Goodbye 2009,welcome 2010 tonight.

Japan Airline in dire state.

Japan Airlines Corporation is near to bankruptcy.

Requested an injection of public funds from the Enterprise Turnaround Initiative Corp. of Japan, a corporate rehabilitation agency set up by the public and private sectors.

If the application is accepted, the agency will attempt to help rebuild its operations within three years.The agency is expected to become a major shareholder by investing hundreds of billions of yen in the airline, and to send in a new management team to oversee the rehabilitation.

JAL's debts rationalisation:

1) have exceeded its assets by at least 250 billion yen

2) the airline needs to bolster its capital by 300 billion yen by the end of March,.

3) suggested JAL's creditor banks write off debts worth 220 billion yen and convert debts worth 30 billion yen into company shares.

4) The plan called for JAL to shed about 9,000 employees from its group workforce of 48,000 and scrap 45 routes, or more than 10 percent of its domestic and international routes.

5) The government will consider lowering airport landing fees, among other measures designed to ease the financial burden on the company and guaranteeing 180 billion yen in bridge loans from the Development Bank of Japan that JAL needs to secure by the end of November.

6) it will consider enacting legislation to forcibly reduce pension benefits to JAL retirees due to criticism of the use public funds to rescue the company.

Shares in the airline slid to 60 yen at one point, the lowest level since JAL merged with Japan Air System Co. in 2002. They ended the day down 23.9 percent at 67 yen, after an 8.3 percent dive on Tuesday'

Japan Airlines (JAL), the country's premier air carrier is another "too big to fail" entity.

A national icon that has fallen on hard times, not just buffeted by cruel economic circumstances but by its own missteps and generous pensions.

American Airlines announced late last week that it might team up with private equity firm TPG to invest some US$300 million in JAL. The two airlines are members of the Oneworld aviation alliance; teaming with Delta would require JAL switching to SkyTeam, a costly and complicated transition. Delta said on Wednesday that it and partners in the SkyTeam alliance were prepared to offer JAL a support package totaling US$1 billion in investment, revenue guarantees and financing, Reuters reported.

Tracking the Dow Wednesday,30/12/09

9:30am:--Bearish 30.0 points gap down spillover from overnight action.

10:30am:--Retracement short-covering filling the open gap reaching session high with bearish evening stars.

11:30am:--Another pullback breaching the MAV support line.Morning stars formed by the spinning bullish doji.

12:30noon:--Another short-covering bringing to near day's high.Bears inturn spike it down again.

1:30pm:--At the MAV supporting line again with short-covering.

2:30pm:--Indicies holding near the bull pivot with dragonfly dojis.

3:30pm:--Pullback again to the MAV support line for the second time.

4:00pm:--Strong ascending bulls ended the day.

The absence of many meaningful news items and the fact that many trading desks are thinly staffed ahead of the New Year's holiday has a resultant thin trading volume with the short-sellers having a pre-New Year Day holiday party.

They can easily manipulate the market and cause these choppiness.

Stronger-than-expected report on Midwest U.S. business activity was offset by investors taking profits.

The U.S. dollar hit a three-month high(92.4450) against the yen on year-end flows in thin trade and the belief that the U.S. economy is on the road to recovery.

Kazakhstan also has large oil wells.

Astana is the capital and business center of Republic Kazakhstan.A new cosmopolitan western-style city with skyscrapers and offices of intercontinental oil corporations.
The ninth largest country in the world and part of Eurasia.With 16.4 million people (2009 census), Kazakhstan has the 62nd largest population in the world.
Following the 1917 Russian Revolution, and subsequent civil war, the territory of Kazakhstan was reorganised several times before becoming the Kazakh Soviet Socialist Republic in 1936, a part of the USSR. During the 20th century, Kazakhstan was the site of major Soviet projects, including Khrushchev's Virgin Lands campaign, the Baikonur Cosmodrome, and the Semipalatinsk "Polygon", the USSR's primary nuclear weapon testing site.
An independent country on December 16, 1991, the last Soviet republic to do so.
The giant Karachaganak field.
The state-owned KazMunaigas, is negotiating to take a share in Karachaganak(one of three Kazakh oil deposits handed to foreign consortia for development in the 1990s). It is now operated by a group made up of BG and Italy’s Eni with US giant ChevronTexaco and Russia’s Lukoil.The talks over a stake come amid a tax dispute between Kazakhstan and the group.
The field holds an estimated 2.4bn barrels of oil and 15,000bn cubic feet of gas reserves. The group exports Karachaganak oil to world markets but sells gas from the field to a Russian-Kazakh joint venture at low prices.
The Caspian Sea region contains the third largest reserve of oil and natural gas in the world,rich abundant supply of accessible mineral and fossil fuel resources.The Caspian Sea area is landlocked, thus the only way to efficiently transport the oil to world markets is via pipeline.
One of the world's largest oil fields, the Tengiz in western Kazakhstan, was discovered in 1979.
Khazahstan Stock Exchange Index is now at 1,756.63 points.

Tracking the Dow,Tuesday 29/12/09.
9:30am:--A weak bull 20.0 points gap opener with spinning top.

10:30am:--Session high with shooting stars after prior attempt to fill up opening gap. Home Price Index,in-line with the consensus.The Consumer Confidence Index for December came in at 52.9,widely anticipated.

11:30am:--The opening gap being completely filled forming a graveyard doji.An inverted bull to find a retracement.

12:30noon:--Holding bearishly at bear pivot.A bullish harami sighted.

1:30pm:--Retrace to MAV resistance line but triple hangman giving sign of caution.

2:30pm:--Bears anad hangman below the MAV resistance line.

3:30pm:--A breakout of the MAV resistance line failed to reach the bull pivot.Graveyard doji and shooting star greeted this hour.

4:00pm:--A sudden crash with no basis just to take advantage of weak volume.

The graveyard doji looks threatening but it's not.It just switches off a small portion of Monday's upper candlestick body.

Wednesday is the pivot day of the week and the upper shadow has still room to be lighted up.

It's a new high of the year.The momentum is still there.

Laos open new stock market.

The ancient Lao kingdom of Lan Xang, established in the 14th Century under King FA NGUM. Laos came under the domination of Siam (Thailand) from the late 18th century until the late 19th century when it became part of French Indochina. Laos became a member of ASEAN in 1997.After a period as a French protectorate, it gained independence in 1949.

Lao People's Democratic Republic(a communist country) capital city is Vientianne.

The Scout Motto is (Triam Phrom-Prepared in Lao), and (Sois Pret, Be Prepared in French).
The highest award badge, the Erawan Scout, was red with a triple-headed white elephant on a pedestal beneath a parasol, expressing the ancient name of the country, "Land of a Million Elephants."
GEARING UP FOR THE FIRST STOCK MARKET in 2010.

Communist Laos plans to open its first stock market in 2010 with a $10 million investment from South Korea(51 percent stake) and technical help from Thailand. Shares in three state firms -- a power utility, a telecoms company and a bank -- would be allowed to trade in over-the-counter transactions in a trial run later this year.
One of the poorest countries in Asia, Laos has gradually opened its tiny economy to foreign investment since the Pathet Lao Communists adopted market reforms in the mid-1980s.
In its 2008 outlook, the Asian Development Bank forecast nearly 8 percent economic growth, led by mining and hydropower, for the country of nearly 6 million people.
The Lao trading platform would be based on Korean technology. Thai brokerages companies will also help Lao firms list in both countries.
Of the 30 companies, there are 15 state-owned companies and the rest are joint ventures between the State and private units. Many domestic private companies also expect to be listed on the stock market.

To be registered on the stock market, a company must be profitable for at least one year. It must demonstrate transparency and good management, and have a sound business plan.

The Lao Stock market will be situated on 450 Year Road in Xaythany district and will cost about 50 billion kip (5.9 million U.S. dollars) excluding the cost of information technology (IT) systems installation.
Laos has fewer than 6 million people, about 80 percent of whom work in agriculture. International development aid, mining, logging and tourism have made up the bulk of the $2.5-billion a year economy.

Korea's sixth largest Consulting representative Jisung Horizon, Mr Yang Yong Tae, and Lao Law and Consultancy Group President, Mr Khamsaeng Sayavong jointly will be providing information for foreign companies wanting to invest in Laos.
Tracking the Dow,Monday 28/12/09.(Index & Options Expiry:12 market days)
Asian Index Futures Expiry:31/12/09
9:30am:--A mild post holiday open.Bearish spin within the white candlestick.

10:30am:--Opening gap completely filled.

11:30am:--Retracement to session MAV resistance,shooting stars with hammer.U.S. retail sales increased an estimated 3.6% this holiday season.

12:30noon:--Pullback to session bear pivot,bearish engulfing.

1:30pm:--Double gap cover,bearish engulfing.

2:30pm:--Day's low with gragonfly doji.The Federal Reserve proposed amendments that would enable a term deposit facility that would offer interest-bearing term deposits to eligible institutions.Term deposits would drain reserves to support the effective implementation of monetary policy.

3:30pm:--Retracement to bear pivot,bullish harami.

4:00pm:--Bullish close above candlestick at the bull pivot.

Another 6th days of winning streak.

Trading volume is still very light as players are still on holiday.The ascending bulls is currently holding above the bull pivot and seems difficult to be toppled.It's going higher and higher with intermittent pause.

Greetings from me!!!

Burma Opium king

The late drug kingpin Khun Sa who died in Rangoon in October 2007 was the son of a Chinese father and Shan mother.
He founded in 1963 a local militia in Shan State loyal to the Burmese government, which provided him with money and weapons to help the Burmese army fight Shan rebels.The Shans did not receive their independent state amidst accusations of betrayal during the British Empire.

Opium has been grown in northern mainland Southeast Asia for thousands of years and was accepted in society so long as people did not abuse it and used it only for medicinal purposes. It was the British Empire that converted opium use to the industrial level it subsequently reached. This was a deliberate policy to cause widespread addiction among Chinese people so that Chinese would purchase goods from Britain.

Khun Sa later renamed his militia the Shan United Army and turned to opium smuggling, setting up a base inside northern Thailand in the village of Ban Hin Taek. He joined forces with the Tai Revolutionary Council of Moh Heng and controlled the whole Thailand-Burma border area from Mae Hong Son to Mae Sai,Mae Salong and became one of the key figures in opium smuggling in the Golden Triangle.
Khun Sa surrendered to the Burmese army in 1996 to avoid facing drug smuggling charges brought by the US, which had offered a US $2 million reward for his arrest. He was held under house arrest in Rangoon, where he died at the age of 73.

Eventually, American air power was deployed to search out these fields and now they have been all but eradicated. The problem has not gone away, though, since those involved have switched production to methamphetamines, which can apparently be produced quite conveniently in a small factory.

Singapore is widely reported to be a financial haven for Burma's elite, including its two most notorious traffickers, Lo Hsing Han and Khun Sa.

Lo Hsing Han is the chair of Burma's biggest conglomerate, Asia World, founded in 1992. His son, Steven Law, is managing director and also runs three companies in Singapore which are "overseas branches" of Asia World. Although Singapore is proud of its mandatory death penalty for smalltime narcotics smugglers and heroin addicts, both father and son travel freely in and out of the friendly island-nation. "The family money is offshore," said a high-level US narcotics official. "The old man is a convicted drug trafficker, so his kid is handling the financial activities."

According to a high-level US government official familiar with the situation, Law's wife Cecilia Ng operates an underground banking system, and "is a contact for people in Burma to get their drug money into Singapore, because she has a connection to the government." The husband-wife team are also the sole officers and shareholders of Asia World subsidiary, Kokang Singapore Pte Ltd.

Charnnarong, who is a relative of Khun Sa, had only recently been released in the US after serving a sentence there for smuggling heroin into the country.

Tracking the Dow,Tuesday 22/12/09.Two days to pre-Christmas half day trading.

Asian Index futures expiry:31/12/09 on New Year Eve Day.

9:30am:--Overnight spillover bulls.Unshaven candlestick bottom depicting its strength.

10:30am:--First hour high with hangman.

11:30am:--Pullback to MAV support and then reverse upward.

12:30pm:--Retrace to bull pivot resistance.

1:30pm:--Afternoon session starts with a near high but were hammered.

2:30pm:--Pullback to bull pivot support with a graveyard doji.

3:30PM:--Failed the MAV support line and reverse upward.

4:00pm:--An inverted hammer.Bulls continue their advance.

A suprisingly strong report on housing provided the latest evidence that the economy is picking up speed. The gross domestic product for the July-to-September quarter was weaker but was ignored by the market.

The second day bull is near to breakout of the bull pivot resistance.A mini-year end rally is on the card.

World's biggest high-speed train.

China is investing 2 trillion yuan ($292.9 billion)in a nationwide high-speed passenger-rail as part of its economic stimulus package.
The contractors:-
Montreal-based Bombardier Inc., the world’s largest maker of passenger locomotives, and
Munich-based Siemens AG are helping to build the system. Bombardier’s Chinese joint venture won a $4 billion contract in September to build 80 high-speed trains. Siemens, Europe’s largest engineering company, and Chinese partners received a 750 million-euro ($1.08 billion) order in March for 100 trains.
The centerpiece of this bullet train at 250km per hour service:-
The 1,318-kilometer line with 16 kilometers of tunnels that will cut the trip between Beijing and Shanghai to five hours from 10. Set to open by 2012, the 221 billion-yuan project currently employs 127,000 workers and is the most expensive engineering program in Chinese history, eclipsing the Yangtze River’s Three Gorges Dam, the world’s biggest hydroelectric project, which cost 203.9 billion yuan.
The conventional train fare is definitely cheaper.

Tracking the Dow,Monday 21/12/09.

Asian Index futures expiry:31/12/09.(rollover contract starts next Monday)
9:30am:--50.0 points Bullish open,no economic releases so trading volume could slow.

10:30am:--Session high with bearish engulfing.

11:30am:--Bulls holding,no sign of opening gap being filled.

12:30noon:--Bearish graveyard dojis.Pullback time hour.

1:30pm:--Pullback held at bull support pivot.

2:30pm:--Slight retracement and a double hit at the bull support pivot with bearish advancing soldiers.

3:30pm:--Supporting bulls out of the tow line.Bears hammer.

4:00pm:--Weak last minute retracement,prior to that was a graveyard doji warning sign.Profit taking to follow.

Monday's upper shadow still has room to be lighted again but the closing was just an inch from the MAV support line and might be covered slightly before bulls stage another rally.

No economic news so the analysts created their own theme through merger news,just to please their asian peers who are going to face index and options futures expiry.

Again the analysts are the main benefacto of this spike up taking advantage of the weak volume.

Iran testing the daredevils.

Iraq's capital Baghdad,a country which practises parliamentary democracy.
It gained its Independence - from the Ottoman Empire (October 1 1919) - from the United Kingdom (October 3 1932)
Estimated population in 2006:--26,783,3834
The Republic of Iraq, was known in ancient times as Mesopotamia, the world's first civilization. The ruins of Ur, Babylon, and other ancient cities are there, as well as the legendary location of the Garden of Eden. It was on the banks of the Tigris River, which passes through the capital Baghdad, that writing is believed to have originated.
Maysan province lies in the east of the Iraq, bordering Iran. Its capital is Al Amarah.
Its proven oil reserves of 112 billion barrels puts Iraq second in world rankings, behind only Saudi Arabia, the United States Department of Energy estimates that up to 90 percent of the country's oil resources remain unexplored.
Iranian forces entered Iraq at dawn yesterday and occupied an oil well in the East Maysan oil field.It's planning a new moslem calender year of miltary conquest.The border “is not clearly delineated, is in desert.The Maysan oil fields, also known as Missan, were among the development contracts offered to foreign oil companies in June, though no bids were received.
The shared border of Iran and Iraq is contested territory that has remained an uneasy fault line since the end of a debilitating war that stretched over eight years in the 1980s.
Iran's nuclear technology intention is now in grave doubt about its promise to use for peaceful purposes only, Obama told a news conference at the conclusion of a G-20 summit.
Iran is speeding down a path to confrontation and demanded that Tehran quickly "come clean" on all nuclear efforts and open a newly revealed secret site for close international inspection.
He said he would not rule out military action if the Iranians refuse.
The underground facility, a cluster of 3,000 connected centrifuges, was within a few months of being completed when Iran made the surprise disclosure of the site on Monday to the International Atomic Energy Agency, the nuclear watchdog.
A senior administration official said Saturday that Tehran made the disclosure because it learned the site had been discovered.
Vice President Ali Akbar Salehi, who also heads the Atomic Energy Organization of Iran said the nuclear facility is next to a military compound of the Revolutionary Guard, Iran's most powerful military force, equipped with an air defense system. Salehi also said President Mahmoud Ahmadinejad told him he named the enrichment plant "Meshkat," which means Lantern.

The Dow,Friday 18/12/09 is Quadraple Witching Day.

The Moslem New calender year starts.(Awal Muharram)

Asian Index Futures expiry:31/12/09/(7 days prior,market will spike)
9:30am:--Bullish 50.0 points gap up.Get ready pullback filling gap.Early high shooting star.

10:30am:--Gap filled to nbear pivot with bearish hammer.

11:30am:--Morning session low established,now look forward retracemnt to MAV.

12:30noon:--A breakout of the bear pivot with dragonfly dojis,

1;30pm:--The MAV resistance finally reached for the afternoon session decision.Bearish harmai slowing the process.

2:30pm:--A bullish engulfing holding index near the MAV line.

3:30pm:--Attempted MAV resistance line failed,pullback to near bear pivot.Inverted bull checkmate.

4:00pm:--Last minute injury time short-covering.Closes above the MAV breakout.Bullish.
There aren't any economic announcements today, but trading volume has still been heavy due to the quadruple witching expirations.
Tech stocks led the market higher in choppy trading Friday.

Unemployment rates dropped in 36 states and the District of Columbia.

The Obama administration is setting aside $30 billion from the financial bailout fund for a program designed to encourage lending to small businesses to aid the economic recovery.

The start of a new contract month,December.A morning star pair is being formed.The spinning doji has completed a fraction of previous day.Time to short cover again back to the MAV of the month.

Citigroup tug of war.

The Abu Dhabi Investment Authority (ADIA) vowed on Wednesday to pursue its “legal rights” to settle a dispute with US lender Citigroup Inc. over a two-year-old $7.5 billion stock purchase deal.

Citigroup, in a statement issued late on Tuesday, had said that ADIA, had filed an arbitration claim, alleging “fraudulent misrepresentations”, and sought revocation of the investment agreement or more than $4 billion in damages if the deal is upheld.

Citigroup promised to “vigorously” fight the claims, which it said had no merit.

ADIA had invested $7.5 billion in Citigroup in November 2007, getting securities that must be converted into common stocks at a price in the range of $31.83 to $37.24 a share between March 2010 and September2011. Citigroup shares closed at $3.56 in New York on Tuesday.

Analysts said they were not surprised by the investment agency’s attempt to mitigate its losses, but warned that if successful, it could set a nasty precedent for similar investors in Citigroup that had lost money.

At the end of 2008, Citigroup had about a $1.92 billion loan exposure to the UAE, of which Dubai is a part.

Meanwhile,Republic Iran on Wednesday test-fired an upgraded version of its most advanced missile--the medium-range Sajjil-2 , capable of hitting Israel and parts of Europe.About 1,200 miles (2,000 kilometers) range.

Iran touted the launch as a success proving it can deter any U.S. or Israeli military strike against its nuclear facilities.

It's a provocative act just in time before the start of new Moslem calender year to show its prowess by having this fireworks display.
The Dow,Wednesday 16/12/09 is 48hours to Quadraple Witching.

18/12/09.Moslem holiday.(Awal Muharram-a new calender year)

31/12/09:Asian index futures expiry.

9:30am:--A hefty 47.81 points gap down open.US current account balance for the third quarter hit a $108 billion deficit.

10:30am:--Opening gap being fully filled to find an early day's high.Bearish harami noted.

11:30am:--Hangman at bull pivot.

12:30noon:--MAV support line at risk.Bearish engulfing.

1:30pm:--Consolidation time but a graveyard doji is the warning sign.

2:30pm:--Prior bearish harami near the MAV support translated to further bearish hammering.

3:30pm:--A day's low is being found.Bullish retracement.

4:00pm:--Too bad another graveyard doji warning of follow through.

The focus today is on the FOMC policy statement .In light of ongoing improvements in the functioning of financial markets, it anticipates that most of the Fed's special liquidity facilities will expire on February 1, 2010.

The witches are trying to pullback the index to the MAV support line as noted by Wednesday's graveyard doji.As the trading range of the Dow is quite small for the month,the risk factor is quite high.

Maritime stocks listing in Somalia.

Republic of Somalia's capital Mogadishu.
Gained Independence from United Kingdom,
26 June 1960 and from Italy,1 July 1960
Haradheere, 400 km (250 miles) northeast of Mogadishu, used to be a small fishing village.

Piracy-related business has become the main profitable economic activity in the area and locals depend on their output.

The district gets a percentage of every ransom from ships that have been released, and that goes on public infrastructure, including hospital and public schools .

Heavily armed pirates from the lawless Horn of Africa nation have terrorized shipping lanes in the Indian Ocean and strategic Gulf of Aden, which links Europe to Asia through the Red Sea.Ships and trawlers that passes by in the wrong place at the wrong time will be cornered and will be held for the ransom money.

HARADHEERE,a town in the Mudug province of central Somalia, Somalia's main pirate lair.The sea gangs have set up a cooperative to fund their hijackings offshore, a sort of stock exchange meets criminal syndicate.

The gangs have made tens of millions of dollars from ransoms and a deployment by foreign navies in the area has only appeared to drive the attackers to hunt further from shore.

There are 15 'maritime companies' at the start and now 72. Ten of them have so far been successful at hijacking.
Ransoms have even increased in recent months from between $2-3 million to $4 million because of the increased number of shareholders and the risks.

Anti-piracy naval operations by the European Union, NATO and several individual states have failed to stop the pirates, who still hold 11 ships and some 280 crew. The multi-national patrols have only appeared to push the gangs to hunt further from shore.

The Dow ,monday 14/12/09 is 4 market days to Quadraple Witching.

Asian Index Futures Expiry:13 market days.

9:30am:--Abu Dhabi supplied $10 billion financing to Dubai World lifted the early opening but stocks being hammered.

10:30am:--An early low with retracement to bear pivot. Citigroup (C) unveiled a plan to raise capital to repay its TARP funds.

11:30am:--Pierce through MAV resistance touching a high with graveyard doji.

12:30noon:-- After finding support at the bull pivot,spike up to meet another double top shooting stars.Speculation of a pick up in merger and acquisition activity helped win support for stocks this session.

1:30pm:--The MAV support line has been breached.

2:30pm:--Having pulledback to the bear pivot,indicies retrace back to the MAV resistance but bearish harami is in check.

3:30pm:--There is a hangman and bearish engulfing.

4:00pm:--Shooting stars,follow through is a pullback.

The ascending soldiers have finally reached the peak of December's first half which is the pivot day of the month.Time for them to take a pause and listen to the FOMC policy statement, housing starts, and consumer prices which falls on Wednesday,also the pivot day of the week.It's witch hunting time again.

A $29 billion takeover deal by Exxon Mobil Corp.and the Dubai World rescue plan nudged major stock indexes to new highs for the year.

Banks exposure to Dubai World.

United Kingdom's banks in total exposed US$49.5billion.

Royal Bank of Scotland was the most exposed, with the paper reporting a figure of $1-$2 billion. Other UK banks, HSBC, Standard Chartered and Lloyds, were said to be exposed by around $1 billion each.

French and German banks top the euro-zone list with $11.3 billion and $10.2 billion respectively.

Dutch banks have exposure of $4.7 billion, while Swiss banks have $4.3 billion and Italian and Belgian banks share in $3.2 billion.

Royal Bank of Scotland has around 700 branches, mainly in Scotland though there are branches in many larger towns and cities throughout England and Wales. The Royal Bank of Scotland and its parent, the Royal Bank of Scotland Group, are completely separate from the fellow Edinburgh based bank, the Bank of Scotland, which pre-dates the Royal Bank of Scotland by 32 years.

Thursday's Dow is 6 market days to Quadraple Witching Day.

Nikkei Futures expiry:24 hours.

Asian Index Futures expiry:16 market days.
9:30am:--The trade deficit for October totaled $32.9 billion (expected $36.8b) boosted the opening.Wondering which group of market manipulators are dictating the expectation figures?Seems that the world market is being held at their ransom.
10:30am/1:30pm/3:30pm:--Pullback to the MAV support.(triple hammering)

4:00pm:--Bull trap hammer.

A promising short-covering .An inverted hammer on Thursday has pierced through the month's MAV resistance and the upper shadow will be lighted again.Meanwhile the candle's body is still being held in a bear territory and should be above the MAV to confirm a safe bull.

Trading volume has been rather light this session,I think not only the Dow,other markets elsewhere in the world the same.

Kuwaiti dispose citigroup stake

Kuwait is an Arabic word meaning "fortress built near water."
Kuwait came under the influence of the Ottoman Empire and after the World War I, it emerged as an independent sheikhdom under the protection of the British Empire and gained its independence in 1961. Kuwait's large oil fields were discovered in the late 1930s.

Kuwait is regarded as one of the most economically developed countries in the Arab League and is designated as a major non-NATO ally of the United States.
Kuwait is one of the world's leading oil producers.

The Kuwait Stock Exchange is like an airport lounge. There was a restaurant, a Starbucks and a lot of people just sitting in chairs exactly like the ones you would find at airports. There was also a huge Times Square like electronic screen on the wall and that people can now watch the news and the stocks all from that "lounge". It was huge and just totally packed with people. The third floor is where all the action takes place and this is where you can find people dancing or people fainting. Ambulances lined up outside the stock exchange building because when the stocks went down badly so did a lot of people.
Sources hinted that Citigroup is seeking to repay billions in federal bailout aid but so far haven't received permission from the government.
The main sticking point is how much capital the banks would need to raise to repay taxpayers the money they received at the height of the financial crisis.

Citigroup received $45 billion in bailout money and is now 34 percent owned by the government.

The government has told Citigroup that it would need to raise at least $20 billion in common equity to be able to quit the Troubled Asset Relief Program.
Gulf Arab nations like Kuwait sovereign wealth funds have been heavy investors in U.S. and European companies, using their oil wealth to buy large stakes in companies ranging from Citi to Germany's Volkswagen AG and Mercedes-Benz parent Daimler AG.

Kuwait took its stake in Citi last year after another Gulf fund, the Abu Dhabi Investment Authority, paid $7.5 billion for a 4.9 percent stake in the company.

Kuwait Investment Authority (KIA) transferred the preferred stocks it owned in Citigroup to normal stocks and sold all of them for $4.1bn,a profit of $1.1bn from the sale, or a 37 percent return on its initial investment.

The Dow Tuesday,08/12/09 is 8 market days to Quadraple Witching Day.(18/12)
Nikkei Futures expire:2 more days.

Awal Muharram(muslim holiday:18/12/09)

9:30am:--Slightly unshaven top down bears with furthe gap down to nearly 150.00 points.

10:30am:--Retracement to only bear pivot with further bearish hammer.

11:30am:--Pierce through bear pivot with bullish spin.

12:30noon:--Reached MAV resistance held back by hangman.

1:30pm:--Pullback to bear pivot,shooting star warning.

2:30pm:--Near morning low with another shooting star.

3:30pm:--After finding the day's low,a rebound to the bear pivot.

4:00pm:--A bullish inverted hammer at bear pivot.
The upper candlestick shadow is poised to be covered again after having found its double bottom.

Seven days before the Dow expiry,will be a bullish recovery day.

Volatility this month will be very high as most funds are unwinding their positions and more venomous news will be injected in their favour.

Afterall what is call "witching",a devil's market.