Saturday, January 29, 2011

KCPO:- Market Gone Sideway So Stay Out -1/31/2011

This market has gone into another range bound situation. The ADX has fallen below 20's confirming the lack of trend. The wiggling DMI is also confirming this. As there is the presence of a nasty bearish divergence and possible Head & Shoulder pattern, together with both Stochastic and MACD are negative ,  I would look forward for new sell signal over a buy .


The weekly chart still offer no sell signal. The MACD has turned weak as it has begun to dip its head. But it remains positive. The Stochastic is still above the 80's signal line. Price tested below the top Bollinger Band but managed to close back above the support. Watch 3605 for support.

I would advocate you should stay out of this market for the time being. As the trading margins have been raised substantially . The rest of the world's major markets are still running while we are having a long holiday. With many new political turmoils around Northern Africa and Middle East happening, plus the  EU financial crisis are still lurking,  it may NOT be prudent for us to park in positions over the long holiday.

I also take note that many of major FX pairs seem to be making their major terminal points, this usually mean that there will be major shift in the global economies soon.  One more reason that we should not hold any position over the long holiday.

Here is to wish everybody a safe, healthy and prosperous Chinese New Year.
FKLI:- The Bear Is Officially Back - 1/31/2011

Last week I told everybody that the daily chart is screwed with practically everything calling for a sell. This week the D- finally crosses above the falling D+ and prices went below the bottom Bollinger Band. These are the final bits of confirmation for the bears. You should pay attention to the MACD which is about to cross below its zero signal line which usually add more weight to the bears. What may be adding more power to the bear is the ADX which has begun to raise its head. As its current value is at 28, whatever follow may be a very strong trend.

Place stop at 1534.

The weekly chart finally flash new sell signal as the Stochastic crosses down its 80's signal line while the MACD does a negative cross down. Price has also closed below the upper Bollinger Band. You must pay attention to the bearish divergence formed in this chart. Whenever this kind of formation plays out, it is always a passport to make respectable money for your shorts trade.

Last week someone wrote in the papers trying to "explaining" (maybe more to himself) that the foreigners have not left the market but only liquidate part of their holdings in the local stocks. But I note he did not provide any evidence to support his claim. Whenever the market take a serious beating, there are always people who try to lie to themselves by saying "it is ok, ABC stock is a blue chip with solid earnings , reliable management etc , so I can hold on to them.  But unfortunately those good conditions still do NOT stop their prices getting trashed.

Same here as the futures market. Technical analysis allows us to trade the market without any emotional attachment. When the "writings on the wall" says sell, we just sell. And we can do it without getting influenced by all the "experts" rantings about how high can the market goes. Maybe the market may do another extended wave and reach newer highs later, but TODAY, it is all about selling.

Friday, January 28, 2011

Marvelettes' Gladys Horton   Dies at 66



Horton sang lead on 

'Please Mr. Postman' 

and 'Too Many Fish In The Sea'

Gladys Horton, a founding member of the pioneering Motown girl group The Marvelettes who sang lead on their 1961 classic "Please Mr. Postman," died January 26th in Sherman Oaks, California from complications related a stroke. She was 66.
Smokey Robinson's Motown Memories

Horton formed The Marvelettes (then known as the Casinyets) at Michigan's Inskter High School with members of her Glee Club when she was just 15. A 1961 talent show caught the attention of one of their teachers, who arranged an audition at Motown with Berry Gordy and Smokey Robinson. The two-year old label had no experience with girl groups, but they signed the group — largely based on the powerful vocals of Horton and her group-mate Wanda Young.

Motown's Lost Heroes Emerge
In the summer of 1961 Motown released their debut single "Dear Mr. Postman," which featured Marvin Gaye on drums. (Watch Horton perform the song at a 2005 concert below.) It eventually shot to Number One and the Marvelettes were put on the road. "We went through hell on those tours," Marvelette Wanda Young recalled in J. Randy Taraborrelli's 1986 book Motown. "It was so bad — the traveling, the food, the accommodations — that Juanita [Coward] went right into a nervous breakdown. We had to put her under medical care and she left the group in 1963." Despite the difficulties, the group's success helped transform Motown into a major record label and paved the way for The Ronettes, The Supremes and all girl groups that followed.

Horton sang lead on many of the group's other early 1960s hits, including "Beechwood 4-5789," "Playboy" and "Too Many Fish In The Sea." By the mid-1960s Motown turned their attention towards The Supremes and Martha & The Vandellas, and the Marvelettes' winning streak slowed down. In 1965 Wanda Young began singing lead on many songs (including "Don't Mess With Bill") and in 1967 Horton left the group — in part to care for her handicapped son.

When Horton returned to the stage in later years she had to tour as "Gladys Horton of the Marvelettes" because she didn't own the name rights, a very common situation for artists of that era. She continued to regularly perform until she suffered a stroke last year.

"Please Mr. Postman" has been covered frequently, including a version by The Beatles on their With the Beatles album. Sung by John Lennon, their version reverses the genders. Later, a second hit version was recorded by The Carpenters, whose version took the song again to number one on the Hot 100 in early 1975. The Pat Boone Family released their version of the song at approximately the same time, resulting in both versions appearing simultaneously on the South African Hit Parade. The Carpenters' cover version was also sampled by rapper Juelz Santana for his single "Oh Yes". It is used by the Rob, Arnie and Dawn Show to introduce their Listener Mail segment, and was sung by the presenters of British Saturday morning show SMTV Live to introduce the mailbag section.

  Andy Greene

偉大祖國被禁民間賀歲官逼民反短 片:《小兔子哐哐》

按中國曆法,我們就快踏入農曆的新一年,明年按中國傳統十二生肖,將是兔年,我們在大部份傳媒看到的偉大祖國前景,不是小好,而是一片大好!正當美帝經濟積弱、歐盟那現代新羅馬帝國又未能坐大之時,偉大祖國這經濟 巨龍,又豈非獨領風騷?

是耶?非耶?偉大祖國真的是如此一個鐵桶江山,可以千秋萬代?A傳來一段內地被禁的兔年賀歲短片《小兔子哐哐》,以溫純的小兔,被猛虎逼得紅 了眼:兒子被毒奶弄死、家園被強拆、妻子、老父被「虎剛」車死,虎逼民反,溫純小兔也露出尖牙,咬死作威作福、騎在溫純小兔頭上的猛虎!


「現在刪除了,就是因為可能有動畫片的暴力吧。不知道別人怎麼去理解的,反正我做事情­恐怕檢查部門經常刪除東西。從我來講我不希望被刪除, 但是可能觸犯了它們自己的規定,­或者統一規定,我也不知道是哪兒觸犯了。所以,被刪掉,我無可奈何啊。」

真的,這條動畫或許很「暴力」,但它「真正」的「罪名」是預言了中共會出現官逼民反,若中共仍是如此幹下去,終有一天,當一眾溫純的小兔,走 到絕路,又無法申訴之時,就會群起和猛虎對抗!

看不到今天偉大祖國,有何方法避免走上這一條絕 路。



Thursday, January 27, 2011

Milwaukee auditioner churns out impressive rendition of Marvin Gaye classic.

Jerome Bell turned out an extra soulful version of R&B great Marvin Gaye’s baby-making classic “Let’s Get It On” during the “American Idol” Milwaukee auditions and managed to avoid a cheesy cover of a challenging song in favor of a rafter-rattling rendition of the 1973 jam. 

Sporting a brown fedora, black jacket, white T-shirt and silver kicks he lovingly referred to as “space boots,” the native New Yorker busted out a trill-heavy version of the track as his mother rooted for him outside the audition. Bell, who honed his chops belting at bar mitzvahs and weddings, took the sensual midtempo jam to church with bold, full vocals that he sometimes stretched to a dazzling falsetto, snapping his fingers and bopping his head along the way. 

After suffering through a slew of subpar Midwestern hopefuls, the performance turned the judges into believers as well. “Hot, crazy vocals, in tune, control, tender, the right moments,” Randy Jackson gushed. “I like you.” 

Jennifer Lopez concurred, describing Bell’s voice as “loud, soft, sweet, powerful.” 

Jackson summed up the panel’s reactions by pointing out Bell got “all of the isms jumping off.” 

Steven Tyler echoed Jackson’s sentiments with his trademark wit, adding that Bell prompted “none of the ‘wasms’ ” 

Ultimately, the Aerosmith frontman simply pegged the audition with some impassioned nods of approval and two simple words: “So good.” 

And just like that, Bell, who said he was just trying to make it to Hollywood, was officially headed West. 

 By Mawuse Ziegbe

Sunday, January 23, 2011

KCPO:- Will The Market Collapse Again ? -1/24/2011


As the ADX has been falling, I am applying the Stochastic to trade this market. When price failed to take out  the lower Bollinger Band but instead went back up to close up above the level, I decided to take out my shorts positions. I turned long the next day when Stochastic turned positive again with price stayed above the lower Bollinger Band. I will place stop at 3667.


The weekly ADX has turned flat. As it is now above both the D+ and D-, it may be signaling the end of the prior trend. The weekly chart still offer no sell signal as the Stochastic still maintain above the 80's and MACD stays positive while prices stay above the upper Bollinger Band. Any breach of 3640 should ring a new sell signal.

As the ADX continues to fall toward the 20's, I would advocate short term trading as it may develop into another range bounding situation. But the bearish divergence is so glaring that I think this market may just do another collapse soon.

FKLI:- Will There Be A CNY Rally  ? - 1/24/2011

FKLI  has now suffered some serious technical damage to its daily chart. The Stochastic is breaking down below its 80's signal line while the MACD has a negative crossover. At the same time, prices closed below the upper and middle Bollinger Band (the middle band is effectively the widely watched 20 periods moving average). All these 3 factors are yelling for a sell. I also take note that the ADX is now above both the D+ and D- and now has hooked down, this is a classic confirmation that the prior cycle has ended. I am also waiting for the D+ to go below the D- by the coming week, when if that happens, it will add on another sell signal.

Place stop at 1575

The weekly chart may not has flashed any sell signal yet, but it has definitely turned XXX ugly. Though both the Stochastic and MACD remain positive and they have begun to hook down. So by the coming week, if prices continue to weaken, we should definitely see a negative crossing. The ADX has turned flat signifying the prior trend may has stalled. The Japanese candlestick pattern is also bearish as last week's was a small body with a long lower shadow which usually mean indecision after a large body white candlestick 3 weeks ago. The current week is large black candlestick that closed below previous week's low. When I read these 3 candlesticks together , I take it as a sell confirmation. But to have a more solid confirmation, I would watch price breaking below 1532 and a negative cross down by the Stochastic and MACD.

The bearish divergences which should be formed by the coming week is really going to be problematic for the bulls in this market. If you are in equities , then I think you should start taking profit on your portfolio, especially if you are holding those so called blue chips counters. If the bearish divergence is to played out accordingly, it would be an extremely profitable trade for the short sellers.

Saturday, January 22, 2011

-- 就白宫国宴上的辱美事件,魏京生给美国国会领袖们的信
编者按:过 去的60多年来,中共潜心发展并隐藏它与民主西方敌对的策略与内容,并将其经验代代相传。当参议员里德说:“我明天要回华盛顿与中国的主席会面。他是一个 独裁者”时,他指的是中共之下的那个政权,而胡锦涛是它的象征。美国总统还没有“见”到那个系统的核心。他们以为那是冷战时的苏联。但是,从第二次世界大 战开始的苏联从头就是一个可信的对手,而毛泽东则犹如一个在世界不关心的那个角落里突然崛起的暴发户。总之,俄国人毕竟和美国人一样是同一个西方文化的一 部分,因此他们的行为也比较可以预料。而一些美国人包括他们的总统却并不懂中国,尤其是那些中共独裁者。这些独裁者既不在乎历史,也不想和民主西方共享同 种文明与价值观。为了争个上手,他们会毫不迟疑地使用诡计和羞辱来给自己挣分。在中国,他们以此来对待本国的老百姓;到了国外,他们又以同样手法对待在白 宫招待他们的主人。
__ __ __
就在白宫,奥巴马总统招待胡锦涛的晚宴最后的音乐会上,中国钢琴家朗朗演奏了一支中国歌曲。(连接:从6:24开始。)演奏之后,总统先生和胡锦涛都感谢了艺术家,并且借机大谈“合作、桥梁”等等。晚宴结束时,胡锦涛这个一个以呆板著名的人居然特意热情拥抱了演奏歌曲的艺术家(连接: 靠近最后的地方)。
作 为世界头号专制政权的独裁者,胡锦涛希望用这种方式来羞辱美国,这很正常。不正常的是:这不是在中国的国宴上,而是在美国总统的国宴上。也就是说,是美国 人在自己羞辱自己。奥巴马总统先生怎么会让这样的羞辱发生在他的白宫里,还表示“异常骄傲",甚至热情洋溢地赞扬羞辱美国人的“艺术家”并向独裁者表示 “盼望许多年的合作”呢?(网上的一些中国愤青已经有评语:正确的地方,正确的时间,正确的歌!)


Friday, January 21, 2011

Malaysia's  Capital Flight - 
Chinese ""  balik Cina "  ?

Money leaves the country on an unprecedented scale

Churches are not the only thing to have been going up in flames in Malaysia. Take a look at the nation's foreign exchange reserves. They fell by close to 25 percent during 2009 according to investment bank UBS even though the country continued to run a huge surplus on the current account of its balance of payments.

Says UBS: "Question: which Asian country had the biggest FX losses in 2009?" The answer is Malaysia and by a very large margin; we estimate that official reserves fell by well more than one quarter on a valuation-adjusted basis". It describes the situation as "bizarre" and contrasts Malaysia with other countries with large current account surpluses – Thailand, China, Taiwan, Singapore, and Hong Kong – which have seen their reserves increase – as should be expected.

In short there has been an exodus of money from Malaysia on a scale which surpasses that which occurred during the Asian crisis. Nor is this just a mirage. The decline is also reflected in a sudden decline in base money supply – even while, thanks to Bank Negara, broader M2 has continued to grow modestly.

Who is responsible for this massive outflow? And where has it gone? The questions cannot be answered from the data and probably will not be by a government that knows its own state-controlled enterprises, headed by Petronas, may probably be responsible for part of it. The more certain reason however is the outflow of local private capital has been taking place on an unprecedented scale in response to political instability, massive official corruption and discrimination against non-Malays.

This capital bloodletting has as yet attracted little attention because Malaysia's foreign debt levels had declined dramatically since the Asian crisis and its reserves reached very healthy levels. So the outflow has not disturbed the financial markets, and Bank Negara has easily been able to keep interest rates low and the currency strong.

But unlike 1998, when the exodus of hot foreign money was a major contributor to the crisis, foreigners cannot be blamed. There is little speculative interest in the ringgit and the Malaysian bourse has rather fallen off the map as far as foreign institutional money is concerned. The BRICs, India, China, Russia, Brazil have taken the merging market lead once dominated by Southeast Asia.

Nor is there much evidence that the Middle East money which was supposed to be flowing into Muslim Malaysia, into holiday apartments or Johor's massive Iskandar development zone, has been much in evidence. Malaysia's one recent success, the development of its sukuk (Islamic bond) market may have caused more capital outflow than inflow. At any rate any overall net inflow of foreign capital whether into bonds, equities, factories or real estate has been dwarfed by the exodus of Malaysian money.

The latter is reflected in the weakness of private sector investment, which now trails public investment. Indeed it explains why the economy remains weak despite very healthy prices for most of Malaysia's commodity exports. The nation has been running a current account surplus of more than 10 percent of gross domestic product for the past decade and hit about 17 percent of GDP in the year just ended. Initially this surplus was needed to pay down debt accumulated during the mid-1990s Mahathir boom years and to rebuild foreign exchange reserves to healthy levels.

But subsequently it became simply a consequence of the weakness of private investment. Domestic investors were discouraged by the corrupt and warped system and foreigners moved to China and elsewhere. GDP growth has become ever reliant on government stimulus – again racially biased in its allocation -- financed by a persistently large budget deficit.

Meanwhile, publicly controlled capital has been rushing overseas. Petronas has been spending its billions in profits around the world as it attempts to become a major global player – at the expense of Malaysian citizenry in general and the oil and gas producing states in particular. Other government-controlled entities such as Malayan Banking Bhd have been bidding top dollar for foreign assets – such as Bank Internasional Indonesia.

Often with the exodus of money goes an exodus of talent as highly skilled persons disadvantaged by race or, as in the case of some Malays, disgusted by local corruption or primitive religious authorities, take themselves and their capital to Australia, Canada, India, China, etc.

The 2009 reserves loss may have had some specific cause which will not be repeated. But it has merely served to underline a dismal trend which has been in evidence for the best part of a decade. Malaysia has so far been saved from itself by the commodity price gains of the past five years – with even the late 2008 collapse now largely reversed. Oil and palm oil may be off their peaks but both are now double their prices of five years ago.

It is better not to imagine what will happen to Malaysia if prices collapse to 2004 levels and stay there. Better now to address the real reasons behind capital outflow and lack of private investment.

Asia Sentinel
拒 人民幣升值 胡錦濤批美印鈔

(北京、華盛頓17日訊)中國國家主席胡錦濤訪美前夕,罕見地擺出強硬態度,表明拒絕接受美國要求中國應加快人民幣升值的論點,還反過來 批評美國的貨幣政策。


在全球關注的匯率問題方面,胡錦濤明確表明,他不能接受美國方面有關北京應讓人民幣升值的 論點。有批評指,中國低估了人民幣值,讓它在國際貿易上擁有不公平的價格優勢,造成美國龐大的貿易赤字。

胡錦濤反而批評美國聯儲局推出的量化寬鬆措施。他說:「美國的貨幣政策對全球流動資金和資金的流向造成重大影響。因此,美元的流動性應保 持在一個合理又穩定的水平。」


對於美元作為國際儲備貨幣,而全球多數大宗商品交易,以及投資和金融市場交易大多使用美元,胡錦濤表示,「現時的國際貨幣體系已是昔日產 物」。

他強調,要擴大人民幣的角色,包括最近加強人民幣在跨境貿易和投資上的應用。不過,他承認如果要實現人民幣國際化,需要一個較長的歷史過 程。




人民日報:中國 成美搖錢樹


在這篇題為「美國在對華經貿合作中受益巨大」的文章中,《人民日報》反駁美方提出中國外貿 順差過大,以及人民幣匯率被低估的觀點,認為完全沒有事實依據

文章反指美國受惠於對華經貿合作,獲利豐富。例如,據中國商務部統計,截至2010年底,美對華投資項目累計5萬9000多個,實際投入 652億2300萬美元(1993億8671萬令吉),中國已逐漸成為眾多美資企業的利潤中心。



文章也批評美國經常以反傾銷反補貼調查、知識產權保護、及自主創新政策, 向中方發難,導致近年中美經貿摩擦明顯增多


Vinyl Records Hardcore Fans !

Are record clubs the new book clubs?

Click to play
Music lovers gather for uninterrupted album appreciation at Colleen Murphy's club
A growing number of music-lovers unhappy about the way album tracks are enjoyed in a pick-and-mix fashion have decided to take action. 

The rules are strict. No talking. No texting. You must listen to every song on the album.

Classic Album Sundays treat our best-loved records like great symphonies and are being set up in London, Scotland and Wales.
Groups of music fans sit in front of a vinyl turntable, with the best speakers they can afford, dim the lights and listen to a classic album all the way through. 

This monthly club in north London is run by Colleen Murphy and for her it is a strike against "'download culture", the sense that music has just become an endless compilation of random songs used as background noise.

"Everyone, stop multi-tasking, sit down, open your ears and do some heavy listening."
The set album this month was Ziggy Stardust and the Spiders from Mars. We sat in silence even as David Bowie's record was turned over to side two.
"They've created works that have a beginning, a middle and end”

The seats were soft, someone had lit some incense. Some people closed their eyes, others nodded in rhythmic appreciation. There was a sense of being collectively submerged in Bowie's music.
"You're not even allowed to use the bathroom here, it's too noisy," says Ms Murphy.

Kate Bush's The Hounds of Love was a previous choice, and a popular one amongst the regulars. Most had heard bits of the record but few could remember sitting through it all the way through.
It is a topic that has been making the papers. Pink Floyd went to court to try to protect the integrity of albums such as Dark Side of the Moon. For music critics such as Neil McCormick of the Daily Telegraph they were totally justified.

I've started, so I'll finish...

  • Ziggy Stardust and the Spiders from Mars - David Bowie
  • The Hounds of Love - Kate Bush
  • Blue - Joni Mitchell
  • Get Happy - Elvis Costello
  • Dark side of the Moon - Pink Floyd
  • Blood on the Tracks - Bob Dylan
  • The Stone Roses - The Stone Roses
"These are works of art at their greatest level. You can pick up a Dickens book and read a little bit of it and get some pleasure but you will not get the same pleasure as you would picking it up and reading it from beginning to end."

He took me through his vinyl collection, the albums you have to listen to all the way through. Top of the list was Blue by Joni Mitchell, then in no particular order came Get Happy by Elvis Costello, Dark side of the Moon, Bob Dylan's Blood on the Tracks and all of Led Zeppelin. The list was a long one.

"They've created works that have a beginning, a middle and end, that have nuances, themes, that take you on a journey that's as great as any novel, any opera, any drama."
One of the greatest crimes he feels is to split up the suite of songs at the end of the Beatles' Abbey Road, because each song drifts in to the next. 

The little tune Her Majesty is a simple little coda to ease the tension left by the Beatles farewell to their fans, the song The End. At the end of the song there is a gap and a final crashing chord, then to relieve the tension comes 23 seconds of this little acoustic ditty. On its own it begins half way through that final chord.

"It makes no sense," says McCormick. "To split them is simply shocking, meaningless."

But to Peter Robinson of the website Pop Justice this is the past speaking.

"Most albums, you've got a pretty good idea. The bad songs are pretty bad, you know. We're busy people. Let's just get rid of them."
Every album he owns is split, analysed and re-ordered. This, he says, is progress. The listener is in control and we do not have to sit through bad music. If he were to spend time with a "classic rock" album, he says the solution is simple.

"What I would do is open the track as an audio file, take out any drum solos, look for any guitar solo, take it out, close it and put it back into iTunes."

Albums, he says, have often become meaningless. Some songs are given away as free downloads, track listings can change with bonus tracks being added or changed. You can, he says, listen all the way through but do not feel obliged to obey the whims of a pop star.
But back at the pub in Islington in London, we were coming to the emotional climax of Rock and Roll Suicide at the end of Ziggy Stardust. 

The £12,000 speakers were revealing little nuances of sound that some of us had not heard before. 

The remastered vinyl seemed to capture the feel of the 70s and I had stayed awake for almost all of it. Heads nodded, a foot quietly tapped and as the final string chord faded out the lights were turned back on.
For Gina Tapsley, it was a revelation: "Listening to an album like this shows me something new, it's always an emotional experience." 

DJ Shadow, The Stone Roses, Kanye West, Carole King. The blackboard was already filling with suggested classic albums for the months to come.


 Mr. Hu:- We Set New World High 
Standard !

Despite High Oil Prices Venezuela Falling Further into Debt

From Chevezland which gave free gas to American ghetto and selling oil to China, Cuba and his other Socialist brother states at a faction of the market price.

 Petro-dictatorships typically boom and bust with the price of oil, so you'd think that Venezuela would be riding high right now.

But a new report from Morgan Stanley presents a picture of a country that's actually falling further and further into debt, while running low on hard dollars.
The firm doesn't see an imminent credit "event" but it's not good.

There seem to be two main explanations for the apparent shortage of hard currency. One version – put forward by the authorities – is that Venezuela is embarking on a significant upgrade of its oil complex and needs major investment, especially in developing the Orinoco belt fields. However, there has been a conspicuous absence of news of major new oil investment on the ground from either official sources or the private companies operating in Venezuela. Most news accounts have focused on announcements of planned investments or signing ceremonies. Indeed, inward foreign direct investment that would be necessary to develop the Orinoco belt does not appear to have materialised. Instead, FDI has seen almost uninterrupted outflows since 3Q08 (see Exhibit 3).

Image: Morgan Stanley: Paolo Batori

So if oil investment spending isn't the problem, what it?
Basically, bad economic polices:

There is an alternative explanation for why Venezuela appears to be short of hard currency cash: policy heterodoxy has hurt domestic supply, forcing an increase in imports as a substitute. Policy heterodoxy – especially the expropriations, lack of property rights and rising participation of the state in the production and distribution process – have led to a structural decline in Venezuelan production capacity, forcing a greater dependence on imports to satisfy demand. In turn, Venezuela’s reliance on imports means that it must generate enough dollars to finance those imports. Indeed, we suspect that the fundamental trade-off faced by Venezuelan policy-makers appears to be between economic growth and the health of external accounts.

Sunday, January 16, 2011

FKLI:- Everybody Start Talking Of A CNY Rally ! - 1/17/2011

The market failed to move further up but just play consolidation. Raise stop to 1564.

The MACD remains positive but the Stochastic has turned negative and started falling. I will watch out for if it crosses down its 80's signal line and price goes below the upper Bollinger Band as an initial sell signal.  The ADX has turned flat which may signaling more range bounding to come.


The bull in the weekly chart is still intact as both the ADX, Stochastic and MACD continue to rise . Since the Stochastic has gone above its 80's zone, I would keep an eye for any crossing down below the 80's signal line which may be taken as an early reversal signal.

I have not been too bullish about the FKLI lately. As another new high formed recently, any hooking down by the indicators would mean a new bearish divergence formed. At this mature age of the FKLI bull cycle, I strongly suggest you should NOT get too carried away by the recent market bullish talks. History teaches us whenever the local experts go super bullish , that is usually the time you should taking profit and go take a holiday. (see KCPO  for one of those kisah benar story)
KCPO:-  Experts' Views Can Be Hazardous -1/17/2011

The market took another beating last week by losing 81 points. The correction may not be over yet as the Stochastic and MACD continue their descent. The Stochastic has crossed down its 50's signal line which may hinting for more intense selling to follow soon. The gap between the MACD and its moving average is large, this is telling us the selling is still strong. The ADX continues to fall and so is the D+ which is now below the ADX, this confirmed the end of the prior bull moves.

The bottom Bollinger Band of 3,600 will now provide the next strong support. If that fails to hold, then it is almost guarantee many buyers will start to get panic and start their liquidations of long positions. Meanwhile place stop at 3730.


Though the weekly chart has not flashed any sell signal, it has definitely weakened. The MACD is still positive but has begun to turn down its head. The Stochastic is negative and started falling toward its 80's signal line. I would monitor closely to see when if it will cross down. I also take note there is a series of bearish divergences formed at the Stochastic relative to the higher prices. I would not pay much attention to this kind of formation if it is found at the daily chart as the Stochastic is a sensitive indicator which may flash many signals too early. But if they are found at the weekly chart or monthly chart, I would place some importance to them. If this is played out accordingly , then I would expect the corrections to be more severe than that in the daily chart.

I would also keep an eye for a possible closing of below the upper Bollinger Band of 3590 as an initial sell signal.

As mentioned earlier, I often start to sit up and pay attention to any market when there is many "experts" start to get too overly bullish or bearish. But I would always start to look for evidence to point at the opposite direction. In the case of KCPO , when there were so many calls to buy and buy more  KCPO and palm oil counters, I more or less kind of expect the current correction will come soon. And I am making good money by betting on the opposite.

Friday, January 14, 2011

American Rock & Roll Entrepreneur

"My ultimate legacy would be if I could keep people from going home and telling their families they're unemployed,"


"Rock star" executive Lynn Tilton rescues companies — and saves jobs

Los Angeles Times

The male-dominated industry has never seen anyone quite like Tilton, a New York financier who since 2000 quietly has been amassing an empire, acquiring or investing in more than 70 companies, with holdings totaling $8 billion.
"She doesn't fit the usual pattern of an executive," said Richard Aboulafia, an aerospace analyst for Teal Group. "but she has stayed in this game a lot longer than people thought."

Part Warren Buffett and part Dolly Parton, the 49-year-old native of the Bronx borough of New York owns or has an equity stake in companies that are as eclectic as her wardrobe — and include brand names such as Arizona Ice Tea, English Leather cologne and Isotoner gloves.
Through her private-equity firm Patriarch Partners she also owns companies with some of the world's most iconic names, including mapmaker Rand McNally, firetruck manufacturer American LaFrance and Italian factory-machine maker Ansaldo Sistemi Industriali.

In 2005, Tilton acquired Mesa, Ariz.-based MD Helicopters, a company founded by Howard Hughes.

Common trait

Although diverse, the companies had a common trait before Tilton began investing in them. They produced well-known products but were about to go out of business.
"We turn dust to diamonds," she said at the Anaheim Convention Center. "We buy what everybody else tosses away."

Although some of her companies have had to lay off people because of the economy, they employ a total of 60,000 workers in the U.S. The return on her investments has averaged 25 percent annually, she said.
"Making money and making the world a better place don't have to be mutually exclusive objectives," she said.

Within the aviation industry, Tilton often has been described as the "dominatrix lady" because of her penchant for black-leather dresses and high-heel shoes.
"Well-behaved women seldom make history," she said when asked about the initial impression some people might have. She has a bachelor's degree from Yale and an MBA from Columbia.

She acknowledged that she has used the image to her advantage because many people upon first meeting her underestimate her abilities.
Before she began signing autographs, Tilton already was shaking up the helicopter convention. As four executives of the world's largest helicopter makers, including Bell Helicopter Textron and Sikorsky Aircraft, finished up their presentations, Tilton, who was running late, walked up to the podium wearing that leopard-print dress. "I don't have pretty slides," she said. "But I'm wearing a sexy dress. I hope this will do for some of you."

Then, taking a more serious tone, Tilton said that the industry was "not a chosen one that defies gravity" and warned the audience that more improvements were needed, including making helicopters safer.
Tilton, who has three siblings, said she grew up in a dynamic family. Her father was a professor, and her mother later became publisher of a newspaper in Teaneck, N.J.

Single parent

At 23, Tilton became a single parent, and for the next several years she "worked 100 hours a week on Wall Street" to support herself and her daughter. "Compared to then, this is nothing," she said of her workload juggling more than 70 companies.
Tilton worked at top Wall Street companies including Morgan Stanley, Goldman Sachs and Merrill Lynch before becoming an expert on distressed loans. She later would obtain a patent for a method of turning around bad bank loans.
Tilton had enough money to retire comfortably at age 40 but decided to form her own company to "give back to the world."

Her most challenging and endearing acquisition has been the helicopter company, one of the few that she personally has overseen and managed, Tilton said.
Because of parts problems, the company stopped producing helicopters in 2005, putting more than 250 jobs in jeopardy just before Tilton acquired an equity stake.
After going through three chief executives in one year, she personally took charge, handling the company's reorganization while acquiring faltering businesses.
At the same time, she began to be the "face of the company" as she led the sales force and was able to regain the attention of its customers.

"She's turned things around at MD, and I think that's helped her gain some respect," said Matthew Arnold, chief executive of Alabama's Marshall County Economic Development Council, which has worked with Tilton on aviation matters.
The company expects to deliver 70 new helicopters this year, up from 52 last year.
"My ultimate legacy would be if I could keep people from going home and telling their families they're unemployed," Tilton said.

展示歼20 为何忸忸怩怩

All about China's  technology quantum leap from Russia's imitation MIG25 (J-10) to MIG50's(J-20) or looking at the whole issue from the point where a country cannot even make its own auto engines but is able to make super jet engines. By the way, how come we did not get to get a earful what they did with their last moonshoot ?

中共自我“解密”隐形战机歼20的过程犹如一出闹剧。明明是官方要拿出来显摆,却要假借 民间来炒作,弄得忸忸怩怩,犹抱琵琶半遮面。

去年12月底,国内互联网上开始传出歼20的照片。1月11日网上出现歼20进行飞行测试的视频。从跟拍运动物体能保持构图的严谨这点 看,视频应出自专业摄影人员之手。一般人根本无法接 近机场,能拍到这些照片和视频又能 不被封杀而在网上广为流传,且能不被以“泄露国家机密”治罪,非中共官方(而且是高层)操作莫属 也。

更有意思的是,官方媒体只是转述民间网站的消息和图像,好像自己不便直接宣传。同时分明 试飞时间是精心谋划好的,胡锦涛却佯作不知 (or is it CCP losing control over their military?),要等来访的美国防部长盖茨来问才加以“证实”。中共一反故往的或先讳莫如深,或大吹大 擂,搞的遮遮掩掩、欲言又止,显露背后有重大隐情。

首先,中共号称“崛起”,但在美韩日军演面前相形见绌。中共若不拿出“新式武器 ”,不足于忽悠百姓;而一本正经拿出歼20,又担心歼20问题太多,甚至可能在试飞中掉下来。这种矛盾心理是造成中共忸忸怩怩的根本原因。

中共由于死硬支持朝鲜,引起国际公愤,而且引发美韩日频繁军演,造成美中关系剑拔弩张。美国3艘航母进入西太平洋呈预备作战态势,15架 F22战机将部署日本冲绳,多艘攻击型核潜艇随时出动,同时在关岛的B52、B1、B2三种战略轰炸机随时进行纵深作业。

对此,中共却拿不出一件像样的武器来对应。中共的航母仍在建造之中,目前根本不能下水展示。所谓的“航母杀手”DF21导弹缺乏超视距雷 达、预警机和卫星配合定位,命中率只有50%,美国根本没当回事。由于军力相差悬殊,当美航母进入黄海时,中共先是气势汹汹,后不得不悄悄认输,在国内外 颜面尽失。

情急之下,中共顾不得歼20的诸多缺陷,先拿出这唯一的“新式武器”来唬人。歼20机身设计并不新颖,外表除了双发动机外倒像美国F-35战 机。有专家认为,歼20只是中国标准的第四代战机,并不是国际标准的第四代战机和俄罗斯代号的第五代战机。其在隐形、发动机、矢量推动、航电 系统等方面的功能均达不到美F22、F35及俄T -50的水平。从全动式垂直尾翼、切面全动式三角翼、边条的设计看,其着重点在提高机动性,但是否达到了美俄同类战机的水平尚待证明。况且歼20仅作了首 飞,距离定型和形成战斗力还需要经过数百次试飞。难怪美国国防部发言人对中国的新战机表示“不足为虑。”美国驻太平洋区空军司令诺思则不无幽 默地说:“我觉得最大的恭维无非是说他们抄袭了我们多少。”

实际上,歼20的最大问题在发动机。第四代战机发动机的推力至少要达到17吨,同时要有 矢量推进的技术,而歼20目前不具这样的水准。歼20体积大,原型机加力燃烧室加力后推力约16.5吨。专为歼20配备的WS-15 型发动机仍在研制中,现使用的俄制发动机最大推力为14.5吨。从采用俄制发动机的现役歼10的实际运行看,因发动机隐患,歼10事 故频频。09年歼10曾出现发动机停车,飞机失去动力。09年筹备60“大典” 期间,3架歼10同时坠毁。接着去年4月22日又一架歼10因发动机故障在湖南道县爆炸坠落。

目前中共的歼10等新款机种,包括歼20验证机,用的都是俄制发动机。歼10的发动机隐患会不会出现在歼20身上,以导致飞机在试飞中坠落, 这才是中共最担心的问题。因此歼20试飞时安排了两架编号相同的原型机,用发动机上的不同颜色和机身小方形黄色标记区分。总制造方(中航工业 成都飞机工业集团)给加工方(北航)的通信也验证了有2架歼20原型机的存在。中共的目的就是为了在一架出事掉下来时,另一架能顶替冒充,保 证视频中显示试飞“成功”。这与中共在奥运会及所有重大活动中的造假手法如出一辙。


其次,中共让歼20飞得忸忸怩怩的直接原因,是既要盖茨向展示“实力”,又要让胡锦涛不显得冒犯美国。在盖茨面前炫耀“实力”,能增加胡访美 时的心理筹码;而在美国人那里制造胡与军方有矛盾的印象,又能为胡解脱。

其实,虽然中共军方在黄海军演中吃了哑巴亏有恶气要出,却不敢在胡访美时出,提前在美国防部长盖茨访华时出掉,正说明军方还不敢在重大问题上 替胡添堵。胡与军方有矛盾,但未到失控程度。从某种意义上说,胡访美是否成功不仅关系到派系利益,更关系到党的整体形象。中共各派在维护中共 政权统治这点上是一致的。

再次,中共把正在初级试验阶段的“能飞不能战”的歼20弄得煞有其事,也是为了配合打破西方国家的武器和科技禁运。试想一下,如果美国和欧洲 在中共蛊惑下,相信中共的武器制造技术已经快赶上他们的科技水平了,那么美欧就会认为没必要对中共禁运了,进而中共就会得到西方各国的武器装 备和技术。

中共的本质就是暴力加谎言,其一贯做法就是:让别人看得到的都是假的,真的东西不会让别人看得到。在歼20“解密”中,中共玩的正是这套欲擒 故纵的手法。

最后,中共这种间接公开“军事实力”的方式也有其它目的。如回应美国对中共军费开支不透明的指责(其实是故意曲解美方意思)。又如回击印度向 俄国购买300架隐形战机及印度与俄国共同研制新一代隐形飞机。当然,最重要的是迷惑和恐吓美国和台湾,阻止美国对台军售。  

中共隐形战机的研制面临巨大资金耗费和重重技术困难,而且在这过程中,西方又会发展出更先进的机种。所以歼20只是场浪费中国人民血汗钱的政 治游戏,其可能的作用就是成为中共宣传大国崛起的摆设和检阅红朝的阅兵道具。

Thursday, January 13, 2011

中國 真的很令人「不放心」 ?

2008年9月28日,央視向全世界播放的有關中國航天飛船「神舟七號」宇航員翟志剛出倉 實施太空行走的直播畫面,被指是來自事前拍攝的一段水中模擬錄像。圖為神七直播錄中不時有小物體上浮,表明在水中。(視頻截 圖)

明年二月,一個由歐、美、亞十六個國家參與研製的最大載人太空站將基本建置完成。整個過程中,身為第三個登陸月球的航天大國中國,卻自始至終未獲邀請參與──因為中國 真的很令人「不放 心」。

到今年11月為止,人類在太空已居住了十週年,這要歸功於國際太空站的建立。美國航空航天局(NASA)局長查爾斯.博爾登11月初讚揚 了六位在國際太空 站上生活的宇航員。他說:「我們從未夢想過我們會取得今天的成就。」不過,中國一直未能參加國際太空站的建置,而中國是繼美國和俄羅斯之 後第三個登上月球 的航天大國,卻為何被排除在外?


12月8日,美國私營企業太空探索技術公司(SpaceX)的「龍」(Dragon)航天器發射升空,進入低地球軌道後返回,成為首個完 成此行動的私營企 業航天器。由於奧巴馬政府放棄重返月球而轉為探測火星,在美國航天飛機除役進入倒數計時之際,此舉被認為是未來商業太空飛行的一項極其重 要的試驗。

國際太空站(International Space Station,ISS)是以美 國、俄羅斯為首,加拿大、日本、巴西和歐空局(法國、德國、意大利、英國、比利時、丹麥、荷蘭、挪威、西班牙、瑞典、瑞士) 共十六個國家參與研製,是迄今為止最大的載人太空站。

美國是國際太空站工程中的「老大」,其投資占整個工程費用的60%以上;俄羅斯研製太空站第一部件「曙光號」功能貨艙;歐洲主要貢獻是 「哥倫布號」實驗艙和自動轉移飛行器;日本的「希望號」實驗艙是該站最龐大、最複雜的艙段;太空機械臂則是加拿大的拿手好戲。

國際太空站的設想最早在1983年由美國總統裡根提出,1993年完成設計。明年2月,這個世界上投入資金最大、參與國家最多、技術水平 最高、應用範圍最 廣的「國際太空站」將基本建成。其設計壽命為十至十五年,總質量約423噸、長108米、寬(含翼展)88米,運行軌道高度為397千 米。

自2000年11月2日起,國際太空站上保持至少兩名乘員。來自15個國家將近200人造訪過這個太空站。它在圍繞地球的軌道上已運行了 24億公里,宇航員們進行了600次以上的試驗。


不過,中國未加入「國際太空站」。在國際太空站籌建之初,美國就反對邀請中國參與。輿論分析,這是因為美國認為太空站技術有軍事用途,涉 及到很多敏感的新技術,所以不放心中共加入。

去年美國總統奧巴馬來華訪問期間,中美兩國簽署聯合聲明,提出中美在載人航天方面進行技術交流,具體方面由美國航空航天局長博爾登訪華來 加以落實。但博爾登近期對中國進行了為期六天的訪問,參觀了一系列航天設施,卻沒有簽署任何協議。


中國媒體報導,如果中國參與,更多的是作為出錢方,技術上參與受到很大限制,沒有主導權和決定權,所以中國對此不感興趣。而且,國際太空 站的入門費很高,至少需要投入上億美元才能有機會參與,而中國的航天經費有限。


但在2007年10月,中國科技部副部長李學勇曾明確表示,中國期望與美國開展在航天領域的合作,成為國際太空站計劃第十七位合作夥伴, 可是沒有得到美國官方的正式回應。

去年六月,白宮科技政策辦公室一位負責人稱,現在談論中國加入「國際太空站」計劃還為時過早。他說:「這顯然是個非常複雜的問題」,眼下 還沒有讓中國加入的計劃,此事「還需同其他國際夥伴進行磋商」。

為何不讓中國加入?IT商業新聞網日前報導,美國人解釋說,中國在過去幾十年間向朝鮮和伊朗提供了導彈技術,因此不可以讓中國接觸到美國 的航空航天技術,否則將很難預測這些技術會流向哪個國家。特別是中國航天研發與軍方有著緊密聯繫,包裹著一層神秘的面紗。


在2007年1月11日,美國發現中共成功試驗了一枚攻擊衛星武器,之後美國國家安全委員會證實了有關報導。中共多日後才承認,中國 的這顆遠程地空導彈,摧毀了一顆1999年中國發射的 「風雲1C」氣象衛星。

這一爆炸性新聞震驚世界,美國、英國、澳大利亞、日本、韓國等國當時都向中方提出抗議,要求解釋,批評中共違反了「人類和平利用太 空」的原則。

分析指出,這是在直接挑釁國際社會,嚴重程度大大超過朝鮮的核試爆和伊朗的核計劃。在摧毀試驗之前,中共也沒有知會其他國家,早在 1967年,「全球外太空條約」就規定了各國太空行為通報制度。

當時,被擊毀的衛星碎片飄蕩在宇宙空間,延伸400至3000公里的範圍,嚴重污染太空,並對該範圍內正在運行的超過120個衛星造 成撞擊威脅,令各國緊張。


目前,中共政權聲稱在獨立進行太空站計劃。這項聲稱隨即遭到質疑。許多人認為太空站計劃耗資巨大,壽命僅十五至二十年,有必要自建太空站 嗎?也有許多人認為現今中國人均GDP遠遠落後於西方國家,應該把有限的資金放在與民生相關的緊要項目上
The Ball Crusher !

Last year, private-equity chief Lynn Tilton flew to Detroit to try to improve sales at one of her auto-parts companies. She got a cool reception from Ford Motor Co.'s purchasing chief, Tony Brown, who asked if she was like other private-equity chiefs that "strip and flip" their companies.
"You must be mistaken," she shot back. "It's only men that I strip and flip. My companies I hold long and close to my heart."
With her platinum blond hair, tight leather skirts and penchant for racy remarks, Ms. Tilton has a talent for getting people's attention. Yet behind the glam facade is a sophisticated distressed-debt investor and manufacturing tycoon who has quickly become one of the richest self-made women in America.
Through her New York-based holding company, Patriarch Partners, Ms. Tilton owns all or parts of 74 companies with revenues of more than $8 billion and 120,000 employees. By most measures, Patriarch is now the largest woman-owned business in America.
Ms. Tilton, 52 years old, built her fortune from an unlikely corner of the economy: down-and-out industrial firms. Her strategy is to buy manufacturers headed for the scrap heap and bring them back to life with new management teams and products. In the process, she has become an unlikely crusader for America's rust-belt.
"The key to America's future is manufacturing," she says. "We simply have to become a country that can make things again."
She has revived a defunct paper mill in Maine by turning it into a maker of alternative fuels. She took a money-losing helicopter maker founded by Howard Hughes and made it profitable through exports and sales to U.S. rescue workers and the military. During the depths of the auto-maker crisis, she bought up auto-parts companies that now have more than $1.7 billion in sales.
Ms. Tilton also has had her share of mistakes. After buying American LaFrance, the firetruck maker, she drove down revenue by more than 50% in an effort to improve profits. Four years later, she still is trying to turn the company around.
"That was a purchase I made more with my heart than my head," she says.
Ms. Tilton has the added distraction of her personality. Her office uniform usually includes five-inch stilettos, an eight-carat diamond necklace and the occasional black leather jumpsuit. Her office walls are filled with whips and handcuffs sent to her by friends, Hashemite daggers given to her by Middle Eastern royals, New Age paintings and a portrait of her stretched across the hood of a black Mercedes.
 Ms. Tilton makes no apologies for her unconventional look.
"I am all woman," she says. "Sometimes it makes men uncomfortable, sure. But in business and in life, I have to remain faithful to my inner truth. In the end, I'd hope people judge me on my accomplishments and intelligence."
Ms. Tilton started on Wall Street as a single mother, working 15-hour days and putting herself through Columbia's business school. She had graduated from Yale as a nationally ranked college tennis player and aspiring poet, and married her college sweetheart. Soon after starting work on Wall Street, she got divorced and plunged into her work.
She rose through the ranks of Morgan Stanley, Merrill Lynch, Goldman Sachs, Kidder Peabody and Amroc. She had a talent for quickly dissecting balance sheets and distilling complex financial information into simple forms. She won a rare patent for a portfolio-construction model that continues to serve as the foundation for Patriarch.
In 2000, she founded Patriarch, named after her late father. Her plan was to trade debt with her own money. Yet after buying two giant portfolios of distressed debt, she realized the only way to succeed was to take control of the companies in the portfolio. Suddenly, Ms. Tilton had gone from a debt investor to the accidental chief executive of dozens of failed companies. Her turnarounds were so profitable that she went on to buy more companies
She commutes most mornings by helicopter from her New Jersey home to Manhattan, and she owns homes in Florida, Arizona, Hawaii, and a Italian villa on Lake Como, just up the mountain from George Clooney. Ms. Tilton remains close to her 28-year-old daughter, who is one of her deputies. She sleeps only a few hours a night and sips a homemade concoction of clay, salt and chlorophyll. She often stays up late reading science fiction.
Walking down the manufacturing line at her MD Helicopter plant in Arizona on a recent afternoon, Ms. Tilton looked out of place in her shimmering dress and heels. Yet she quickly bonded with workers with her earthy jokes and detailed knowledge of metal alloys.
"Workers really take to Lynn," said Duane Lugdon, a United Steelworkers union staffer who led tense negotiations with Ms. Tilton at the Maine paper plant. "She's just human and honest with people. I don't say that about many CEOs."
Her personal involvement in each company—she is still CEO of MD—can cause friction, former employees say. They say employee churn at Patriarch is high in part because of Ms. Tilton's tough personality.
"I'm a benevolent dictator," Ms. Tilton says. "I like to control things. What we do, the distressed area, is not for the faint of heart."
Her real mission, however, is pushing the U.S. to adopt a more coordinated government policy that better supports the country's manufacturers. She is doing her own part by preserving jobs at her own firms as best she can, she says. Yet she also is pressing Washington to better enforce antidumping rules and to require companies that sell in the U.S. to manufacture in the U.S. (no need to ask Ah Kwai, she is definitely very anti-China)

"World Comes Together to Save the Euro"; Japan Officially Joins the Battle

At long last, and after decades of trying, Japan may have found a way to weaken its currency: buy European bonds. The irony is that is not Japan's intent. The non-plan to weaken the Yen could conceivably "work" if done in size, although I rather doubt Japan commits that much. Regardless, it sure won't do a damn thing to "Save the Euro".

Please consider Japan Joins China in Assisting Debt-Crisis-Hit Europe

    Japan plans to buy bonds issued by Europe’s financial-aid funds, its finance minister said, joining China in assisting the region as it battles against a debt crisis that prompted bailouts of Ireland and Greece.

    “There is a plan for the euro zone to jointly issue a large amount of bonds late this month to raise funds to assist Ireland,” Finance Minister Yoshihiko Noda said at a news conference in Tokyo today. “It’s appropriate for Japan to make a contribution as a leading nation to increase trust in the deal. We want to buy more than 20 percent.”

    The euro gained against the yen as the statements of support showed that the country with the world’s second-largest foreign-exchange reserves, after China, may help stem the risk of the crisis spreading. Portugal’s borrowing costs jumped last week as concern deepened that nation may be unable to avoid tapping the European Union’s rescue fund.

    “This signals that the world is coming together” to save Europe, said Noriaki Matsuoka (one of the "experts") , an economist at Daiwa Asset Management Co. in Tokyo. “But it’s unlikely the euro will maintain its current strength. It’s unclear whether the market will be able absorb all the bonds being issued by the problematic euro-zone nations.”

    Japan will use its foreign-exchange reserves to buy more than a fifth of bonds to be issued later in January by the European Financial Stability Facility, Noda said. Japan’s reserves total $1.096 trillion, the government said today. That compared with China’s $2.648 trillion, according to data compiled by Bloomberg.

    “I think we cannot rule out the possibility that the Japanese government” may need to shift part of its reserves to euros from U.S. dollars to buy the bonds, Tohru Sasaki, head of Japan rates and foreign exchange research at JPMorgan Chase & Co. in Tokyo, said in a note to clients today.

    “Japan’s finally contributing to the stabilization of the global financial system,” said Hiroshi Miyazaki, chief economist at Shinkin Asset Management Co. in Tokyo. “This is good news for the euro and it’s good news for the global financial system. Since Japan has a current-account surplus, in some ways it has a responsibility to help those with a capital shortage.”

A "Come Together" Tribute