with the South American country for an advance payment of $1 billion for the future oil purchases, Diego Borja, minister of economic policy coordination of Ecuador, told Dow Jones.
As part of the negotiations, Ecuador is asking that China uses the crude oil for final consumption and doesn't sell it to Peru or Chile as that would distort the market, Borja said.
PetroChina has been present in Ecuador since 2003 and now operates two projects in the country. It also provides oilfield services.
In 2003 PetroChina took over an oil block in eastern Ecuador from Petroecuador, and started oil and gas exploration and development in this block. In 2005, PetroChina and Sinopec jointly purchased oil and gas assets from Encana in Ecuador, and established Andes Petroleum Ecuador Ltd, with CNPC holding a 55 percent share.

The Dow on wednesday 25/11/09 is 16 market days to Quadraple Witching Day.

Asian Index Futures Expiry:2 market day to go.
9:30am:--A gap down opener but bulls immediately filled the gap.

10:30am:--First hour shooting star pullback met by a bullish harami.

11:30am:--Second hour session high with slight pullback being checked by inverted bulls.

12:30noon:--Time for morning session correction by dragging it to MAV support.

1:30pm:--Consolidating above the MAV line with indecision doji.

2:30pm:--Ascending soldiers being hit by shooting stars.

3:30pm:--Holding position at the bull pivot with intermittent bears sniper attack.

4:00pm:--Bullish engulfing.

It's a walkover for the bulls.The targeted breakout of the 52 weeks high is quite possible to be materialised in the near term.

With all the stimulus package and a disastrous US dollar holding for nearly a year,the aftermath results will augurs well for the US economy on the whole.

This month must be the best performer having secured over 780.0 points for the Dow.

Chile has the world's largest copper mine.

Situated south of Peru and west of Bolivia and Argentina.

Chile won its independence from Spain in 1818.Capital city:Santiago.

Chile fills a narrow 2,880-mi (4,506 km) strip between the Andes and the Pacific. One-third of Chile is covered by the towering ranges of the Andes.

In the north is the driest place on Earth, the Atacama Desert, and in the center is a 700-mile-long (1,127 km) thickly populated valley with most of Chile's arable land.

At the southern tip of Chile's mainland is Punta Arenas, the southernmost city in the world, and beyond that lies the Strait of Magellan and Tierra del Fuego, an island divided between Chile and Argentina.

The southernmost point of South America is Cape Horn, a 1,390-foot (424 m) rock on Horn Island in the Wollaston group, which belongs to Chile. Chile also claims sovereignty over 482,628 sq mi (1,250,000 sq km) of Antarctic territory; the Juan Fernández Islands, about 400 mi (644 km) west of the mainland; and Easter Island, about 2,000 mi (3,219 km) west.
In Chile, BHP Billiton(Australia) owns the Cerro Colorado and controls and operates Escondida, the world's largest copper mine.

Its 560 strong union workers lately caused a shutdown in ore extraction for nearly 42 days which started on Oct 13 due to striking dispute over wages and benefits packages.

This strike causes a lost of 500 tonnes a day as the open-pit Spencer mine can produce 164,000 tonnes of copper cathode.

At Cerro Colorado, it finally reached an early, 41-month agreement last week, ahead of the January 31, 2010, contract expiration date. In mid-October, it reached an early agreement, also for a 41-month period, with Escondida workers ahead of the December 5 contract expiration date.

Finally,the union has accepted a 41 month wage and benefits packages that included a 4% wage increase,a US4,000 interest free loan, and an end-of-negotiation bonus of US14,200 per worker.
***

Chile has it's very own stock exchange called The Bolsa de Comércio de Santiago (Santiago Stock Exchange, SSE)The exchange trades in stocks, bonds, investment funds, stock options, futures, gold and silver coins minted by the Banco Central de Chile, and US dollars on Telepregon, its electronic platform.

The Dow on Monday,23/11/09 is the start of new index/option futures month.
Asian Index futures is starting the roll-overs of contracts today.
9:30am:--A hefty 90.0 points gap up.

10:30am:--Session high with a nearby hangman.

11:30am:--Opening market gap up no way to be filled due to the distance,now there's a hangman.

12:30noon:--Pullback to the bull pivot support.

1:30pm:--A shooting star after nearly an hour consolidation.

2:30pm:--Ascending soldiers.

3:30pm:--Bears attempt to bring it down the the day's MAV support.

4:00pm:--Bullish engulfing.
The start of new contract month(November)with a big bang.The bulls have pierced through the 52 weeks bull pivot top resistance and by next month will be a breakout of the whole of 52 weeks candlestick.

Investors will become fearful at this event but there's nothing to worry as the next presidential election be it in the US or Far-East are still four to five years away.Most of these government will try to make a good presention to the people in the hope of extra votes.

Venezuela an oil rich Latin America country.

Venezuelan President Hugo Chavez signed a 16-billion-dollar deal with China to drill for oil in the resource-rich Orinoco basin.

China National Petroleum Corp (CNPC), the country's largest oil and gas producer would form a joint venture with state-owned Petroleos de Venezuela (PDVSA) to produce 450,000 barrels a day of extra heavy crude.

Venezuela sent an average of 385,000 tons of fuel oil each month to China in the first half of 2009.

Venezuela, a founding member of the oil cartel OPEC and Latin America's top oil exporter had also signed a similar accord with a Russian consortium. The deal will see the group of five Russian companies invest more than 20 billion dollars over three years, and gives them rights to drill for oil in the Junin-6 block of the Orinoco oil belt. That joint venture is also expected to produce 450,000 barrels a day by 2012, Chavez said. Oil-rich Venezuela claims current proven reserves of some 142.3 billion barrels, but Venezuelan experts believe the Orinoco basin could hold an additional 235 billion barrels.

Venezuela's capital city,Caracas has its very own Stock Exchange known as BOLSA DE VALORES DE CARACAS.
Petroleos de Venezuela SA is ranked 27 in the 2009 Fortune Global 500 list.
The Petroanzoategui field and upgrader in the Orinoco belt was controlled by ConocoPhillips until being nationalised in 2007 and is now owned by Venezuela's PDVSA.

Petroleos de Venezuela (PDVSA) has issued more than $6 billion-worth of US dollar-denominated bonds so far this year, ostensibly to fund growth and help pay some of the money it owes service providers, but, say critics, the bond sales are used to help the Venezuelan government bring in much-needed hard currency.

The Dow at October index Futures/options Expiry Day.

9:30am:--Bearish 30.0 points start followed by gap being fully filled.

10:30am:--Shooting star at near session high.The usual time for pullback.

11:30am:--Finding a low with dragonfly doji.

12:30noon:--Usual time must find retracement but managed at bear pivot with inverted bull.

1:30pm:--Decision time for the day,a dragonfly doji noticed.

2:30pm:--MAV resistance breakout...a hammer for pullback.

3:30pm:--Ascending bulls with final peak and shooting star.

4:00pm:--Bulls held it near the bull pivot looking forward to a new index month.

A Double support at the bull pivot point augurs well for the ensuing bulls.This is an anticipated pullback in time for the October Index Futures expiry and a migration to a new November month.
Investors grew uneasy about a rising dollar and spiking demand for the safest government debt.
They have become more sensitive to signs of weakness as they sought to justify lofty share valuations.

Federal deficit undermines growth

The United States government has spend trillions of dollars in order to weather the financial crisis. In one hand, the massive fiscal and monetary stimulus has been stimulating the world’s largest economy.
But on the other hand it is also likely to undermine long-term growth prospects as the nation will have to take the burden of rising federal deficit and national debt.
Indeed, the national debt has recently reached $12 trillion and with the current pace of growth will probably overpass the overall size of the economy as measured by Gross Domestic Product. Moreover, the federal deficit has hit an all time high of $1.42 trillion in 2009; more than tripling the 2008 figure.
So, it’s possible that a large deficit and national debt may crowd out the positive effects of monetary and fiscal stimulus because it is likely that sooner or later the federal government will need to increase taxes to cover the deficit which in turn may dampen consumer spending and business investments.
Also, so far there is little competition for US Treasuries as safe haven assets but with a rising national debt, questions over its sustainability will start to be raised. This will drive yields up and push up real interest rates which will make credit less available for businesses and individuals. Higher interest rates will also make national debt more expensive.
In addition, there is another danger by the corner. In order to provide further monetary stimulus, the Federal Reserve may use so called debt monetarization. In fact, one of the best ways to finance spending is to issue bonds and sell them to investors. However, treasuries may go back to country balance sheet as the Fed prints extra money and buys bonds back in the open market operations.
Yet, the increase in money supply typically leads to higher inflation because there is more money available in the system for the same quantity of goods. And with rising consumer prices everyone loses purchasing power because our savings are worth less as we need to pay more for the same products. To make things even worst, the next step in this vicious-circle is generally higher interest rates as lenders demand a higher compensation for the lost value of their money.
The Dow on Thursday is One market day to Index Futures Expiry for October month.
Thanksgiving Day today.

9:30am:--A 90.0 points unshaven top slide.

( Losses in overseas trade, a stronger dollar influence the early going)

10:30am:--No sign of opening gap being filled.

(an in-line jobless claims tally has no effect)

11:30am:--Morning sesssion retracement should occur,dragonfly doji seen

12:30noon:--Retracement to bear pivot met with a shooting star.

( President Obama is looking to extend the life of the $700 billion financial bailout.)

1:30pm:--Another inverted bullish hammer at the bear pivot.

(the OECD sees U.S. GDP growth at 2.5% in 2010 and 1.9% for its collective 30-member nations)

2:30pm:--Dragonfly doji having penetrated the bear pivot.

(Leading economic indicators for October increased 0.3%, which is not as strong as the 0.4%)

3:30pm:--An inverted hammer heading for the MAV resistance.
The Philadelphia Fed Survey for November came in at 16.7, which is better than the reading of 12.2 that had been widely forecast and is also better than the October reading of 11.2.

4:00pm:--Holding above the MAV with slight profit taking,good sign

A bearish unshaven hammer candlestick make up of Thursday's closing attempting to pierce through the bull pivot.

The long lower shadow has hit last Friday's bull slightly and has withdrawn its plan.So it's time for a new index futures and options month in time for the Christmas rally which is also in the last quarter of the year with a quadraple witching month.
A stronger dollar has knocked the wind out of commodities-related shares.

Banco Bradesco-Brazil.

The Federative Republic of Brazil occupies nearly half of South America continent.It's the fourth most populous democracy in the world.

There are 50 blue chips companies to form the index of the Bovespa.
Banco Bradesco SA ranked 148 in the 2009 Fortune Global 500 list.

also known as Banco Brasileiro de Descontos, that is 'Brazilian Discount Bank', is one of the Big Four bank.(Banco do Brasil,Banco Itau Inibanco,Santandar Brasil)
It is a financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money. It is an institution for receiving, keeping, and lending money. It has more than 3,235 branches.
Internationally, Bradesco has branches in New York, Grand Cayman,Luxembourg,Buenos Aires,Japan and Nassau.

Banco Bradesco is constantly expanding and has recently acquired Banco do Estado do Maranhão, Banco Mercantil de São Paulo, and the Brazilian operations of Banco Bilbao Vizcaya Argentaria
Bradesco's stock is traded on BM&F Bovespa, where it is part of the Índice Bovespa index of about 50 stocks that are traded on the Bovespa .The index is composed by a theoretical portfolio with the stocks that accounted for 80% of the volume traded in the last 12 months and that were traded at least on 80% of the trading days. It is also listed on the New York Stock Exchange and Madrid Stock Exchange.
The Dow on Tuesday,17/11/09 is 3 days to index furtures expiry.

9:30am:--A 20.0 points opening slidefollowed by dragonfly doji.

10:30am:--After filling the opening gap,index is now at its double top.

11:30am:--Pullback to find another session low with a morning star pair.

12:30noon:--Retracement to end the morning session at a new high being held back by a bearish hammer.(Industrial production for October increased less than expected)

1:30pm:--After pulling back to morning MAV support,rebounded with bullish engulfing.

2:30pm:--A pullback to bull support line with another bullish engulfing held back by a shooting star.

3:30pm:--Bullish dragonfly doji at another high.

4:00pm:--Fresh bull closing the day's high.
The bulls never give up.Any pullback is again marginally within the bull support line.

5 days weekly chart of Bradesco Bank listed on Bovespa.(Brazil)

The range is very small and a real lower shadow has not been established.

The tri-star spinning dojis with long lower shadows will be a big concern.

Any pullback heading towards the MAV support is at risk.

Gold/Silver Discovery at Dos Calandrias - Argentina

Mariana Resources Ltd, the AIM quoted exploration and development company focussed in Argentina and Chile, is pleased to announce asignificant new gold-silver discovery at its 100% owned Dos Calandrias Project ('Dos Calandrias') located in the prospective Deseado Massif region in southern Argentina. The discovery was confirmed following results from the first eight holes of a 16 hole diamond drilling programme at the Calandria Sur prospect.

This is the first mineralisation of its type to be found in the Patagonia region,

Leading geological consultant and epithermal specialist Dr. Richard Sillitoe, on a two-day site visit to appraise the significance of the Dos Calandrias drilling results conclude that the Calandria Sur prospect is a low-sulphidation epithermal discovery located along the margin of an extensively hydrothermally brecciated rhyolite dome ('HBD').The mineralisation appears to possess bulk tonnage potential in being disseminated and not reliant upon identifiable veins.

Tracking the Dow,Monday 16/11/09.(4 market days to Index futures Expiry)
9:30am:--Bullish 60.0 points spike up.

October retail sales up 1.4%,booster.

1o:30am:--First hour high shooting star pullback(Broad-based buying)

11:30am:--Bullish engulfing to second hour high.(Business inventory data for September showed a 0.4% decrease)

12:30pm:--Usual time for pullback to MAV or bull pivot point.(the Dollar Index extends its slide)

1:30pm:--Holding at opening noon session high with bullish inverted hammer. (focusing Fed Chairman Bernanke at the Economic Club of New York.)

2:30pm:--Bearish hammer,hangman.(Fed says labor market is getting worse more slowly.)

3:30pm:--High of the day with pullback fall short of reaching the MAV.(influential analyst Meredith Whitney during a CNBC interview said that she expects banks to raise another round of capital...so powerful speech to affect market move)

4:00pm:--Bullish tone still on.
A new high for the month and any slight pullback is minimal within a small range.Daily volume has also picked up.

Meanwhile,the central bank will monitor the sliding U.S. dollar but pledged anew to keep interest rates at record-lows to nurture the economic recovery.

Wal-mart Mexico.

Wal-Mart de Mexico, is a Mexican blue-chip company, which is 31% owned by the American retail giant Wal-Mart Stores, Inc. It has been traded at the Mexican Stock Exchange since 1977 and is Mexico's eighth largest discount retail store.
Wal-Mart operates over 1,249retail outlets in Mexico including restaurants and supermarkets, under the names Walmart, Superama, Suburbia, VIPS, Sam's Club and Bodega Aurrerá. The company is now Mexico's largest private sector employer. It competes fiercely with Soriana, Comercial Mexicana, Casa Ley, Chedraui and H-E-B.
WAL-MART-V (Stock quote:-WALMEXV.MX)

Seems that Walmart Mexico's stock price is getting stronger and stronger to pierce through the 52 weeks high.

Thursday closing price:50.240MXN.

The pullback was healthy and rested on the bull pivot.

The entry of Wal-Mart into banking in the U.S. and Mexico signals a tectonic shift in the landscape of retail financial services on both sides of the border.

The Dow.Thursday 12/11/09 is 6 market days to index/options expiry.
Friday is the PIVOT Day of the month.
9:30am:--Weak bear open.

10:30am:--Pullback to first hour MAV whith bearish hammer and bearish spin.

11:30am:--Holding at hourly low with triple bears.

12:30noon:--Morning session consolidation time but holding at low,no good sign.

1:30pm:--Opening yet another low,bearish doji star.

2;30pm:--Bearish engulfing,another new low.

3:30pm:--Sliding to the final day low.

4:00pm:-Technical recovery attempting to pierce thru bear pivot resistance.(10,208.84).Good sign follow through.

Initial jobless claims for the week ending November 7 totaled 502,000 within expectation.
The dollar's gains have suppressed interest for stocks this session particularly burdensome for commodities.

The pullback is still fall short of Monday's half candlestick body and as soon as been filled will stage a rebound for the second half season of the month when the October index futures are due for expiry.

APEC meeting now in Singapore.

Asia-Pacific Economic Cooperation, or APEC, is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region. APEC is the only inter governmental grouping in the world operating on the basis of non-binding commitments, open dialogue and equal respect for the views of all participants. Unlike the WTO or other multilateral trade bodies, APEC has no treaty obligations required of its participants. Decisions made within APEC are reached by consensus and commitments are undertaken on a voluntary basis.

APEC's 21 Member Economies are :

APEC Member Economies ( Date of Joining);

Australia(6-7 Nov 1989); Brunei Darussalam(6-7 Nov 1989); Canada(6-7 Nov 1989)
Chile(11-12 Nov 1994); People's Republic of China(12-14 Nov 1991)
Hong Kong, China(12-14 Nov 1991); Indonesia(6-7 Nov 1989); Japan(6-7 Nov 1989)
Republic of Korea (South Korea)(6-7 Nov 1989); Malaysia(6-7 Nov 1989)
Mexico(17-19 Nov 1993); New Zealand(6-7 Nov 1989); Papua New Guinea(17-19 Nov 1993)
Peru(14-15 Nov 1998); Philippines(6-7 Nov 1989); Russia(14-15 Nov 1998)
Singapore(6-7 Nov 1989); Chinese Taipei (Taiwan)(12-14 Nov 1991); Thailand(6-7 Nov 1989)
United States of America (USA)(6-7 Nov 1989); Viet Nam(14-15 Nov 1998)

Ministers from the Asia-Pacific Economic Cooperation (APEC) forum were meeting in Singapore ahead of a weekend summit involving US President Barack Obama, Chinese President Hu Jintao and 19 other regional leaders.

The Dow tuesday 10/11/09 is 8 market days to expiry.

**the Seventh day before expiry=Pullback.
9:30am:--Bearish 18.0 point start with bullish engulfing.

10:30am:--Session high with hammer and bearish stars.

11:30am:--Pullback to near open ready for retracement to MAV.

12:30noon:--Another pullback to lower than opening day price followed by morning star.

1:30pm:--Bulls trying to hold at the bear pivot.

2:30pm:--Retracement to MAV,piercing through again held back by bearish spinning stars.

3:30pm:--Bearish hammers after having made to the day's high a second time.

4:00pm:--Last minute short-covering,...not genuine.
There haven't been any major economic releases or outstanding commentary from Fed or Treasury officials but the hedge funds created their own theme with this intraday high volatility.

Any pullback will be within the bull pivot zone.

Meanwhile,the Senate Democrats on Tuesday proposed stripping the Federal Reserve of its supervisory powers and creating instead three new federal agencies to police banks, protect consumers and dismantle failing institutions.

Indonesia's finance minister

Indonesia's finance minister Sri Mulyani Indrawati arrives at the Fairmont Hotel, in St Andrews to attend a G20 Finance Ministers and Bank Governors Meeting.
She also said the country could issue a euro bond soon to take advantage of strong demand for emerging market assets. Asked if the government planned to return to international capital markets before the end of 2009, Sri Mulyani said, “Yes, I think so. The financing environment is quite dynamic for us.”
The Indonesian rupiah has gained 16 percent this year, nearly twice as much as the South Korean won, the second-best performer among Asia’s 10 most-traded currencies.
The Dow on Monday 09/11/09 is 9 market days to Index Futures Expiry.
The Nikkei Index Futures is 4 market days to expiry.
9:30am:--A 100.0 points bullish open.
10:30am:--First hour high slight pullback.

11:30am:--Another high also with pullback.

12:30noon:--Consolidation at near morning session high.

1:30pm:--A spike up open for second session of the day.

2:30pm:--Aggressive bulls another high.

3:30pm:--A pullback.

4:00pm:--Ending the day with a bullish closing.
The bulls are aggressively pushing forward its offensive and has covered 515.0 points since the opening while the bears cornered a mere 65.67 points and has thus conceded the race.

News that members of the G-20 and Treasury Secretary Geithner maintain the view that economic stimulus should not yet be withdrawn led to heavy selling against the U.S. dollar and drove the Dollar Index back to 2009 lows.

Siam Commercial Bank Loy krathong Nite.

Siam Commercial bank (SCB) was the first Thai bank established in 1907 .As of June 2009, SCB had the highest market capitalization among Thai Financial Institutions (Baht 246 billion) and has asset size of Baht 1,299 billion - the third highest in the country.
On the 2nd November2552,Thailand celebrates the Loy Krathong festival. It takes place at a time when the weather is fine as the rainy season is over and there is a high water level all over the country and a yearly event.
***Thai calender year is marked (2009 + 543 =2552)
***SIAM is the old name for Thailand with its capital city in ancient Ayutthya.

“Loy” means to float and a “Krathong” is a lotus-shaped vessel made of banana leaves. The Krathong usually contains a candle, three joss-sticks, some flowers and coins.Streets vendors here are superb in this hand made craft most of whom are the woman folks.

There goes the krathongs thanking the Goddess of water floating all over the canals,khlongs,rivers and ponds.Whatever bad luck in the stock market can also be washed away in this auspicious festival.
Siam Commercial Bank held this eventful day for its valued customers and employees at this International Trade Service Centre which is just 300meters from the Menam Chao Phraya,the longest river in Thailand.It's near Bangkok Royal Orchid Sheraton Hotel.
Any international business people needing Trade Information Sources or Trade Contacts in Thailand will find this centre useful for a startup.

The buffet party with many games stores as well were held within the vicinity of the building compound coupled with a live band orchestra entertaining its guest.This view is seen from the extremely pack river cruise boat.

A closeup view of the building front facing the river.

The main entrance is by the side with a large colonial style stairway and having large portraits of King Rama V and King Mongkut welcoming its visitors,a nice architectural design building.
Inside the building near the conference room,there were many portraits of all Siam previous kings.This photo here is HRH Prince Jayanta Mongkol,Prince Mahisara Rajaharudaya.(January 30, 1866 - April 15, 1907) is a son of King Mongkut, Rama IV.He is the founder of Siam Commercial Bank,and also known as "Father of Thai Banking"
The start of the celebration with this grand half hour fireworks display illuminating over the skyline of Bangkok city on the Chao Phraya.The huge crowds which includes myriads of foreign tourists from all over the world helps boosting the Thai economy.
In the Northern Provinces,Chiangmai the second largest city in Thailand,also the second home of most westerners is the focus point.The crowds here includes the locals and higher degree of multi-international tourist.

In this photo the "farangs" or westerners were also participating in lighting the huge lanterns to be released towards the sky.It's called the Yee Peng Festival.
Yee Peng is the annual festival held to celebrate the full moon in the northern capital of Chiangmai on the day proceeding Loy Krathong by one day in November. The word “Yee Peng ” is the northern Thai terms referring to the full moon of the 12th lunar month in the Buddhist calendar.

Last Update 06 Nov 2009 16:59:57
Last:Baht83.00 (+4.25 )(+5.40%)
Prior:Baht78.75
Open:79.75
High:83.00
Low:79.50
Volume (Shares):12,158,800
Value ('000 Baht):985,257
Average Price*:81.03
* Automatching on Main Board Only
Par (Baht) :10.00
Ceiling(H):102.00
Floor(L):55.25

The first week Dow's candlestick is already a confirmed bullish candlestick.Bulls are 232.41 points ahead of the bears:33.69.

Next month December is the last quarter of the year,most funds are again repositioning their portfolios in November ahead of a shorterned holiday season trading market next month.December is also the Quadraple Witching month so expect very high degree of volatility as seen during the first week November's trading days.That is the many "tail"(upper and lower shadow of a burnt candlestick.)It is wise to execute very short term trading to capitalise on the high volatility opportunities.