Bear lose steam.

Will the bears lose steam and succumb to the bulls come this Monday for the year-end big bang?Maybe yes!

It's Bear Stearns.Billionaire investor Joseph Lewis on Wednesday revealed that he raised his stake in Bear Stearns for the second time this month, while shares of the fifth-biggest U.S. securities firm declined.

The 70-year-old high school dropout first bought a 7% stake in September and raised it to 8% earlier this month. He now owns 9.6%, according to a regulatory filing Wednesday. That makes him the company's largest shareholder, according to data compiled by Bloomberg, ahead of James Barrow, who oversees $50 billion as the president of Barrow Hanley Mewhinney & Strauss in Dallas.

Lewis has spent more than $1 billion accumulating his stake in Bear Stearns (BSC), which has seen its market value tumble on concern that the collapse of the U.S. subprime mortgage market would erode profits. Lewis' original purchases briefly sparked speculation that the firm might be for sale.

Born in an apartment above a pub in London's East End, Lewis left school at 15 to become a waiter in his father's catering company. He expanded the business into a chain of eateries and opened tourist souvenir shops in Geneva, London and Rome. Lewis got into currency trading as a means of investing receipts from his pubs and shops.
Two Bear Stearns hedge funds that bet on mortgage-linked securities failed in July, wiping out $1.6 billion of investor capital.

***Joe Lewis: the golf crazy billionaire

***Is Joe Lewis Really Smart or Just Really Rich?

The opening bulls have started the year-end rally pace but were shortlived.

Sales of new homes have plunged even more than expected to their lowest level in more than 12 years, leaving the market glutted with unsold homes and pointing to more trouble ahead for the battered housing market.
New home sales tumbled 9 percent in November to a seasonally adjusted annual rate of 647,000, according to a Census Bureau report Friday.

Upon released of the above data at 10:00am (ET) the bears made a stampede back to the valley but have gone on a wrong course.At the mid-session of the day,the bulls have shown their might and brought the trail back near the Moving Average heading for the bull-county.Yeah!it's the bullish dragonfly in the final closing bell.

Hey,sorry folks,,,it should be a Morning Doji Star Not evening star.

On Monday there's another existing Home Sales data coming out 10:00am (ET).

It's going to be a 2 way traffic,the upper shadow is reserve for the year end rally while the lower shadow will be used for the housing data if the released result is lousy.

But end of the day is still the muscle of the bull.

World market rattles!

Pakistan-the epicentre.
The assasination of Benazir Bhutto,Pakistan People Party Chairperson and former Prime Minister on Thursday in a suicide attack after addressing a campaign rally has caused another level of geopolitical uncertainty to an already fragile region.....Full Story The world's financial market is again temporary being hit by this event ....Full Story
Two rounds of fire were shot at the convoy of Benazir Bhutto near the central gate of National College of Arts a little far away from Liaqat Bagh, as she was about to leave for Islamabad after concluding her rally at Liaqat Bagh.
Benazir Bhutto became the first female leader of a Muslim nation in modern history. She served two terms as prime minister of Pakistan, from 1988 to 1990 and from 1993 to 1996.
Bhutto was the daughter of the politician Zulfikar

Ali Bhutto, who was the leader of Pakistan from 1971 until 1977. She was educated at Harvard University (B.A., 1973) and subsequently studied philosophy, political science and economics at the University of Oxford (B.A., 1977).
She would have been alive if....Full Story
Moments of truth..Pakistan's Bhutto Killed in Attack - washingtonpost.com
The US urges democarcy in volatile Pakistan ...Full Story
A solemn trading day on Thursday with couple of bad news:
Bhutto's death and the Commerce Department's durable goods orders exaberated concerns about the U.S.economy.The last hour trading seems like a funeral parade for Bhutto and ended with a spinning doji bullish.The captain is blowing his trumpet for a fallen hero.
The bears have just returned from the christmas holidays and have covered the half body of the previous candlestick completing the weekly Moving Average Pivot and the bulls are taking over the wheels.A Pre-new Year rally is on!

HYIP Scam.

The HYIP scam or high yield investment programs are the hottest and most popular investment scams on the internet today.

We are all searching for ways to make extra money. In fact many people including myself have searched for years before finding any reputable way to make money without a sizable investment.

This is where the HYIP scam enters the picture. At any given time there are literally hundreds of HYIP (high yield investment programs) looking for your small investment.

These programs ran on and on about how your $10-$1000 can make you a 10-30% per day return.

You might ask yourself why anyone would even take these claims seriously? The catch is that these HYIP scams can make you serious money in the short term. HYIPs take money invested in the program and pay it out to people earning their returns.

The larger the HYIP the longer it can go before the bottom falls out.

Many people have made money with HYIPs but one never knows when the HYIP will fold.

Some HYIPs have folded the first day and others have been running successfully for months. In fact investing your money in any HYIP is as good as playing it in the nearest casino.

No HYIPs are legal. They are often run by underground people or groups looking to make a quick buck. It's money laundering!

These are some reason to identify scam hyips. Everyday, dozens of HYIP (High Yield Investment Programs) sites come out offering to be the solution to your financial dreams. They also promise you a life filled with wealth and satisfaction. Do you really think they deliver what they promise? They are just fooling you. Studies revealed that 99% of HYIP sites are frauds.

I would regard all these schemes as "ponzi".A Ponzi scheme is a fraudulent investment operation that involves paying abnormally high returns (”profits”) to investors out of the money paid in by subsequent investors, rather than from net revenues generated by any real business. This type of scam is named after Charles Ponzi. wikipedia

My first experience in one of these scheme started when a friend of mind recommended me AB Fund.At that time the fund proof to be paying to all the investors and most of the local folks were lining-up at the doorstep of the upline leader to cash out their daily dividends.What I understand is that it's new and only 3months old so I supported the recommendation and made a spend of $100 for a try(130% after 2 days).The following month I was paid the dividend and on the 5th month with my reinvestment,the site was out and cannot be accessed for good.The local folks inform the government and all HYIP's sites were banned including the hottest SWISSCASH.net.

So I ventured in on my own to scout for how these people work by searching for these HYIP sites.I got one,spend $5.00(Minimum) Dat.Profit.com.(daily 5%)---closed within 2 weeks.Prior to the site blackout,the adminnistrator quickly change the terms to "the program is over when the percentage withdrawal comes to 95%"

Next adventure is the 4months old Onlineforexinvestment.Com,spend $20.00(minimum)(1.25%daily interest)---hang on for 3months and soon the site keep on cannot be accessed.Those crooks e-mailed me to inform about site breakdown and don't worry,it's temporary.The next mail says please vote for them with good remarks on the ratings site which I did.(when the site is back on footing again)

The next mail received is "we are going private""to be entitled the minimum spend must be $250""Limited members only""If you don't top -up you are still entitled for the principal payment plus the compounded dividends at the end of maturity"So I did not response and soon 2 months later,the site was total blackout.See it's daylight robbery.

My last encounter is A3Union.com.Page presentation wise is good and with Certificate of registration to back up their authencity.But..but on my deeper inspection it turns out their nature of business is a sofware company and not a financial investment company.I made a $25.00 spend but then it's too late.(14 days @ 28%yield)This program started 11Aug2006 and join the list of scammers by November'07.

Sharing to all is most if not all are ponzi or pyramid schemes,including those autosurf sites.Do not be misled by those ratings people making their early spend.They make their first commissions and first to bail out before fools like us jump in the bandwagon out of confidence.

Finally,these HYIP's template can easily be bought cheaply to your needs from$50.00 onwards.

(http://sentrahyip.com/) (http://www.autosurf-script.com/) http://www.hyip-scripts.com/

Tracking Dow on Thursday,26/12/07

Returning from the holiday were the bears cashing out their gains.The bulls were exhausted with only 13.99 points gain whereas the bears have a majority 56.65 points.The closing dargonfly has a black body and can signify a hangman like a sword piercing through its enemy.

That spinning top doji seems like piercing through the previous day's body.It has a long lower shadow for a bearish play.Can it be the 'Sword of Zorro!'It will have a followthrough of weakness on profit taking before it takes on a final boost.

Chinese Tech Stock Summary

Internet

• Baidu(BIDU) announced that it has entered into an agreement with Intel (INTC) to set up a joint lab to promote the development of new technologies in China.
• Alibaba, the Chinese online e-commerce operator, announced the formal launching of its Japanese edition.
Media, Entertainment and Gaming
• China Unicom (CHU) announced the launching of its mobile phone newspaper in cooperation with People's Daily
• DNY Limited, a wholly owned subsidiary of Dynasty Gaming Inc., headquartered in Canada, announced the formal signing of a Definitive Agreement with SEGA Corporation of Japan for the development of new Multi-Player Online Games for the exclusive distribution and use of the company in China.

• PacificNet, Inc. (PACT) a provider of gaming technology, e-commerce, and Customer Relationship Management [CRM] in China, announced that it has received formal notification from the NASDAQ Listing and Hearings Council that the company has demonstrated compliance with NASDAQ's filing requirements under the Marketplace Rules.
Mobile/Wireless

• Glu Mobile Inc. (GLUU) announced that it has completed the acquisition of Beijing Zhangzhong MIG Information Technology Co. Ltd., a developer and publisher of mobile games for China.

• China Mobile (CHL) announced that it has added 6.5 million new customers in November with a total of 362.7 million subscribers, compared with the 356.2 million subscribers at the end of October
Software
• Oracle (ORCL)announced the start of operation at its Shenyang branch, which is expected to serve as a strong platform for the company as well as the information software industry development in that area.
Hardware
• CIMTEK announced the expansion of its operations with a new facility in Suzhou to support global demand for quality manufacturing.
Ventures/Investments
• Datang Telecom Group announced that it has signed a letter of intent with the People's Insurance Group.which will invest 1.5 billion yuan (US$203.6 million) in Datang Mobile for a 13 percent stake.
Web-sightings:
http://www.cyberhymnal.org/htm/s/i/silntnit.htm

Rescue Funds Aborted.

The nation's three biggest banks gave up on a fund intended to rescue tens of billions of dollars in troubled investments. The three banks leading the effort were Bank of America Corp., Citigroup Inc. and J.P. Morgan Chase & Co.Banks could reactivate the fund if conditions worsen.

Wall Street's confidence in recent weeks has come from government-linked investors in Asia and the Middle East who have poured money into big financial firms.

The now-collapsed effort was intended to rescue bank-linked funds known as structured investment vehicles, or SIVs. The SIVs issued short-term debt at relatively low interest rates and used the proceeds to buy longer-term debt carrying higher rates, including debt backed by mortgages. Banks aimed to profit by pocketing the difference between the rates. At their peak, SIVs held some $340 billion in assets, a figure that fell to $265 billion by early December as they sold off some holdings.

The super-SIV was one of the two main elements of the Bush administration's response to the subprime mortgage crisis. The other, announced this month by President Bush, was an agreement among mortgage-industry participants to expedite new mortgages or interest-rate freezes for some subprime borrowers whose rates are due to rise over the next two years.

That left only two major banks -- Germany's Dresdner Bank, a unit of Allianz SE, and BMO Financial Group and its Bank of Montreal unit -- that hadn't yet moved to restructure their SIVs.

One reason for the plan's downfall was that it would only buy the highest-quality assets from the SIVs. That gave banks with SIVs less motivation to create a super-SIV, because the assets they most wanted to unload were those backed by more-troubled slices of mortgage debt.

Friday's closing was just inches from the main pivot and a breakout is imminent so is the year end rally.

Let's hope Santa will not leave behind a bumpy trail!http://cards.animatedfun.com/xmas/chimney.htm

http://cards.animatedfun.com/xmas/season.htm

http://cards.animatedfun.com/xmas/xmas_angels.htm

MARKET WATCH:

1) NTRZ - Continued Momentumhttp://rs6.net/tn.jsp?e=001ZZQwE6EscEdEZPnNmAGo9cKla0D2cVBlEf83EPe03Y9ScxJNrv_dBG2HBP74zDm06_oWfWI1DsqOgNGP5icTu33LwNvJyRNhbkx_3OAzEeq3_BNm-6nOABepR7EKCdWrtRQYs80bIUmrp5leZ7zeICwMv5DC_zYb NutraCea is a leader in stabilized rice bran nutrient research and dietary supplement development. Through its wholly owned subsidiary RiceX, the company manufacturers as well as distributes products and food ingredients made from Rice Bran through its proprietary technology and processes.

2) CYRX - Momentumhttp://rs6.net/tn.jsp?e=001ZZQwE6EscEeMoFLbNGx3Wm1p_dulb_zGYIgvrfVo1-wVziXkBLJJw_1Y-fapcsVt-s06rlbwdRdmPx63mx495W9cYfF7nZdfxj0q6Kjk2cTBRhIhcZcEvH_bhd0S1T_3k3_k2gv0k6k_Ghl4X1NuhxMPuXZdQw9p CryoPort develops leading edge, proprietary, technology-driven shipping and storage products for use in the rapidly growing global biotechnology and biopharmaceutical cold chain.

3) FRPT - 52wk Lowhttp://rs6.net/tn.jsp?e=001ZZQwE6EscEe0QUAXdchLLZpPNGwyH8TMF212qCjvRhpFpWushAY2xIUnVAjPzrcrqtLVf_m419g8sx9nTXqbUlNzwC8_Xiy2YIZNzgYfp9pmDf9VDpIF3qEXmQ6C2JZHgGUX9CJU_cROFy2rGmRxWg== Force Protection, Inc. and its subsidiaries engage in the manufacture of ballistic and blast protected vehicles.

Merilly Marry Me!

Alas,the world's biggest brokerage firm Merrill Lynch & Co.(the bride) has found a suitor.The bridegroom has to fork out a hefty $5 billion,Asian chinese style marriage 'dowry".It's a pretty sweet deal at such an opportune time.A Christmas present!
Welcome to this small island city,also known as the "LION CITY".It is also the tail of the dragon extended from mainland China.Located in South East Asia just below Malaysia Peninsula and surrounded by the Indonesian Archipelago.
The new found homeland is none other than the Republic of SINGAPORE...SINGAPURA....新加坡...Сингапур...ประเทศสิงคโปร์...シンガポール...싱가포르...سنغافورة
The suitor is Temasek Holdings Pte Ltd---Set up in 1974 to run state assets, Temasek now has more than $100 billion of investments, including controlling stakes in seven of Singapore's 10 biggest publicly traded companies. It holds 28 percent of DBS, Singapore's largest bank.
Temasek, owned by Singapore's finance ministry, has notched up an 18 percent average annual return since its inception. It raised more than $800 million in the past month selling part of its stakes in China Construction Bank Corp. and Bank of China Ltd., the nation's second- and third-largest lenders.
Merrill climbed $1.17 to $55.67. Temasek's board has given preliminary approval for an investment in the firm, which is reeling from the biggest loss in its 93-year history.
http://www.temasekholdings.com.sg/
Have a wonderful Christmas at Singapore..this year's theme is "Christmas,it's all about love!"
English - Global

Tracking the Dow on Thursday 20/12/07.
Look at the half hour near closing bell!
It's Santa and his reindeers.The Christmas Yuletide has begun.
http://www.youtube.com/watch?v=IaxDGfA7evA
It's the MORNING STAR CANDLESTICK seen in chart below!!!

Evergreen:-"A Star Is Born"
http://www.youtube.com/watch?v=AxjOY0nVWtQ
Let's go carolling!
http://www.ylw.mmtr.or.jp/~johnkoji/hymn/xmas/

Oriental foray in Morgan Stanley.

Chinese buyers have spent $29.2 billion acquiring foreign companies so far this year, while investors from the rest of the world have bought $21.5 billion of Chinese companies, according to Thomson Financial.

The latest being state-run China Investment Corp. -- a sovereign-wealth fund, essentially the government's money pile --has invested in Morgan Stanley (the $5 billion bailout) as much as 9.9% of the Wall Street giant.

With its capital injection from China Investment Corp., or CIC--the new government agency responsible for investing $200 billion of the country’s $1.4 trillion in foreign currency reserves--the one-way money flow from Wall Street has been reversed.

Citigroup Inc. and UBS AG received sizable help from Middle Eastern and Singaporean investors in recent weeks. Wall Street firm Bear Stearns Cos. agreed in October to swap $1 billion investments with China's Citic Securities Co.

China made its biggest overseas foray to date in October when its biggest bank, Industrial & Commercial Bank of China Ltd., announced the purchase of a $5.6 billion stake in Africa's largest lender, South Africa's Standard Bank Group Ltd.

China has the money to spend because of its ballooning trade surplus with the rest of the world, as well as a local stock-market boom that has raised tens of billions of dollars for giant state-owned firms. China's foreign reserves rank as the world's largest at more than $1.4 trillion.

The terms of the Morgan Stanley deal guarantee CIC a 9% annual return, well above the fund's 5% cost of funding until it converts its investment to shares in 2010.

Tracking the Dow,Wednesday 19/12/07.
The bears reacted to the looming downgrades for bond insurers highlighted credit concerns.While the bulls reacted to the results of the Fed's $20 billion auction launched on Monday. The first of four auctions showed strong demand, as the central bank loaned $20 billion at 4.65 percent. That was slightly below the discount rate of 4.75 percent.At the final bell a dragonfly doji was seen hovering near the MAV and is likely to penetrate through the barrier.

The two (Santa & Santarina) powerful spinning bottom has formed the Morning Doji Star, a sheer sign of bullishness.Stock index futures and options and individual stock futures and options will all expire simultaneously this Friday.
Play Music !

ECB's financial lubricant.

The European Central Bank(ECB) shocked the markets today with an unprecedented $500 billion two-week loan issuance injection to the banking system. Estimates suggest the operation was about twice the size technically needed. Today's operation by the ECB effectively drove a 50 basis point reduction in the two-week loan rate in euros to 4.45%.
The Bank of England had said Tuesday that it would pump additional reserves into the money markets, and that banks had already bid £10 billion ($20.2 billion) for three-month loans. The U.S. Federal Reserve had conducted a $20 billion auction of 28-day credit on Monday. The European Central Bank also called for 50 billion euros ($72 billion) in tenders for a 98-day, longer-term refinancing operation that would end March 27.

Tracking Monday's Dow,18/12/07.
Stocks rebound on the open.The good news driver:-1)ECB lubricating banks
2)Good earnings report from Best Buy (BBY) and Goldman Sachs (GS).The pullback between 12:00pm till 1:00pm was caused again by Goldman's CFO who issued a cautious near-term outlook.But the bulls decided enough is enough and bring the indicies near its day high.The final bell saw another bullish hammer and might continue its recovery cautiously.
A spinning doji within the body of the black candlestick signifies the bulls are trying to recoup its losses.But there was a long bottom shadow than the upper so the bears are still powerful are this stage.
MARKET WATCH-LIST:
1) EFGU - Short Squeezehttp://rs6.net/tn.jsp?e=001Yf84TbN0BsH70y4zw6YngE-Evp5_9U1k9DEazsjdA32mCGbBwAjtee0QQKTcT_RoGTykRzl15IlpdIlWdZs5vwMseJFx5dSANzzsRx5-ku0dcF3UApjMiS6ECxmg1D17ONNIMd5nGJ4= Empire Film Group, Inc. ("EFG") is a new independent film finance, production, and distribution company led by a management team with over 20 years of experience in development, production, distribution, finance and marketing of feature films and television programming.
2) GSPG - Volume Alerthttp://rs6.net/tn.jsp?e=001Yf84TbN0BsGQTX-7yrhMvIdEz35tltyk6E2_w2Dmm50ZeOug7OvrxQtGjm8pdmj6eszgMnH07aPvTN8GMQW3dHj-AW0nhPAqMIzSyegqNyOQCZhbHUgz_FK_VYhsHMjh2TOSWcr5crdUkF9Euzdn1sdDdCZmDNfQ GoldSpring, Inc. is a North American precious metals mining company with an operating gold and silver mine in northern Nevada. The Company was formed in mid-2003 and acquired the Plum Mine property located in the Comstock Lode District in November 2003.
3) SOEN - Volume Alerthttp://rs6.net/tn.jsp?e=0019UTkamAC5tsroBJjX8rCZn5-46bskf5N5j_SWmeArgDT1Y0SKfoF1FU9p04O4Ol2AfEUrMHxf1txKQtZgj1zXM_vAV06Zc453EAooiiUXphO96sgj99c1qT02h28_nJr-P6m0L3ogK8= Solar EnerTech is a photovoltaic ("PV") solar energy cell manufacturing enterprise based in Shanghai, China, where the Company has established a sophisticated, 42,000-square foot manufacturing plant in Shanghai's Jinqiao Modern Technology Park. Currently, the facility is capable of producing 25Mw of solar cells from its existing production line.

Rebuilding the collapse Wall.

Helicopter Ben firing of his salvo on the 11th Dec has sent a wrong signal to his top-guns resulting in cluster bombings of Wall Street with huge debris of hard rock crumbling dow to its knee.

The top-brass will be gathering again tonight to plan a strategy for Quadraple Witching Day-3 more days to go.Very well syncronised timing.

yeah!!! the Fed's Board of Governors when it gathers in Washington tomorrow 10.00am (ET) to respond to the collapse in the market for subprime home loans will make it harder for lenders to charge fees for early repayment of subprime mortgages.

So, what are good news in store? 1)Four new requirements for lenders & 2)They may also set two new standards for disclosure.

Congress last week also gave final approval to legislation that would expand the ability of the Federal Housing Administration to insure mortgages for more subprime borrowers, sending it to President George W. Bush for his signature.

Tracking the Dow on Mon ,17/12/07.

The opening bell bears were more tamed and not so unruly.It has finally completed the race going down Devils Hill at Wyoming. (http://www.wyomingtalesandtrails.com/devilstower.html) At the closing bell was a bullish hammer of the bottom,pairing together with the Long Black Candlestick it has formed the :Morning Star

It's countdown to "Quadraple Witching Day"-3rd Friday of the month.Positive news by the Feds will result in short-covering by the big boys to play the upper shadow of Dec 12,candlestick.

The Dow index has completed wiping out the whole of December gain near to its low just by another 19.02 points to go but never.Most of the international financial markets have also followed the same chart pattern of Dow.

Watch List:-

1.) ONMC - Continued Momentumhttp://finance.yahoo.com/q?s=ONMC.PK "AQUAGOLD" branded premium Canadian Spring Water is presently being shipped into China

2.) XSNX - Volume Alerthttp://finance.yahoo.com/q?s=XSNX.OB XsunX is developing amorphous silicon thin film photovoltaic (TFPV) solar cell manufacturing processes to produce TFPV solar modules.

3.) DLII - Momentumhttp://finance.yahoo.com/q?s=DLII.PK The Dixie Lee brand name started with the opening of the first Dixie Lee Chicken & Seafood restaurant in 1964 in Belleville, Ontario Canada. Building on an old Louisiana chicken recipe, the Dixie Lee name has grown to include subsidiary and affiliated companies accounting for more than 80 branded restaurants open and more than 20 in development.

Wall street arm-twisting.

According to futures trading on the Chicago Board of Trade,investors are pricing an 80% chance Fed will cut fund rate by quarter point to 4%.Earlier his week the market was pricing in a 100% chance.

The Consumer Price Index increased 0.8%, the most since September 2005, according to the Labor Department.Wholesale prices saw their biggest jump in 34 years in November.
It was the biggest jump in that price measure since August 1973. The key driver in November -- a record 14.1 percent rise in energy prices. The previous record one-month jump in energy prices was in January 1990, on the eve of the first Gulf War.
The latest cycle of Fed rate-cutting might be cut short by inflation concerns, sending stocks to their lowest close in more than a week.
Next week brings earnings reports from a few big companies, including Goldman Sachs (GS, Fortune 500), Morgan Stanley (MS, Fortune 500), Bear Stearns (BSC, Fortune 500), FedEx (FDX, Fortune 500), Best Buy (BBY, Fortune 500) and Oracle (ORCL, Fortune 500).

Tracking Dow on 14/12/07.(Friday)
Inflation pressure-the most important economic indicator controls the day's trading sentiment.The early bears depressed the market at the opening thus providing no rooms for the bulls to manouvre.At the close was a small white spinning doji and a black hammer of a downtrend.Looks like the big boys have completed their agendas.

The Pivotal Phenomenon.
Friday is the middle of the month,the pivotal showing a matching low closing.Dow futures is also in the mid-month so is all other financial markets around the world.So what we are going to see next episode is the Dow will be playing the upper shadow of the candlestick dated the 12the Dec.just in time for the Quadraple Witching Day.
(21Dec)

Citi's Coup.

Citigroup Inc. has launch a 'financial coup' to the rescue of SIVs.(Structured Investment Vehicles) in order to avert the fire sales of assets thus taking responsibility for their $49 billion of assets.

This is the last major outstanding piece of the SIV problem and the problem is closed to resolution.

SIVs emerged in August as one of the biggest threats to capital markets that were rocked by record high defaults on subprime mortgages. Financial institutions have since reported more than $70 billion of losses and writedowns. Citigroup invented SIVs in 1998 and was the biggest manager of the funds.

Citigroup Inc. follows HSBC Holdings Plc, Societe Generale SA and WestLB AG in bailing out SIVs to avert fire sales of assets.

Florida schools and towns pulled almost half their money last month from a $27 billion state-run fund used to pay teachers and other day-to-day expenses after discovering it invested in defaulted and downgraded SIVs. Charlotte, North Carolina-based Bank of America, the second-largest U.S. bank, said last week that it will liquidate a $12 billion enhanced cash fund after losses on holdings that included debt sold by SIVs.

Citigroup Inc. is now headed by a new management team hoping to wipe off the sins of previous management.

Tracking the Dow on Thursday,13/12/07.
Credit worries being the theme of the day as investors and traders are yet to fully digest the aftermath effect of the rate cut.The bulls seem to be collecting and accumulating in such a comfortable discounted environment.The world financial markets (global trade),are being fooled by these ratings juggernaut.Towards the closing bell,looks like an ascending flag pattern.There were 3 side-by-side candle---(Mr.President,Mr Bernanke,Mr Allan Greenspan)

Looks like the New York fire-fighters are scrambling up their ladders to douse-off the fires on wall-street.They seems to be successful in piercing through each height.Hope they can reach the penthouse!

The Fed Marriage Plan.

The bridal line-up.

The Federal Reserve + The European Central Bank + The Central Banks of Canada, England and Switzerland=MR.CRUNCHY USD

"This is the biggest act of global economic cooperation since September 11."
The Fed will set up a new auction facility that will provide up to $40 billion in two auctions next week -- Monday and Thursday. Two more auctions are scheduled for January 14 and January 28; and are open to all depository institutions able to borrow at the Fed's discount window.
A meltdown in the housing and credit markets has made banks and other financial institutions reluctant to lend to each other, causing a cash crunch. Banks have to maintain a certain level of cash reserves, which changes every day. During normal times -- when credit is smoothly flowing -- a bank, on some days, may be short on its reserves and would need to borrow from another bank to make up the difference. Or, a bank may have excess reserves, which it is willing to lend to another bank. Now, however, during the credit crunch, many banks have been hoarding cash -- not wanting to lend or borrow from others banks. That makes it harder and more expensive for individuals and businesses to obtain credit from banks to finance all sorts of things, such as homes, cars, school and small-business ventures.
A senior Fed official said the market plunge on Tuesday "had nothing to do with today's announcement" and that it was "in the works for a while." The official, who briefed reporters on condition of anonymity because of the sensitive nature of the actions, said the Fed waited until Wednesday so that the announcement could be jointly made with the other central banks


Tracking the Dow on Wednesday 12/12/07.
A gap-up early bull started to dwindle as the hours go by.The descending army of bearish doji stars spinning and pumping all the way down.The final hour saw a suisidal Miss Dow hammering after digesting the Fed's marriage plan.Near to the closing bell,noticed a bullish hangman waiting to send Mr.Jones to the guillotine again.
Look at the spinning bottom doji.It has now set the stage for either a bearish day and might reserve the upper shadow bullishness when it comes to Quadraple Witching day which is going to happen on the 3rd Friday of the month.Then only will the Full Moon Party www.youtube.com/watch?v=BWuGmFLDXBs begin.Meantime fasten your seat belt for the roller-coaster ride.

Disappointing rate cut.

The vote is seven of the 12 Fed district banks requested the quarter-point discount-rate cut, suggesting some asked for a bigger move.
The Federal Open Market Committee lowered the benchmark rate by a quarter-point yesterday to 4.25 percent, and said cumulative cuts of 1 percentage point this year should promote ``moderate growth.'' Policy makers also dropped their assessment that growth and inflation risks were ``roughly'' equal and cited ``uncertainty'' about the outlook.
We have a group of reluctant committee, they didn't want to ease.Policy makers weren't united on yesterday's decision.
``Strains in financial markets have increased in recent weeks,'' policy makers recognized yesterday. That contributed to the ``uncertainty surrounding the outlook for economic growth and inflation,'' the Fed said.
Officials noted that ``elevated energy and commodity prices'' may cause faster inflation.
Investors were at odds with the central bank's decision and instanteously translate wall street into a highest free fall ever since Ben S. Bernanke, 53, became chairman in February 2006.
The TV commentators were disappointed.
Economists were disappointed.
Money managers were disappointed.
Even money markets were disappointed with the cut.
And yours truly was disappointed at the wave of disappointment.
The only people who weren't disappointed but were surprised nonetheless were bond investors, who sent Treasuries soaring.
Meantime,my suggestion to those top brass out there is not to mention and keep on harping the word "RECESSION",it's too psychological and emotionally painfull thing to hear.



Tracking the Dow on Tuesday 11/12/07.

The overnight paparazzi pursuing Helicopter Ben were holding steadily in their focus position until at around 2;15pmET when Ben fired his first salvo.It's kamikaze(-http://en.wikipedia.org/wiki/Kamikaze)the Battle of Midway.
Towards the final 15 minutes before the closing bell,it's a hell with many hangman and graveyard dojis and the battle is now over.A new season has begun." Banzai "

The President and the Fed's Chairman had their meeting line for the last 3days(6/12 - 10/12).
Finally,the analysts and future traders are conducting their aftermath of rate cut meeting postmortem.Looks like they are all pretty satisfied in the meantime. They'll be bouncing with joy!