Thursday, October 09, 2008
8:55 am - FKLI has gapped to trapped those short sellers who shorted but not cut yet !
FKLI gap up anticipating there is limit to FKLI downside. It is likely to move sideway or down. If it break 970, it does not look good for long position.
Wednesday, October 08, 2008
11:10 am - Unexpected huge downbar for DJIA considering US FOMC is co-ordinating worldwide interest rate cut.
More downside expected with no support to DJIA is short term.
11:03 am - There is a support at 973/970
Gone short and FKLI is testing 973/974 for the 3rd time. If it is going to break, it may break today !
Tuesday, October 07, 2008
5:15 pm - FKLI closed with uncertainty !
At this point, I do not really know where is FKLI is heading to ? It looks like sideway to downward.
4:30 pm - DJIA futures fell into negative terrority !
Cut our long position but staying out for the time being.
12:25 pm - DJIA looking for a reversal. Notice the tail and it has a good support here !
However, volume is not convincing.
12:08 noon - US FOMC may look to cut interest rate after Australia cut by 1 percent.
FKLI looking very bullish as DJIA futures up +121
9:03 am - FKLI did not gap down much ! No selling yet !
After all, FKLI has sold down a lot. Think to take profit or go LONG now !
Monday, October 06, 2008
5:19 pm - FKLI is going to test 960/962 year low !
Still holding our short position for carry overnite !
9:20 am - Market Outlook by Bill Wermine
Dear Traders,
The US economy is facing a crisis that is conjuring up images of the calamities of the great depression of the 1930s. European and Asian stock markets are tumbling as terror and panic hits Wall St. When US lawmakers passed the 800 billion bailout bill on Friday the Dow reversed a 313 point gain to a 157 point loss.
In the last month the Dow has lost 12 % or 1.8 trillion USD.
The threats to the global economy are real and daunting. The collapse of Wall St's mighty financial institutions will have far reaching ramifications on every country in the synchronized global economy. The American economy is in deep trouble and the prospects for a quick recovery are dim. The so called meltdown is already happening and will take months before the full extent of the damage ignited by the sub prime mortage market is fully recovered.
Our AUD Man investments are safe. Our money is in segregated accounts administered by an independent trustee and regulated by the MAS, (monitary authority of Singapore.) Your Global Wrap account in Singapore is also solid as it operates under the same mandate. Phillip is a very conservative, prudently managed operation and has no exposure or high leverage to structured products such as Lehman/ Merril Lynch, Bear Sterns and many other financial institutions.
Man hedge funds also are conservatively managed and have low leverage. Man losses are minimal although many highly leveraged hedge funds have gone bust
Below is a letter to one of my clients who was concerned. For the August investors you should You should get a 4 % rebate of sales charges next week to be credited to your account. Losses in our funds are mainly because of the AUS dollar decline vs the RM . My chart shows heavy accumulation of the AUD at current levels by insiders. When the AUD recovers we should benefit.
Short selling bans does not affect us- Man short sells stock indexes/commodities in the futures markets but does not deal in individual shares. If the authorities close the commodity/ futures markets that would affect us. At this point there is no evidence they will do so.
The Man funds has weathered the worst of the current financial collapse and remember we have a capital guarantee unlike unit trust funds. I have confidence Man will again achieve new equity highs.
Next Sunday 12 October we are holding 2 presentations at the Best Western Seri Pacific Hotel (Formerly Pan Pacific Hotel) from 2 PM to 3 45 PM and 4 15 to 6 PM.
Title of the Presentation Is this the 1997/1998 collapse again and what can we do to protect ourselves?
We will discuss the world market outlook, futures trading opportunities in CPO and CI. We will also preview our next foundation course.
If interested to attend, please call Chong 03 2095 3991/ 016 662 0881. We are speaking Mandaran as well as English in this presentation
Maintain your cool in the face of turmoil and panic. Warren Buffet has been buying GE, Goldman Sachs as well as other quality blue chip shares. He is still maintaining his investment portfolios. Professionals are buying in the current environment.
Have a good week
Bill
The US economy is facing a crisis that is conjuring up images of the calamities of the great depression of the 1930s. European and Asian stock markets are tumbling as terror and panic hits Wall St. When US lawmakers passed the 800 billion bailout bill on Friday the Dow reversed a 313 point gain to a 157 point loss.
In the last month the Dow has lost 12 % or 1.8 trillion USD.
The threats to the global economy are real and daunting. The collapse of Wall St's mighty financial institutions will have far reaching ramifications on every country in the synchronized global economy. The American economy is in deep trouble and the prospects for a quick recovery are dim. The so called meltdown is already happening and will take months before the full extent of the damage ignited by the sub prime mortage market is fully recovered.
Our AUD Man investments are safe. Our money is in segregated accounts administered by an independent trustee and regulated by the MAS, (monitary authority of Singapore.) Your Global Wrap account in Singapore is also solid as it operates under the same mandate. Phillip is a very conservative, prudently managed operation and has no exposure or high leverage to structured products such as Lehman/ Merril Lynch, Bear Sterns and many other financial institutions.
Man hedge funds also are conservatively managed and have low leverage. Man losses are minimal although many highly leveraged hedge funds have gone bust
Below is a letter to one of my clients who was concerned. For the August investors you should You should get a 4 % rebate of sales charges next week to be credited to your account. Losses in our funds are mainly because of the AUS dollar decline vs the RM . My chart shows heavy accumulation of the AUD at current levels by insiders. When the AUD recovers we should benefit.
Short selling bans does not affect us- Man short sells stock indexes/commodities in the futures markets but does not deal in individual shares. If the authorities close the commodity/ futures markets that would affect us. At this point there is no evidence they will do so.
The Man funds has weathered the worst of the current financial collapse and remember we have a capital guarantee unlike unit trust funds. I have confidence Man will again achieve new equity highs.
Next Sunday 12 October we are holding 2 presentations at the Best Western Seri Pacific Hotel (Formerly Pan Pacific Hotel) from 2 PM to 3 45 PM and 4 15 to 6 PM.
Title of the Presentation Is this the 1997/1998 collapse again and what can we do to protect ourselves?
We will discuss the world market outlook, futures trading opportunities in CPO and CI. We will also preview our next foundation course.
If interested to attend, please call Chong 03 2095 3991/ 016 662 0881. We are speaking Mandaran as well as English in this presentation
Maintain your cool in the face of turmoil and panic. Warren Buffet has been buying GE, Goldman Sachs as well as other quality blue chip shares. He is still maintaining his investment portfolios. Professionals are buying in the current environment.
Have a good week
Bill
9:02 am - Looking at 4 hrs chart of FKLI
FKLI may congested at 1000. There is a strong resistance & support. Breaking 980 shud initiate a short trade here !
Saturday, October 04, 2008
10:26 am - As expected, DJIA goes into a selling after the bailout plan being ok !
DJIA is ready to break new low next week. Our KLCI may do the same too. Watch out !10:23 am - Stocks end lower amid worries after House OKs plan
Stocks end lower amid worries after House OKs plan NEW YORK (AP) - In the end, congressional approval ofthe government's $700 billion financial rescue plan Friday did little to liftthe financial markets from their growing dejection over the obstacles stillfacing the economy. Wall Street ended an intensely volatile week with the DowJones industrials falling 157 points and the major indexes all suffering biglosses. The credit markets remained stagnant, with no immediate signs of whenlending and borrowing would return to levels even approaching normalcy. Investors dumped stocks late in the session after a big intraday rally,repeating a defensive move seen throughout the yearlong market pullback. Aslawmakers voted on the plan, which President Bush quickly signed into law, theDow advanced more than 300 points. After it passed, the blue chips moved in andout of positive territory. Investors had been anxious for resolution on the government's plan to buy upbad assets from banks and other institutions to shore up the financial industryand help resuscitate credit markets. Trading across markets was turbulentthroughout the week as investors tried to determine whether the plan would winapproval and what effect it might have if implemented. On Monday, the House'srejection took Wall Street and Capitol Hill by surprise and handed stocks theirbiggest losses in years. The Senate subsequently passed a sweetened version of the plan that addedtax breaks and raised the limit on federal deposit insurance from $100,000 to$250,000. But Wall Street has come to realize passage of the plan is not a quick fix. "We're three weeks into a severe credit crunch and it's causing untoldeconomic damage to the country," said Hank Smith, chief investment officer atHaverford Investments. He said while the bill's passage will help Wall Street,the broader effects of the paralysis in the credit markets have yet to emerge. "It's fairly reasonable to assume that this should help unfreeze the creditmarkets but what we don't know is what's happened so far. How much of a dent hasit put into the economy?" The credit markets indicated increased demand for safety. The yield on thethree-month Treasury bill, the safest type of investment, fell to 0.50 percentfrom 0.70 percent late Thursday. Yields have remained low in recent weeksbecause investors are eager to safeguard their money. The yield on the benchmark 10-year Treasury note, which moves opposite itsprice, rose to 3.60 percent from 3.64 percent late Thursday. The Dow fell 157.47, or 1.50 percent, to 10,325.38 after rising more than310 points just after the House vote began. Broader stock indicators also ended lower. The Standard & Poor's 500 indexfell 15.05, or 1.35 percent, to 1,099.23, and the Nasdaq composite index fell29.33, or 1.48 percent, to 1,947.39. The Russell 2000 index of smaller companies fell 18.27, or 2.87 percent, to619.40. Wall Street's decline Friday capped an extraordinary week. On Monday, theDow tumbled 778 points after the House voted down the financial rescue plan.Then stocks enjoyed a snapback rally Tuesday as investors grew more confidentthat Washington would assemble some kind of aid; the Dow jumped 485 points.Stocks showed mostly modest moves Wednesday as investors waited for the Senateto take up the bill. Then two-day pullback Thursday and Friday left stocks withhuge losses for the week. The Dow lost 7.34 percent -- its worst weekly losssince July 2002. Meanwhile, the S&P 500 fell 10.8 percent for the week and the Nasdaqdeclined 9.38 percent. The coming week marks the one-year anniversary of the peak in the Dow andthe S&P 500, while the Nasdaq hit its peak in late October 2007. The Dow is down27 percent from its high, while the S&P 500 is off 30 percent and the Nasdaq isdown 32 percent. The Dow Jones Wilshire 5000 Composite Index, which measures 5,000 U.S. basedcompanies' stocks, saw an estimated paper loss of about $1.5 trillion for theweek, the worst weekly return since the week after trading resumed following theSept. 11, 2001, terror attacks. Outside the New York Stock Exchange, traders said the late pullback Fridayreflected a pessimism of the past year that there was little underpinning mostrallies and therefore it was prudent to lock in profits when possible. Other traders agreed. "You're probably seeing a little buy the rumor, sell the news mentality,"said Ryan Larson, senior equity trader at Voyageur Asset Management, asubsidiary of RBC Dain Rauscher. Plus, he added, there's a feeling that thisplan "isn't a quick fix." "There are still a lot of problems out there," Larson said. The bill's approval came as investors digested word that Wells Fargo Co.agreed to buy Wachovia Corp. in a $15.1 billion deal. That cheered Wall Streetbecause, unlike several recent banking tie-ups, it wasn't put together at thebehest of regulators or using government money. The agreement upends a planannounced Monday by Citigroup Inc. to acquire Wachovia's banking operations for$2.16 billion, a move orchestrated by the Federal Deposit Insurance Corp.However, Citigroup was demanding that Wachovia honor its agreement. The FDICsaid it is standing behind the agreement it made with Citigroup. Wachovia shares rose $2.89, or 74 percent, to $6.80, while Wells Fargo fell60 cents, or 1.7 percent, to $34.56. Citigroup fell $4.15, or 18 percent, to$18.35, making it by far the steepest decliner among the 30 stocks that make upthe Dow industrials. Investors also appeared relieved that the government's September employmentreport wasn't worse, although the Labor Department said payrolls shrank by159,000, more than the 100,000 economists predicted. The nation's unemploymentrate remained flat at 6.1 percent, as expected. The dollar slipped against most other major currencies, while gold pricesfell. Light, sweet crude fell 9 cents to settle at $93.88 on the New YorkMercantile Exchange. Declining issues outnumbered advancers by about 2 to 1 on the New York StockExchange, where consolidated volume came to 6.5 billion shares, compared with6.2 billion shares traded Thursday. Overseas, Japan's Nikkei stock average fell 1.94 percent. Britain's FTSE 100rose 2.26 percent, Germany's DAX index rose 2.41 percent, and France's CAC-40rose 2.96 percent. The Dow Jones industrial average ended the week down 817.75, or 7.35percent, at 10,325.38. The Standard & Poor's 500 index finished down 113.78, or9.38 percent, at 1,099.23. The Nasdaq composite index ended the week down235.99, or 10.81 percent, at 1,947.39. The Russell 2000 index finished the week down 85.39, or 12.12 percent, at619.40. The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted indexthat measures 5,000 U.S. based companies -- ended at 11,294.13, down 1,052.90points, at 8.53 percent, for the week. A year ago, the index was at 15,551.90. Copyright 2008 Associated Press. All rights reserved. This material may not be
Friday, October 03, 2008
4:11 pm - It becomes increasingly difficult to trade FKLI
Both short and Long trade also stop out today ! FKLI market is moving sideway !
9:13 am - DJIA is still in a downtrend !
Watch out for tonite voting of the US House for the bailout plan for US Banks.
Tuesday, September 30, 2008
5:44 pm - FKLI has a strong spring. Strength comes from down bar !
FKLI closed with +6.5 to 1017.5. Oct 08 contract closed higher at 1032.
11:15 am - Market Report on DJIA -777 plunge by Bill Wermine !
Dear Traders,
There has been threats by George Bush that if the congress does does not pass the bailout bill the world financial system will collapse. Bush used the same tactics to scare the public and congress to authorize the invason of Iraq. His action was based on lies as Iraq was never a threat to the US and had nothing to do with 9-11 and had no weapons of mass distructions.
Bush with his chronies Bernenke and Paulson are lying to the public again by using fear and panic to force the congress to agree to a plan which is ill conceived. They have got the media behind them to brainwash the public.
This plan is not in the public's interest but in the interest of the super rich, the well connected and the banking establishment. The insiders will engineer a stock market panic to scare the public into agreeing with their plan. The super rich insiders will buy the shares sold by the sheep who are caught up in fear and doom and gloom
Do not be fooled- never sell a low. Smart money will take the other side of your trade.
Michael Moore who is a thorn in the side of Bush and his band of crooks and thieves wrote an interesting analysis which I share below.
Also, I am happy to be living in Malaysia where the markets and the economy are run more prudently than in the US, UK and Europe. Malaysian banks are not caught up in the mortgage sub prime collapse which was engineered by the investment banks on Wall St to enrich the priviledged few.
Continue to hold quality KLSE shares and do not panic !
Keep your cool
Bill
Let me cut to the chase. The biggest robbery in the history of this country is taking place as you read this. Though no guns are being used, 300 million hostages are being taken. Make no mistake about it: After stealing a half trillion dollars to line the pockets of their war-profiteering backers for the past five years, after lining the pockets of their fellow oilmen to the tune of over a hundred billion dollars in just the last two years, Bush and his cronies -- who must soon vacate the White House -- are looting the U.S. Treasury of every dollar they can grab. They are swiping as much of the silverware as they can on their way out the door.
No matter what they say, no matter how many scare words they use, they are up to their old tricks of creating fear and confusion in order to make and keep themselves and the upper one percent filthy rich. Just read the first four paragraphs of the lead story in last Monday's New York Times and you can see what the real deal is:
"Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it. "Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages. "At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees. "Nobody wants to be left out of Treasury's proposal to buy up bad assets of financial institutions."
Unbelievable. Wall Street and its backers created this mess and now they are going to clean up like bandits. Even Rudy Giuliani is lobbying for his firm to be hired (and paid) to "consult" in the bailout.
The problem is, nobody truly knows what this "collapse" is all about. Even Treasury Secretary Paulson admitted he doesn't know the exact amount that is needed (he just picked the $700 billion number out of his head!). The head of the congressional budget office said he can't figure it out nor can he explain it to anyone.
And yet, they are screeching about how the end is near! Panic! Recession! The Great Depression! Y2K! Bird flu! Killer bees! We must pass the bailout bill today!! The sky is falling! The sky is falling!
Falling for whom? NOTHING in this "bailout" package will lower the price of the gas you have to put in your car to get to work. NOTHING in this bill will protect you from losing your home. NOTHING in this bill will give you health insurance.
Health insurance? Mike, why are you bringing this up? What's this got to do with the Wall Street collapse?
It has everything to do with it. This so-called "collapse" was triggered by the massive defaulting and foreclosures going on with people's home mortgages. Do you know why so many Americans are losing their homes? To hear the Republicans describe it, it's because too many working class idiots were given mortgages that they really couldn't afford. Here's the truth: The number one cause of people declaring bankruptcy is because of medical bills. Let me state this simply: If we had had universal health coverage, this mortgage "crisis" may never have happened.
This bailout's mission is to protect the obscene amount of wealth that has been accumulated in the last eight years. It's to protect the top shareholders who own and control corporate America. It's to make sure their yachts and mansions and "way of life" go uninterrupted while the rest of America suffers and struggles to pay the bills. Let the rich suffer for once. Let them pay for the bailout. We are spending 400 million dollars a day on the war in Iraq. Let them end the war immediately and save us all another half-trillion dollars!
I have to stop writing this and you have to stop reading it. They are staging a financial coup this morning in our country. They are hoping Congress will act fast before they stop to think, before we have a chance to stop them ourselves. So stop reading this and do something -- NOW! Here's what you can do immediately:
1. Call or e-mail Senator Obama. Tell him he does not need to be sitting there trying to help prop up Bush and Cheney and the mess they've made. Tell him we know he has the smarts to slow this thing down and figure out what's the best route to take. Tell him the rich have to pay for whatever help is offered. Use the leverage we have now to insist on a moratorium on home foreclosures, to insist on a move to universal health coverage, and tell him that we the people need to be in charge of the economic decisions that affect our lives, not the barons of Wall Street.
2. Take to the streets. Participate in one of the hundreds of quickly-called demonstrations that are taking place all over the country (especially those near Wall Street and DC).
3. Call your Representative in Congress and your Senators. (click here to find their phone numbers). Tell them what you told Senator Obama.
When you screw up in life, there is hell to pay. Each and every one of you reading this knows that basic lesson and has paid the consequences of your actions at some point. In this great democracy, we cannot let there be one set of rules for the vast majority of hard-working citizens, and another set of rules for the elite, who, when they screw up, are handed one more gift on a silver platter. No more! Not again!
Yours,Michael MooreMMFlint@aol.comMichaelMoore.com
P.S. Having read further the details of this bailout bill, you need to know you are being lied to. They talk about how they will prevent golden parachutes. It says NOTHING about what these executives and fat cats will make in SALARY. According to Rep. Brad Sherman of California, these top managers will continue to receive million-dollar-a-month paychecks under this new bill. There is no direct ownership given to the American people for the money being handed over. Foreign banks and investors will be allowed to receive billion-dollar handouts. A large chunk of this $700 billion is going to be given directly to Chinese and Middle Eastern banks. There is NO guarantee of ever seeing that money again.
P.P.S. From talking to people I know in DC, they say the reason so many Dems are behind this is because Wall Street this weekend put a gun to their heads and said either turn over the $700 billion or the first thing we'll start blowing up are the pension funds and 401(k)s of your middle class constituents. The Dems are scared they may make good on their threat. But this is not the time to back down or act like the typical Democrat we have witnessed for the last eight years. The Dems handed a stolen election over to Bush. The Dems gave Bush the votes he needed to invade a sovereign country. Once they took over Congress in 2007, they refused to pull the plug on the war. And now they have been cowered into being accomplices in the crime of the century. You have to call them now and say "NO!" If we let them do this, just imagine how hard it will be to get anything good done when President Obama is in the White House. THESE DEMOCRATS ARE ONLY AS STRONG AS THE BACKBONE WE GIVE THEM. CALL CONGRESS NOW.
There has been threats by George Bush that if the congress does does not pass the bailout bill the world financial system will collapse. Bush used the same tactics to scare the public and congress to authorize the invason of Iraq. His action was based on lies as Iraq was never a threat to the US and had nothing to do with 9-11 and had no weapons of mass distructions.
Bush with his chronies Bernenke and Paulson are lying to the public again by using fear and panic to force the congress to agree to a plan which is ill conceived. They have got the media behind them to brainwash the public.
This plan is not in the public's interest but in the interest of the super rich, the well connected and the banking establishment. The insiders will engineer a stock market panic to scare the public into agreeing with their plan. The super rich insiders will buy the shares sold by the sheep who are caught up in fear and doom and gloom
Do not be fooled- never sell a low. Smart money will take the other side of your trade.
Michael Moore who is a thorn in the side of Bush and his band of crooks and thieves wrote an interesting analysis which I share below.
Also, I am happy to be living in Malaysia where the markets and the economy are run more prudently than in the US, UK and Europe. Malaysian banks are not caught up in the mortgage sub prime collapse which was engineered by the investment banks on Wall St to enrich the priviledged few.
Continue to hold quality KLSE shares and do not panic !
Keep your cool
Bill
Let me cut to the chase. The biggest robbery in the history of this country is taking place as you read this. Though no guns are being used, 300 million hostages are being taken. Make no mistake about it: After stealing a half trillion dollars to line the pockets of their war-profiteering backers for the past five years, after lining the pockets of their fellow oilmen to the tune of over a hundred billion dollars in just the last two years, Bush and his cronies -- who must soon vacate the White House -- are looting the U.S. Treasury of every dollar they can grab. They are swiping as much of the silverware as they can on their way out the door.
No matter what they say, no matter how many scare words they use, they are up to their old tricks of creating fear and confusion in order to make and keep themselves and the upper one percent filthy rich. Just read the first four paragraphs of the lead story in last Monday's New York Times and you can see what the real deal is:
"Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it. "Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages. "At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees. "Nobody wants to be left out of Treasury's proposal to buy up bad assets of financial institutions."
Unbelievable. Wall Street and its backers created this mess and now they are going to clean up like bandits. Even Rudy Giuliani is lobbying for his firm to be hired (and paid) to "consult" in the bailout.
The problem is, nobody truly knows what this "collapse" is all about. Even Treasury Secretary Paulson admitted he doesn't know the exact amount that is needed (he just picked the $700 billion number out of his head!). The head of the congressional budget office said he can't figure it out nor can he explain it to anyone.
And yet, they are screeching about how the end is near! Panic! Recession! The Great Depression! Y2K! Bird flu! Killer bees! We must pass the bailout bill today!! The sky is falling! The sky is falling!
Falling for whom? NOTHING in this "bailout" package will lower the price of the gas you have to put in your car to get to work. NOTHING in this bill will protect you from losing your home. NOTHING in this bill will give you health insurance.
Health insurance? Mike, why are you bringing this up? What's this got to do with the Wall Street collapse?
It has everything to do with it. This so-called "collapse" was triggered by the massive defaulting and foreclosures going on with people's home mortgages. Do you know why so many Americans are losing their homes? To hear the Republicans describe it, it's because too many working class idiots were given mortgages that they really couldn't afford. Here's the truth: The number one cause of people declaring bankruptcy is because of medical bills. Let me state this simply: If we had had universal health coverage, this mortgage "crisis" may never have happened.
This bailout's mission is to protect the obscene amount of wealth that has been accumulated in the last eight years. It's to protect the top shareholders who own and control corporate America. It's to make sure their yachts and mansions and "way of life" go uninterrupted while the rest of America suffers and struggles to pay the bills. Let the rich suffer for once. Let them pay for the bailout. We are spending 400 million dollars a day on the war in Iraq. Let them end the war immediately and save us all another half-trillion dollars!
I have to stop writing this and you have to stop reading it. They are staging a financial coup this morning in our country. They are hoping Congress will act fast before they stop to think, before we have a chance to stop them ourselves. So stop reading this and do something -- NOW! Here's what you can do immediately:
1. Call or e-mail Senator Obama. Tell him he does not need to be sitting there trying to help prop up Bush and Cheney and the mess they've made. Tell him we know he has the smarts to slow this thing down and figure out what's the best route to take. Tell him the rich have to pay for whatever help is offered. Use the leverage we have now to insist on a moratorium on home foreclosures, to insist on a move to universal health coverage, and tell him that we the people need to be in charge of the economic decisions that affect our lives, not the barons of Wall Street.
2. Take to the streets. Participate in one of the hundreds of quickly-called demonstrations that are taking place all over the country (especially those near Wall Street and DC).
3. Call your Representative in Congress and your Senators. (click here to find their phone numbers). Tell them what you told Senator Obama.
When you screw up in life, there is hell to pay. Each and every one of you reading this knows that basic lesson and has paid the consequences of your actions at some point. In this great democracy, we cannot let there be one set of rules for the vast majority of hard-working citizens, and another set of rules for the elite, who, when they screw up, are handed one more gift on a silver platter. No more! Not again!
Yours,Michael MooreMMFlint@aol.comMichaelMoore.com
P.S. Having read further the details of this bailout bill, you need to know you are being lied to. They talk about how they will prevent golden parachutes. It says NOTHING about what these executives and fat cats will make in SALARY. According to Rep. Brad Sherman of California, these top managers will continue to receive million-dollar-a-month paychecks under this new bill. There is no direct ownership given to the American people for the money being handed over. Foreign banks and investors will be allowed to receive billion-dollar handouts. A large chunk of this $700 billion is going to be given directly to Chinese and Middle Eastern banks. There is NO guarantee of ever seeing that money again.
P.P.S. From talking to people I know in DC, they say the reason so many Dems are behind this is because Wall Street this weekend put a gun to their heads and said either turn over the $700 billion or the first thing we'll start blowing up are the pension funds and 401(k)s of your middle class constituents. The Dems are scared they may make good on their threat. But this is not the time to back down or act like the typical Democrat we have witnessed for the last eight years. The Dems handed a stolen election over to Bush. The Dems gave Bush the votes he needed to invade a sovereign country. Once they took over Congress in 2007, they refused to pull the plug on the war. And now they have been cowered into being accomplices in the crime of the century. You have to call them now and say "NO!" If we let them do this, just imagine how hard it will be to get anything good done when President Obama is in the White House. THESE DEMOCRATS ARE ONLY AS STRONG AS THE BACKBONE WE GIVE THEM. CALL CONGRESS NOW.
9:53 am - DJIA broken thru all support way back to 2006 !
The days ahead for DJIA is either sideway or downward. Projected DJIA low can be 9800 level.
8:53 am - DJIA massive -777 pts. plunge cause FKLI Sept to drop below 1000 for the 2nd time.
No position yet but think to go LONG today for Sept as it has been oversold.
Monday, September 29, 2008
4:06 pm - FKLI breaking lower due to DJIA futures down -191 pts.
No trade was done today due to roll over by institutions.
10:53 am - FKLI is moving sideway !
It is testing 1016/1018 support to see if it can break ! FKLI is resilient at this level. Think to short higher !
10:25 am - Market Report by Bill Wermine
Dear Traders,
The world stock markets are on hold and are yet to resume their downtrends until the powers that be in Washington decide on the bailout. The cartoon below expresses
my feelings. No matter what they decide the bear is in control and will claim more victims.
The world stock markets are on hold and are yet to resume their downtrends until the powers that be in Washington decide on the bailout. The cartoon below expresses
my feelings. No matter what they decide the bear is in control and will claim more victims.
Just the way we like it, a bailout with no strings attached.
Former Republican house speaker Newt Gingrich weighed in on the Wall St bailout " I find it inconceivable that the Treasury and the Federal Reserve could manage the whole economy of Wall St. And yet that is what Paulson is proposing. I think that is an undertaking of such gigantic delusion that is will be a
nightmare," Gingrich declared.
US Treasury chief Paulson and Bernanke have used every trick in their book to prevent a bear market from materializing on Wall St, before the presidential election which now threatens to eject the Republicans from the White House. They have been unsuccessful
Notice the attached Dow Futures chart which is in a relentless downtrend. I would like to see a high volume panic capitulation which is evidence of professional buying before committing to the long side of the Dow. Even then it would be a short term trade with careful risk management
The Federal reserve has tried to put a floor under the stockmarket by slashing the federal funds rate 325 basis points from a year ago to 2 % today, far below inflation. Futures traders in Chicago are betting on a 1/4 point cut on the Fed Funds rate in October as perhaps their final bullet to halt the downwave.
In my opinion it will fail: The reason is that Wall St, and the US financial insiders/ powers- Masters of the Universe have been running perhaps the biggest pyramid scam in all of history being the subprime mortgage scam. The pyramid is collapsing- major financial houses such as Lehmen/ Bear Sterns are bankrupt. Washington Mutual, a 150 year old bank failed- being the largest bank failure in US history. Depositers in InDi Mac Bank in California are still waiting to get back their deposits after it failed. The list goes on- AIG failed being taken over by the government/ Fannie May etc etc.
The housing market in the US continues to collapse with the highest foreclosure rate since the 1931 depression. This is destroying the wealth of the Middle class whose house is their only asset.
If you have assets/currencies in the US I suggest you exit. There is a possibility the US could declare an emergency- impose exchange controls and you could not get your money out. The US mint last week suspended the sale of American Eagle/ Buffalo gold coins. In 1932 Presendent Roosevelt in the US declaired an emergency and made it a criminal offense to hold gold coins or bars. There is a huge demand for gold in the US as a safe haven. Gold dealers are selling their stock of gold coins in some places at a 10 % premium to the gold price.
Open a Phillip Wrap account in Singapore where you can hold any currency cash deposit you wish - ie AUD/ Euro/ BRL. One of my clients opened a Wrap Account and placed his funds in the Lion AUD fund. This fund only invests in short term commercial paper and AUD Treasury bills. It is super safe and for AUD Lion Fund to fail there would have to be a nuclear holocaust and Australia would cease to exist. There are no Fannie May or mortgage bonds in this portfolio. If Obama wins that could ignite some furious trends in the currencies and commodities should benefit.
Continue to run your short US Dollar/Long Euro positions. Hold quality KLSE shares focusing on shares such as Dutch Lady/ F & N and Nestle which I hold for myself and clients. We still have to eat and these companies have solid balance sheets, are well managed and will survive the current volatility. Unlike the Dow, the KLSE had a capitulation last week, selling has dried up, and a solid base is forming from 1000 to 1050. Near term target 1200. I am looking at the CPO market. If the US Dollar collapses on a hint of an Obama victory that would benefit plantation shares and the CPO futures. CPO is forming a floor, there is evidence of professional buying in this environment of maximum doom and gloom, bad news, extreme fear. Reward is the greatest when uncertainty is at the maximum.
Have a good week
Bill
9:47 am - FKLI is likely to move sideway or downward.
The market does not like the Maybank - BII deal. Maybank is suspended today and likely to move downward when it reopen.
Friday, September 26, 2008
12:07 pm - Here is chart of crude oil & Gold
Crude oil has rebounded back from below USD 100 and looking to USD110.
Gold is retreated from its recent high USD 920.0. It had a support level at usd 880.0
10:10 am - Trading Book by Stuart McPhee
Dear Trader,
My friend and colleague, Stuart McPhee, has just released his new book 'Trading In A Nutshell, 3rd edition'. Daryl Guppy wrote the forewordfor him. This is good value and I highly recommend his very reasonably priced products. Stuart is the real deal. He walks the walk rather than talk the talk. He trades shares and futures in the Australian market and his focus is on Discipline and having a Trading Plan- without which you are a dead duck. He is also an honest man and keeps his word.
Several of our Traders Club members including myself and Martin/ attended his seminar on Trading Plans in the Concord Hotel in 2004 and it helped our trading results Acknowledging that there are thousands of trading books out there, he decided to do something a little different with this book.
He has created a little trading bundle to accompany the book, however it is only available from his website - not in bookstores. He has included about 10 hours of multimedia training, both video and audio tutorials on a bonus CD to compliment the book.
The bonus disc contains a number of useful items, including: Supplementary instructional videos corresponding to the charts withinthe book to further explain his trade examples and strategies. > 7 hours of audio interviews with him answering his subscribers' toptrading questions, including how he trades his two different methods.> Two additional PowerPoint presentations on chart patterns and reversal signals from his Triple your Trading Profits Workshop.
You can read more about it athttp://www.1shoppingcart.com/app/?Clk=2602942Make sure you grab a copy to empower you to compile that trading plan you need. Before you ask what is different in this book from the othertwo editions, please go and watch the video from Stuart at http://www.1shoppingcart.com/app/?Clk=2602942
I know having a library full of quality trading books is essential and has helped me - I also know this book will be a valuable addition foryours.
Regards,
Bill
PS: If you wait to buy the book in MPH you will only get the book - nothing more and not have the chance to get the bonus products. You will also have the opportunity to deal directly with Stuart.
My friend and colleague, Stuart McPhee, has just released his new book 'Trading In A Nutshell, 3rd edition'. Daryl Guppy wrote the forewordfor him. This is good value and I highly recommend his very reasonably priced products. Stuart is the real deal. He walks the walk rather than talk the talk. He trades shares and futures in the Australian market and his focus is on Discipline and having a Trading Plan- without which you are a dead duck. He is also an honest man and keeps his word.
Several of our Traders Club members including myself and Martin/ attended his seminar on Trading Plans in the Concord Hotel in 2004 and it helped our trading results Acknowledging that there are thousands of trading books out there, he decided to do something a little different with this book.
He has created a little trading bundle to accompany the book, however it is only available from his website - not in bookstores. He has included about 10 hours of multimedia training, both video and audio tutorials on a bonus CD to compliment the book.
The bonus disc contains a number of useful items, including: Supplementary instructional videos corresponding to the charts withinthe book to further explain his trade examples and strategies. > 7 hours of audio interviews with him answering his subscribers' toptrading questions, including how he trades his two different methods.> Two additional PowerPoint presentations on chart patterns and reversal signals from his Triple your Trading Profits Workshop.
You can read more about it athttp://www.1shoppingcart.com/app/?Clk=2602942Make sure you grab a copy to empower you to compile that trading plan you need. Before you ask what is different in this book from the othertwo editions, please go and watch the video from Stuart at http://www.1shoppingcart.com/app/?Clk=2602942
I know having a library full of quality trading books is essential and has helped me - I also know this book will be a valuable addition foryours.
Regards,
Bill
PS: If you wait to buy the book in MPH you will only get the book - nothing more and not have the chance to get the bonus products. You will also have the opportunity to deal directly with Stuart.
9:21 am - FKLI is moving sideway and poised to downward movement.
News of US Bank bailout may not fall through.
Thursday, September 25, 2008
2:51 pm - FKLI break down at 1020/1022.
However, there is a lot of support at these level. Out of our LONG position.
9:04 am - FKLI gap down due to no confirmation of bailout plan from the US Government.
Support at 1020/1018. Breaking this level is bad for LONG position.
Wednesday, September 24, 2008
9:35 am - FKLI is not going any lower today as DJIA futures is up +86
Warren Buffett is buying Goldman Sach so there is a support for the market and also there are more financial stocks in US been added into banning naked short selling.
On top of that, there is also the institution rollover for their contract. you will notice higher volume in Sept and Oct 2008 contracts.
Tuesday, September 23, 2008
9:43 am - FKLI gap down but move upside. The market is strong due to higher crude oil closing !
Our FKLI is likely to move sideway for this week due to falling regional market but raising crude oil prices.
Monday, September 22, 2008
5 pm - FKLI is moving sideway waiting for news !
This morning, FKLI reacted to repegging of ringgit so it drops. After lunch, when confirmed no repegging FKLI continue to move back up.
10:47 am - Market Outlook by Bill Wermine
Dear Traders,
Five years ago Warren Buffet called CDS (credit default swaps) financial weapons of mass distruction. He directed his insurance arm of Berkshire Hathaway (BKK) to exit the business. The gut wrenching turmoil in the credit markets this week proved that Buffet was right. The collapse of Bear Sterns, the sale of Merrill Lynch to Bank of America, bankruptcy of Lehman Brothers, and the meltdown of AIG were all related to CDS that led to the fall of these financial giants. AIG received an emergency $85 billion loan from the Federal Reserve on 16 Sept to stave off bankruptcy and prevent a nuclear explosion in the CDS market and a possible world wide financial panic.
This is leverage in reverse and the government was forced to step in to meet the margin call. The US taxpayers are now on the hook for over USD 3890 for each man woman and child. The government will monitize this debt by printing money . That is why you should be out of the US Dollar and into Gold and commodities.
CDS profit when housing prices go up and as long as the house buyers pay their mortages, the sellers make a killing. Unfortunately, the US is in a major recession with massive job losses, factories closing, auto sales in a collapse, roaring inflation and over 10 % of Americans are in default or behind in their house payments.
The US Governement can not take care of their returning disabled Iraq war veterans many of whom live on the streets. The government tries to cover this up and deny it but the public seems to be getting smarter so Obama has a chance to win. If he does expect the US Dollar to collapse and our plantation shares/Man Hedge Fund to go up
(check out http://www.intrade.com/ ) This is a bookmaker in Ireland wher you can place bets on anything including the US election. This is real time real money. Today Obama took a big jump and is now leading McCain.
I like the AUD - (Our AUD Man funds were up 2.8 % last week recovering a bit from the August loss). Plantation companies should also perform but avoid banks, construction and property companies, REITs, bonds, and deal in only the highest quality blue chip consumer shares with dividends.
We have had massive selling of Plantation shares as Crude Palm Oil has lost half its value in the last 6 months. - Everyone is bearish. Last week CPO
hit a monthly support and bounced over 200 points. Plantation shares were up across the board over 10 %. Tom Williams of TradeGuider calls this pushing through supply. It is important to look at monthly and weekly charts to gain a better view. The palm oil charts are definitely positive as professionals load up in this pessimistic and fearful environment. There is strong evidence of hidden potential buying.
How do we navigate this financial storm and avoid going down with the ship like Captain Smith in the Titanic?
Consider Man Investments- new capital guaranteed fund to launch on 29 September. This can be your financial lifeboat. Learn to trade on line- Jupiter Securities offers the cheapest commissions in Malaysia - only .05 or RM 8 + clearing fees. Those graduates of our Master the Markets/TradeGuder users are equipped to making quick profits even in this environment.
Five years ago Warren Buffet called CDS (credit default swaps) financial weapons of mass distruction. He directed his insurance arm of Berkshire Hathaway (BKK) to exit the business. The gut wrenching turmoil in the credit markets this week proved that Buffet was right. The collapse of Bear Sterns, the sale of Merrill Lynch to Bank of America, bankruptcy of Lehman Brothers, and the meltdown of AIG were all related to CDS that led to the fall of these financial giants. AIG received an emergency $85 billion loan from the Federal Reserve on 16 Sept to stave off bankruptcy and prevent a nuclear explosion in the CDS market and a possible world wide financial panic.
This is leverage in reverse and the government was forced to step in to meet the margin call. The US taxpayers are now on the hook for over USD 3890 for each man woman and child. The government will monitize this debt by printing money . That is why you should be out of the US Dollar and into Gold and commodities.
CDS profit when housing prices go up and as long as the house buyers pay their mortages, the sellers make a killing. Unfortunately, the US is in a major recession with massive job losses, factories closing, auto sales in a collapse, roaring inflation and over 10 % of Americans are in default or behind in their house payments.
The US Governement can not take care of their returning disabled Iraq war veterans many of whom live on the streets. The government tries to cover this up and deny it but the public seems to be getting smarter so Obama has a chance to win. If he does expect the US Dollar to collapse and our plantation shares/Man Hedge Fund to go up
(check out http://www.intrade.com/ ) This is a bookmaker in Ireland wher you can place bets on anything including the US election. This is real time real money. Today Obama took a big jump and is now leading McCain.
I like the AUD - (Our AUD Man funds were up 2.8 % last week recovering a bit from the August loss). Plantation companies should also perform but avoid banks, construction and property companies, REITs, bonds, and deal in only the highest quality blue chip consumer shares with dividends.
We have had massive selling of Plantation shares as Crude Palm Oil has lost half its value in the last 6 months. - Everyone is bearish. Last week CPO
hit a monthly support and bounced over 200 points. Plantation shares were up across the board over 10 %. Tom Williams of TradeGuider calls this pushing through supply. It is important to look at monthly and weekly charts to gain a better view. The palm oil charts are definitely positive as professionals load up in this pessimistic and fearful environment. There is strong evidence of hidden potential buying.
How do we navigate this financial storm and avoid going down with the ship like Captain Smith in the Titanic?
Consider Man Investments- new capital guaranteed fund to launch on 29 September. This can be your financial lifeboat. Learn to trade on line- Jupiter Securities offers the cheapest commissions in Malaysia - only .05 or RM 8 + clearing fees. Those graduates of our Master the Markets/TradeGuder users are equipped to making quick profits even in this environment.
For the more adventurous try the CI and CPO futures. Give Martin a call on this. He is looking for 2 more futures brokers and will train you. 
Hold on to you hat for a wild ride next week
Bill
10:05 am - For short term, cut the long position at 1032/1033.
For the longer term LONG, put stop at 1016.5
9:19 am - FKLI gap up due to DJIA higher closing.
Right now ! DJIA futures -139 pts. So there is a limit to how high FKLI can go up today !
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