Thai billion dollar man.

He is Thaksin Shinawatra the 23rd prime Minister of Thailand. Born in Chiang Mai Province, Thailand, and started his career in the police. He later became a successful telecom entrepreneur and one of the richest people in Thailand, with family's assets in Thailand, totaling 76 billion baht ($2.2 billion). In 1989 he established Shinawatra Datacom,a mobile phone network business that was to become the biggest phone operator in Thailand and make him a billionaire.

He entered politics in 1994 and founded the populist Thai Rak Thai (TRT) party in 1998. He is hugely popular, particularly in the north and north-east of the country, enfranchising the rural poor, and offering them healthcare for 30 baht and low-cost loans.

On 19 September 2006 a military junta which later called itself the Council for National Security overthrew Thaksin's government in a bloodless coup while he was abroad.

In 2008 he was convicted of a conflict of interest over a land deal involving his wife. He was sentenced to two years' jail, but had fled the country before the verdict was delivered. A fugitive, he now lives in Dubai and serves, to the fury of the Thai Arbhisit government, as an economic adviser to neighbouring Cambodia.
He is best-known in Britain for his short-lived ownership of Manchester City football club.

On Friday, Thailand's Supreme Court ruled that the government could seize $1.5 billion of the fugitive politician's $2.3 billion in frozen assets after concluding he had enriched himself at the expense of the state through abuse of power and conflicts of interest when he led the country from 2001-2006. The court ruled that the remaining $800 million will stay frozen pending calculation of interest and the settling of other cases and claims against Thaksin.

His CHARGES are involving the sale of government land to his wife and why should the Arbhisit government confiscate his other assets which he already had before his foray in the government. Anyway Thaksin's supporters(the red shirt-the peasants) will be taking on the opponent(the yellow shirt-the military junta) to the street in days to come.The next big rally protest will be March 14 to condemn this Arbhisit government.This will be the real Judgement Day of the people's power.Thai stock market will crash on this day and hopefully will not drag other international peers.

The Dow Friday,26/02/10 is 15 market days to index/options expiry.

Asian market just expired today.Nikkei is 10 market days to expiry.
9:30am:--Small gap up followed by bearish tone.

10:30am:--After finding an early low,a retracement to session high with a breakout.

11:30am:--A double top with a bearish engulfing.

12:30noon:--Pullback time to MAV pivot support,fall shy of the bear pivot.

1:30pm:--Retracement to MAV resistance,a bullish inverted hammer signal.

2:30pm:--Hoovering at the bull pivot resistance.

3:30pm:--Attempt to pierce the bull pivot hampered by profit-taking bears.

4:00pm:--Last day of the month unwinding position for weekend.An unshaven bottom bear trying to hit the MAV support.

February has been a highly volatile month in view of being the pivot month of the first quater.The overall scenerio is still bullish despite all the negative economic news.It's a contrarion market.The weakness in the housing market and jobless report is the excuse to create market swing.The use of Greek fear at this month end with the intention of depressing the Asian market which is having an index/options expiry day is a very good manouvre by the hedge funds.