Laos turn capitalist.

On Tuesday January 11,2011 Landlocked communist Laos launced its stock exchange and has taken a step forward to join the capitalist world.This will further spur development in its economy which otherwise being agrobased.This is also a boost to local firms to have access to vital capital for expansion.

Only two stocks are initially listed: EDL-Generation Public Company -- which was spun off in December from state-owned Electricite du Laos to handle power generation -- and state-run Banque Pour Le Commerce Exterieur Lao.

Laos, with about six million people, is one of Asia's poorest nations but has been growing at about seven percent annually in recent years, the government says.

Donors and non-governmental organisations have cautioned Laos over its growth strategy, which features large-scale foreign investment in resource sectors that potentially could have negative effects on socio-economic development.Laos is working towards membership of the World Trade Organisation.
The Dow Friday,14/01/11 is 5 market days to index/options expiry.
9:30am:--A bearish 20.0 point gap down.
Awaiting Intel and JP Morgan quarterly report.Consumer price index and retail sales rising in December.

10:30am:--Opening gap being filled.Bullish engulfing near session high.

11:30am:--Bullish session high again.Stronger than expected earnings from J.P. Morgan Chase & Co. helping the ascend.

12:30noon:--Consolidation time.Inverted bulls at session new high.

1:30pm:--Bulls are having a field day.The expectations for strong corporate earnings have lifted equities in recent weeks and spilled over today.

2:30pm:--Shooting star.JPMorgan report has offset the weaker Intel.Bank stocks are meanwhile bullish.

3:30pm:--Bearish engulfing.Profit-taking.

4:00pm:--A bullish hammer.

A bullish week with a 30 months high for the Dow.Thursday and Friday's candlestick have a lower shadow showing attempt to clean up the bulls on Wednesday.Both pair have now been seen as bullish hammer.

So the earnings season will definitely be good and expected.Somehow or rather,the investors will find a reason to sell down and lock in profit.Since the index range todate is a mere 218.35 points,the bearish stake is also very high.

There is also a smattering of data, including home sales for December and weekly jobless claims.

Meanwhile,the latest round of China's central increase in reserve requirements might give market a jolt.