Monday, September 29, 2014

香港局势:习近平可能在想的十件事

香港街头气氛紧张。在北京的中国领导人对这番景象有何想法呢?

1“这是我自找的”

今天的局面,是中国上个月宣布香港特首选举没有公民提名不可避免的后果,但也是对北京直接的政治挑战,因此成为对中国一国两制承诺的决定性考验。

2 “我必须赢”

执政两年以来,习近平集结起无人可比的个人权力,他明确表示,必须由他作出一切重大决定。习近平反腐给他在国内树立起强大的敌人,他们正在等着习近平出错一招。所以,香港的事影响不仅仅是香港。示威者要求北京收回既定的普选规定,但是,习近平不愿意让步、也让不起步。

3“学生又成了我们的阿喀琉斯之踵”

那 些领导“占中”的中年知识分子,北京很容易预见、预防,真正的威胁是上周一开始罢课的大学生。中国在香港选举改革方面立场之坚定,给了反对派运动一个明确 的目标。到了周末,尽管有辣椒粉喷雾、尽管领袖被抓,学生仍在继续发声。到了这个时刻,占中运动上了年纪的领导人也只能带上口罩、眼镜,拿着饼干去上阵。

4 “尾巴岂能摇动龙”

在大陆,政治性鲜明的示威立刻就会被冲散,但是香港不同。不过,颜色革命是北京最坏的噩梦。理想主义的中国年轻人举着标语牌、头上扎着黄布条。这番景色让中国政府进退两难。
给香港警察施压、要求他们手腕更强,危险是可能激发更多市民上街支持学生;低调处理,危险是更小心的民主派可能也会更大胆。

5 给我赢得香港民心、民意的钥匙

北京将把示威者描写成头脑发热、危险的一群人、会破坏香港经济,希望以此说服香港市民呆在家里。但是,如果北京希望赢得香港的民心、民意,必须保持镇定,让警察“轻手”治安,让示威任其自然发展。这一点中国感觉很难。

6 香港警察到底有多少牢房?

据 我所知大约是500。不过,习近平比我心里更有数。示威未经批准,因此是非法的。香港警察可以尝试把所有的人抓起来。但是一旦牢房满了,就没有别的地方可 关人了。所以,这场示威有一个分界点,低于这个点,辣椒粉、威胁坐牢可能会让示威者回家;但是高于这个点,人多势众,再加上新人加盟,示威者的决心可能更 坚定。

7 “你怎么敢把邓小平摔在我脸上?”

香港民主派 指出,邓小平提出一国两制,保证香港生活方式50年不变。他们说,邓小平相信,到了那一天,中国也更自由了,理想鸿沟缩小了。如果他真是那么想的,他可真 是错了。习近平的中国正在朝着另一个方向前进,朝着更严格的一党控制前进。如果邓小平泉下有知,我不敢肯定,他会给示威者加油。

8 “让我们来指责外国人”

过 去几个星期,中国的代表们多次指责,香港民主派受了那些希望破坏香港稳定和繁荣、用香港作为颠覆大陆桥头堡的外国人的煽动。近两天,亲北京的报纸宣称,学 生领袖黄之锋和美国政府有关系。但是,美国和英国政府一直不愿意插手表态。再说了,很难看出颠覆中国政府符合他们的利益。北京面临的真正问题是外国思想、 而不是外国政府。

9 “我能有今天靠的可不是让步。现在我也不会开始。”

据说,习近平谈到苏联1991年解体时说过“没人有胆儿站出来”。执政两年,越来越明显,习近平把自己看作大家长,他认为,强大的领导人才是解决中国问题的关键。香港,听着点。

10 这个生日不好过

新中国成立65年,习近平领导的是一个不同的政党、不同的国家。(中国更)富有、强大,没错。但是,65岁生日之际,除了排外的民族主义,中国没有统一的信号。习近平迫切需要以能够激励国人的方式定义他的“中国梦”,不管是大陆人还是香港人。
「身在曹營心在漢」


位於金鐘「佔領區」的海富中心早上有升旗,集會人士紛紛報上噓聲,但當集會人士發現五星旗倒掛後,隨即 送上掌聲,讚揚職員「身在曹營心在漢」。

梁振英仆街冚家剷 


警方以武力驅散集會人士藝人杜汶澤於facebook專頁發文,指行政長官梁振英需要為今日負上沉重代價。杜汶澤發文近3小時後,梁振英女兒梁齊昕亦於 facebook發文指杜汶澤「鍾意乜嘢都借機搏上位」,更反問杜汶澤是否處於事業低潮,惹來網民強烈批評,反指梁齊昕「借杜汶澤搏上位」、「你老豆就低 潮,連學生都唔敢見」。
FCPO - It Is Getting More Bullish - 9/29/2014



My previous long position was closed on last Monday as price went below the prior day low. But price did not go further down but instead it went upward again for the next 3 days. Last Friday saw price stalling again. I bought in again on last Tuesday when price went above the prior day high and I have maintained my stop at below prior day low. As price has now closed above its recent fractal high of 2173, the market is getting more bullish.
The MACD continues to go upward and it is now above the zero signal line. This is an important development as this means the market may be going back into a bullish cycle. The Stochastic remains positive but inside the overbought zone, so caution is warranted. The DMI remains positive and an important item has just happened - the ADX has stopped falling and gone flat. This may foretell a beginning of a new cycle. 



 
The weekly chart's bear has finally conceded defeat as price has closed solidly above the bottom band with the Stochastic crossing up above its 20's signal line. This is the first buy signal since March. Though the MACD is still negative but it is obviously turning around and we may see it turning positive by the coming week. The slower reacting DMI stays negative but the D- continues to fall, it is confirming the sellers have been rushing to the exit door. But the D+ is still unable to cross above its 20's signal line, so the strength of the buyers are in doubt. The most important development is the ADX, it has finally begun to fall which is always my most reliable confirmation for the end of the prior trend.
As there is no special confirmation of any major bull, I would still call the current move as a technical rebound. I would first look at 2,300 level as the first target.
FKLI - Market Still Go Nowhere But Something Is Brewing - 9/29/2014




I went back to sell again as price went below the prior day low on last Monday. So far, the trade is not going anywhere as price is still hugging below the bottom band. All the 3 indicators remain negative. The MACD looks like it is struggling to turn around. The Stochastic has now gone below the 20's signal line. The ADX continues to ascend but there does not seem to be a strong trend in the market yet. The 1832 support level has been broken down below a few times, but market always was able to close back up above that level. In order to protect my shorts position, I am placing my stop at above 1841.50.
 
Though all the 3 indicators remain negative and continue to fall,  and price remains below the bottom band. All these add more weight to the bear but the 1832 support level is still holding.  The ADX continues to stay flat at 14's, this explains the current lack of direction in the market.
As mentioned last week, the bigger picture remains bearish as ever because of the presence of bearish divergences. But the daily chart seems to hinting for something else. The daily RSI has now gone into the oversold area and the MACD has already registered a higher trough and it has been turning around. So we may see a reversal next when price can go back up above the bottom band with backing from the indicators. Maybe someone want to bring affirmations to the market after our PM had spoken to the US funds big boys.

Sunday, September 21, 2014

45 Years Ago: Marvin Gaye and Tammi Terrell Release ‘Easy’

  
Easy Marvin Gaye Tammi Terrell Motown

Rarely has an album title been less appropriate. There was nothing ‘Easy’ about the third, and final, LP of duets between Marvin Gaye and Tammi Terrell, released on September 16, 1969.

Throughout the recording sessions for the album, Terrell was in extremely poor health – the result of a cancerous brain tumor and the many surgeries she was undergoing as a result of her ailment. The young singer had suffered persistent headaches since her childhood, but it wasn’t until she collapsed on stage (into Gaye’s arms) at a show in October 1967 that doctors discovered her condition.

Following her first operation, Terrell was forced to retire from touring, but was able to record more material for Motown, including the second Gaye/Terrell album ‘You’re All I Need’ (with its accompanying hits ‘You’re All I Need to Get By’ and ‘Ain’t Nothing Like the Real Thing’) in 1968 as well as her first solo record, ‘Irresistible,’ in 1969. Sadly, the tumor continued to grow, forcing additional surgeries that limited Tammi’s ability to work in the studio.

When Motown founder Berry Gordy expected another Gaye/Terrell album for the fall of ’69, Marvin initially refused to take part. He had been growing more and more disillusioned with the business interests of Motown and Gordy (his brother-in-law at the time), and had become very protective of Terrell (the two had become close friends – platonically, by most accounts). Gaye was not interested in making music with his duet partner while she feeling so terrible.

However, Gordy convinced Gaye that the album sales would help Terrell and her family with the escalating medical bills. The singer begrudgingly set to work with the legendary writing/producing team of Nickolas Ashford and Valerie Simpson – who had worked previously with Gaye and Terrell. In two cases (‘More, More, More’ and ‘I Can’t Believe You Love Me’), Gaye was added to an already completed Terrell solo track. Otherwise, with Terrell laid up, the plan was that Gaye and Simpson would sing together on the initial versions of the tracks. Then, when Tammi was able to come to the studio, she could use Simpson’s vocal takes as a guide to record her own parts.

But there is significant controversy over if this actually happened on all of the album’s songs. In David Ritz’s biography of Gaye, ‘Divided Soul,’ Marvin was quoted that Terrell sang very little on ‘Easy’ due to her ill health and suggested that listeners were mostly hearing Simpson on the final version of the LP. Simpson disputed this claim, saying that she only sang the “guide vocals” for Tammi, who later sang her parts from a wheelchair. Let your ears be the judge: is that Simpson dueting with Gaye, or a less-than-100-percent Terrell?

Regardless, the album was released in September, containing a bunch of effervescent pop-soul that belied the strife behind the scenes. If ‘Easy’ didn’t match the artistic or commercial success of the duo’s previous albums, it still spawned four Top 50 hits in the U.S.: ‘Good Lovin’ Ain’t Easy to Come By,’ ‘What You Gave Me,’ ‘California Soul’ and ‘The Onion Song.’ That last one – which might contain one of the strangest metaphors for a world gone wrong – also turned out to be the duo’s biggest hit in the U.K., charting at No. 9. Unfortunately, Terrell and Gaye wouldn’t get the chance to top that feat. In early 1970, during her ninth operation in roughly two years, Terrell lapsed into a coma. She died weeks later on March 16. She was 24.

All Motown staff, with the exception of Gaye, were barred from Tammi’s funeral by her family, who were furious about how the label had treated the singer in what turned out to be her final years. Meanwhile, Gaye drew inward following Terrell’s death, before resurfacing with the social commentary of ‘What’s Going On.’ A significant departure from the Gaye/Terrell hits in terms of topical lyrics and serious tone, the landmark album was reportedly inspired by the turmoil Gaye experienced following the loss of his singing partner.

Listen to Marvin Gaye and Tammi Terrell’s ‘Good Lovin’ Ain’t Easy to Come By’

中國驚訝没有将装甲车开上Glasgow街头

 

苏格兰独立公投结果出炉,“反对”阵营胜出,在中国社交媒体上引起热烈反响。几天前左派网友对英国分裂前 景的幸灾乐祸,几乎完全让位于自由派网友对民主制度的盛赞。


“我知道那是不可能的。英格兰永远都不会让苏 格兰独立。它会入侵苏格兰。”

新浪微博网友“冰其琳”写道:“说句煽情的,我觉得一个国家有勇气、有自信、有魄力、 有智慧让一个地区的居民通过公投来决定是独立还是从属于自己,才称得上真正是一个伟大的国家,真正是一个民主、文明、现代的国家。”

网友“九味安神茶”说:“文明社会的国民才有如此胸怀,你们用民主的方式给世人展示了 解决民族矛盾的另一模式,没有残酷无情的流血撕杀,没有军警镇压,让少数服从了多数。恭喜苏格兰多数人抉择! 祝福英国!”

网友“曹溪门下”在评论苏格兰公投时,尽管没有提中国,但明显地是在把英国和中国相比较。
他写道:“其实无论结果如何,苏格兰公投都让世界上另一国家的人民看到,在如此危机 下,英格兰没有制定 《反分裂法》,没有将装甲车开上格拉斯哥街头,没有将苏格兰首席大臣萨蒙德打成英奸卖国贼,更没有以寻衅滋事罪将鼓吹独 立的任何一个公民投入监狱。仅凭这 些,大不列颠,你仍然是日不落帝国!”

“黎学文”也显然是话里有话:“苏格兰独立没成,英国是最大赢家,他向全世界示范了自 己的自信与文明,颠覆了古老的武力主权模式,显示了一个真正文明古国的对人权和民意的充分尊重。他用优雅的文明把那些动辄把坦 克开到街上去的流氓国家钉到了耻辱柱上。”

“华莱士的梦想”

但是,前两天对英国可能分裂幸灾乐祸的网友们也并未销声匿迹。

网民 “悠游桑”在英国大使馆的微博页面上写道:“首先,恭喜恭喜!其次,看来你们也不希望独立啊,同样,己所不欲勿施于人,也请个别人不要再拿我们台湾和西藏 问题说事儿啦~”

“大海爱看球”则认为,苏格兰公投不过是“打着 民主旗帜的一场自编自演的闹剧”
有趣的是,有些政治色彩不强的中国网友也对苏格兰未能独立感到惋惜。

很多中国人对苏格兰的了解,主要来自讲述苏格兰民族英雄威廉·华莱士事迹的电影《勇敢的心》。

网友“星沉的微博”写道:“独立失败,华莱士临死前用力喊出那句震撼人心的‘Freedom!’终究没能实现。”

“可酪陈东云”也说:“威廉华莱士梦想还是没成真。”

文明—苏格兰公投真正赢家

“我们是多么的幸运,能够和平的、平静的、通过投票解决一个至关重要的争执。”
苏格兰独立公投的结果出来了。55%的苏格兰人欢呼雀跃,他们以一个“不”字否定了脱离英国的选 择。

这也意味着,45%的苏格兰人,失去了此生看到苏格兰独立的机会。
一个在世界其它地区可能造成流血冲突甚至常年内战的民族分离、国家独立的问题,在苏格兰以公平、透明的程序有了一个结果。这就是民 主。

苏格兰独立公投是文明的展示、文明的胜利。

文明是尊重结果

苏格兰独立公投过程中展示出的文明至少有三重。首先,是尊重公投的结果。
420万苏格兰人注册投票,占了资格选民的97%,投票率达到86%,均创下了苏格兰选举的记录,在全世界自由自愿的投票中也是屈 指可数。

公决理论上说,其中一方赢得50%+1的选票就赢得公投,一票的多寡可以决定输赢。

苏格兰公投结果,虽然没有命悬一票,但接近一半的苏格兰人被否决了他们的选择。

计票彻夜进行,格拉斯哥和爱丁堡的部分酒吧也彻夜营业,让顾客边喝边等待结果。警方曾警告,酒精和激动情绪的混合是“危险的”。

但苏格兰人平静地接受了这个事实,尊重投票的结果。公投结果一公布,没有了敌 我阵营,只剩下“我们”因为双方的根本目标都是为了看到一个更公平、繁荣的苏格兰。

在台北观察苏格兰公投的“台独理论大师”林浊水说:“苏格兰独立公投的过程为全世界面临民族分离问题的国家和地区树立了一个典 范”。这个高帽子,苏格兰人乃至英国人受之无愧。

文明是尊重选择

公投前的竞选,特别是最后几周,双方的竞选拉票战打到了苏格兰每一个地老天荒的角落。虽然有人仍了鸡蛋、有人撕毁了对方的海报、有 人喊了“滚”。但这是极个别的个人行为。
从竞选领导人到街头组织者,双方的唇枪舌剑到了白热化,白热化的较量依然是唇枪舌剑。君子动口不动手,坚决反对对手的选择,完全尊 重对手选择的权利。

英国人口总数6410万人,苏格兰人口占了约8%。苏格兰以南英伦岛上占总人 口92%的人,无论他们怎么看苏格兰公投,只有坐壁上观的份儿。

只有16岁以上的苏格兰居民有公投的投票权。即便你是苏格兰出生,即便你祖上八代都是苏格兰人,如果你现在住在苏格兰以外,也无权 投票。

英国人接受这个游戏规则,尊重苏格兰住民的选择权利。这让我想起《金融时报》专栏作家吉迪恩•拉赫曼讲的一个故事:

“几年前,我曾徒劳地劝说一位中国外交官:如果台湾民众希望宣布独立,就 应该允许他们这样做。当时我提 出:“如果苏格兰投票决定独立,英格兰不会阻拦。
那位外交 官就像是听到了一句非常明显的谎言,怀疑地笑道:“我知道那是不可能的。英格兰永远都不会让苏 格兰独立。它会入侵苏格兰。”

理解的障碍恐怕是文明程度的差距。

45%的投票者被否决了他们的选择。但苏格兰人平静地接受了这个事实,尊重投票的结果。

“无所谓”也是文明

公投前BBC电视台与独立电视台收视率决斗的杀手锏是《舞动奇迹》和《X音素》新系列同时首播。公投领导人的电视直播辩论在苏格兰 之外没有多少观众有兴趣看或有耐心看完。
作为一个外人,让我想起杜牧的诗句,“商女不知亡国恨,隔江犹唱后庭花”。

公投前24小时,英国独立电视台委托的一项调查显示,英格兰和威尔士地区30%的人对苏格兰独不独立“无所谓”。另有14%的人认 为如果苏格兰独立出去英国会“更好”。

两拨儿人加起来,意味着苏格兰以外其余的英国人,将近一半对丢了苏格兰“无所谓”,甚至是塞翁失马。

其实,“无所谓”何尝不是一种文明,甚至是更高层次的文明呢?

国家的范围可不可以扩大、缩小、分化、重组?如果把国家当作神圣化了的图腾, 当然不能,“一寸也不能丢、一指头也碰不得”。

如果把个人的工作、生活、家庭置于图腾膜拜之上,那么日子是合着过还是分着过,要看哪个能过的更舒坦。如果把国家看作行政管理的机 制,那么如果放权、甚至分离对管理更有效,又何尝不可?这次苏格兰公投的决定性因素正是经济考量,而不是民族情绪。
世界各地面临分离主义问题的国家和地区很多,但若以涉及的人口和对世界可能产生的影响来衡量,莫过于中国大陆与台湾关系的未来。

苏格兰独立公投结束了,留给我们的思考或许才刚开始。

英国首相卡梅伦在公投结果公布后发表讲话的最后一句是:“它再次提醒我们,我们是多么的幸运,能够和平的、平静的、通过投票解决一 个至关重要的争执。”

幸运,的确。

 

FCPO - Market Overbought - 9/22/2014




The market continued to gain ground until last Friday. As I mentioned here the previous week, I would want to watch the Stochastic as it is going into the overbought zone. Last Friday Japanese Candlestick was a Falling Window. With the Stochastic already crossing down, I would raise my stop below the prior day low of 2105. I am also taking note that the D- has risen up and crossed above the 20's signal line. This is the first sign that the bear is fighting back.
Anew sell signal may come when if price goes below the top band with the Stochastic crossing below the 80's.



 
The weekly chart continues to improve for the bull. Price has now closed above the bottom band and the rising Stochastic looks like it would soon cross above the 30's level by the coming week. If that can materialize, then it would the first buy signal after 6 months of selling. The MACD stays negative but it has been trying to turn around. The DMI is also staying negative but the D- continues to fall, a sign that the sellers have been leaving. The D+ has been rising and now fast approaching the 20's signal line. This means the buyers have been getting more confident. The ADX has just turned flat which mean the prior trend has stopped, at least temporarily.
Summarily, the daily chart is getting overbought and may go into a consolidation or even a new sell mode. The weekly chart, though it is not confirmed yet, is getting increasing bullish. I would get more bullish inclined after the weekly chart gives me a confirmation. Otherwise I suspect the bear may be still lurking behind the shadow and may get to pound on the market next.
FKLI - Support Holding,  So Market Reverses Again - 9/22/2014




Acting on the previous Friday's signal, I went in and sold on last Monday. But the trade turned out to be a dud as price gaped back up and hit my stop at the bottom band. Though we have the price closed above the bottom band but we have not yet obtain any complimentary confirmation from the indicators. The faster reacting Stochastic though has hooked up but it remains negative. Both the MACD and DMI also remain negative.
The ADX has turned flat which is telling us the recent "trend" has ended, at least temporarily. With the ADX at below 19's , we may see some sideways market for a while.

The next trading plan would be : unless I get a new buy signal soon, the more immediate plan would be to sell again on below prior day low and use the signal day high plus 2 as stop. If it is a buy signal , use the bottom band minus 2 as stop.

I take note the current chart formation shows a double bottom with the MACD registering a higher trough. In another word - a smallish bullish divergence has already formed. So I would also pay attention to a new buy signal. 



 
The weekly chart's support of 1832 still hold up. The market went down to test that level and was able to bounce back up though it still closed below the bottom band. The MACD continues to fall and stays negative. The Stochastic after rising a bit and has now turned down again. The DMI stays negative with the ADX remains flat. So for the weekly chart, the emphasis is still on the sell side. 1832 is the support to pay attention to.
Both the daily and weekly chart's earlier formed bearish divergences remain intact, so the big picture remains bearish. But at present, the daily chart seems to be forming a minor bullish divergence, so maybe in the short term we may see a sizable upward move before the market collapses again. For the traders, we just obey the next signal and trade accordingly. But never forget placing the stops.

Tuesday, September 16, 2014

Barclays' Survey - Leaving Great Mother Country

47% of Chinese Billionaires Want to Leave China Within 5 Years,
 Only 6% of US Billionaires Seek to Leave US

A Barclays' survey of over 2,000 individuals with a net worth over $1.5 billion contains some pretty interesting results.

Those in China and Singapore are most likely to leave their country, while those in the US and India were most likely to stay.

Please consider Almost Half of Wealthy Chinese Want to Leave.
Nearly half of wealthy Chinese are planning to move to another country within the next five years, according to a new Barclays survey.
Singaporeans were the second-most eager to flee home, with 23% planning to relocate in five years, followed by 20% for the U.K. and 16% for Hong Kong. Indian and American rich are the least likely to move, with only 5% and 6% of respondents saying they would relocate.

The top reasons Chinese cite for moving abroad are better educational and employment opportunities for children (78%), economic security and desirable climate (73%), and better health care and social services (18%). Hong Kong is their top destination (30%), followed by Canada (23%).
I am not surprised that a large percentage of extremely wealthy Chinese hope to relocate to another country within 5 years. However, I am surprised by the reasons given.

I would have expected air and water pollution to be a one of the top reasons. Instead, education, employment opportunities, and economic security headed up the list.

For health reasons alone (air and water pollution), I could never live in China. Politics, freedom of expression, food, and the sheer number of people living in the country add to my list of reasons.


Curiously, China was the top choice of 30% of those who would leave Singapore.

 

阿里巴巴背面的党二代

揭秘阿里 巴巴 除江刘陈 还有军方太子党背景
——纽约时报揭秘阿里巴巴 军方太子党背景


“谁的阿里巴巴”。只是媒体对江志成在资本市场运作有所禁忌,不敢提及和深入追踪。除江家,刘云山家,陈云家之外,阿里巴巴与中共军方的关系 密切,公司的新任董事张连阳不但是解放军的少将,而且是开国中将、前中央军委副主席张震上将的次子。

在中国取得巨大成功的私人企业阿里巴巴,在国企占主导地位的中国是鹤立鸡群。但实际上,阿里巴巴与中共军方的关系密切,公司的新任董事张连阳 不但是解放军的少将,而且是开国中将、前中央军委副主席张震上将的次子。

纽约时报网站14日报导,阿里巴巴本周在美国的上市受到极大关注,将是美国最轰动和和最令人瞩目的一次网路公司上市活动。也因为此,阿里巴巴 公司结构也受到各方仔细检视,包括董事成员背景。

纽时报导指,张连阳离开军界后,今年4月以来,他以阿里巴巴董事的名义频繁露面,出席阿里巴巴所属企业的许多活动,如中信21CN的电子营销 与医药资料的商务应用,他的妻子陈晓颍是中信21CN的副董事长。

今年1月对中信21CN的收购,凸显出阿里巴巴与中国太子党菁英阶层的密切关系,也让太子党菁英从中获得巨大的商业利益。例如,阿里巴巴在1 月宣布以1亿7000万美元购买中信21CN后,中信21CN的股票爆增七倍,陈晓颍的个人股份资产也增加到5亿美元。

纽时指,商人攀结政治势力本非错事,世界各国皆然。在中国,商界高管与政治菁英经常是同一圈子的人,这种关系在获得执照许可或是达成交易向来 非常重要。但这种政商关系如果都没有适当公开,通常让外界对公司的运作与透明产生很大质疑。在中国,高层官员通常没有公开财产,政治菁英因为 买卖股票或是并购而赚大钱。

报导指目前没有任何证据显示,阿里巴巴对中信21CN并购桉的背后人脉关系知情。阿里巴巴早先宣布,收购中信21CN完全是商业行为,宗旨是 在医药和健保领域设立技术标准,因为中信21CN拥有庞大的医药产品资料库,阿里巴巴的收购完全是按市场规律办事,没有任何政治因素。

许多投资公司认为阿里巴巴与官二代和官三代有联系,认为他们拥有公司的股票,但阿里巴巴试图撇清传言,公司今年7月声明说﹕「外界认为我们公 司的背景广泛深厚,但实际上根本没有。过去和现在都没有任何背景,今后也不会有。」世界日报

事实上,过去几年阿里巴巴一直为上市铺路。去年九月,阿里巴巴完成对雅虎七十六亿美元的股份回购,以六十三亿美元及价值八亿美元的阿里集团优 先股,回购雅虎持有的阿里集团股份的百分之五十。透过回购,阿里集团还引进了“国家队”投资者。参与雅虎股权回购有两家国家级企业:中国投资 有限公司和国开金融有限责任公司。“中投”直属国务院,资金来自国家外汇储备,是目前全球最大主权财富基金;“国开金融”是国家开发银行旗 下、负责股权投资的子公司。国发银行的董事长及党委书记陈元,是邓小平时代二号人物陈云之子。

参与回购的还有中信资本和在二零一零年在香港成立的博裕资本。中信资本的母公司是红色资本家荣毅仁创办的老牌中资中信集团,曾任集团董事长十 一年的王军是中共开国元老王震的次子。负责集团旗下基金操作的中信产业投资基金管理有限公司董事长兼首席执行官,则是中共中央政治局常委刘云 山之子刘乐飞。

\江泽民的嫡孙 江志成



2009年6月4日,江志成在哈佛大学参加毕业典礼

年轻的博裕资本是个在香港注册的私募基金,来头更大,五个合伙人中包括中国前国家主席江泽民的嫡孙江志成。小江是江泽民长子江绵恒的儿子,小 名“毛头”,洋名Alvin,毕业于哈佛大学经济系,曾任职高盛,年仅二十七岁。他为人低调,但是不寻常的背景令他和博裕投资进入了国际媒体 的关注视野。江绵恒曾任中科院副院长,业务遍及上海关键的经济领域。

博裕另三位重要合伙人包括曾任德太投资(TPG Capital)亚洲董事总经理、联想集团执行董事马雪征;曾任中国平安保险股份有限公司总经理的张子欣和前Providence Equity Partners合伙人童小幪等。

博裕登场,声势不凡,首期私募投资基金集资十亿美元,投资者包括新加坡主权基金澹马锡(Temasek)和香港的李嘉诚基金会。今年内将推出 第二期,计划筹集十五亿美元。顺带一提,博裕的重点投资,还有中国信达资产管理股份有限公司。亚洲周刊在早前关于美国中央情报局前雇员斯诺登 的报道中称,信达“是连结凯雷集团(Carlyle Group)与中资机构及背后的中国高官子女的商业节点”,它是二零一零年经中国国务院批准,由财政部发起的非银行金融机构。二零一二年,信达引入四家战 略投资者,其一便是参与此次阿里巴巴融资的中信资本。凯雷集团是斯诺登的东家博思艾伦(Booz Allen Hamilton)的母公司,与美国情报产业关系密切。

两家“国字头”企业加上两个与红色后代关系深厚的公司,占阿里巴巴集团的股权只不过是百分之五点六,但这组合已为中国媒体带来巨大悬念,纷纷 猜测马云的盘算。这包括《第一财经》“国家队入围阿里,回购资本盛宴背后”,《创业家》“马云的阴谋与阳谋”和《二十一世纪经济报道》“谁的 阿里巴巴”。只是中国媒体对江志成在资本市场运作有所禁忌,不敢提及和深入追踪

 

 

Joe Sample, Crusaders Pianist Who Went Electric, Dies at 75




Joe Sample at the Montreux Jazz Festival in 2011. His last solo album, “Children of the Sun,” is to be released this fall. Credit Jean-Christophe Bott/Agence France-Presse — Getty Images"His keyboard work can be heard are Marvin Gaye’s “What’s Going On,”
Joe Sample, who became a jazz star in the 1960s as the pianist with the Jazz Crusaders and an even bigger star a decade later when he began playing electric keyboards and the group simplified its name to the Crusaders, died on Friday in Houston. He was 75.
The cause was mesothelioma, said his manager, Patrick Rains.
The Jazz Crusaders, who played the muscular, bluesy variation on bebop known as hard bop, had their roots in Houston, where Mr. Sample, the tenor saxophonist Wilton Felder and the drummer Nesbert Hooper (better known by the self-explanatory first name Stix) began performing together as the Swingsters while in high school.
Mr. Sample met the trombonist Wayne Henderson at Texas Southern University and added him, the bassist Henry Wilson and the flutist Hubert Laws — who would soon achieve considerable fame on his own — to the group, which changed its name to the Modern Jazz Sextet.
The band worked in the Houston area for several years but did not have much success until Mr. Sample, Mr. Felder, Mr. Hooper and Mr. Henderson moved to Los Angeles and changed their name to the Jazz Crusaders, a reference to the drummer Art Blakey’s seminal hard-bop ensemble, the Jazz Messengers. Their first album, “Freedom Sound,” released on the Pacific Jazz label in 1961, sold well, and they recorded prolifically for the rest of the decade, with all four members contributing compositions, while performing to enthusiastic audiences and critical praise.
In the early 1970s, as the audience for jazz declined, the band underwent yet another name change, this one signifying a change in musical direction. Augmenting their sound with electric guitar and electric bass, with Mr. Sample playing mostly electric keyboards, the Jazz Crusaders became the Crusaders. Their first album under that name, “Crusaders 1,” featuring four compositions by Mr. Sample, was released on the Blue Thumb label in 1972.
With a funkier sound, a new emphasis on danceable rhythms and the addition of pop songs by the Beatles and others to their repertoire, the Crusaders displeased many critics but greatly expanded their audience.
For Mr. Sample, plugging in was not a big step. He had been fascinated by the electric piano since he saw Ray Charles playing one on television in the mid-1950s, and he had owned one since 1963. Nor did he have any problem crossing musical boundaries: Growing up in Houston he had listened to and enjoyed all kinds of music, including blues and country.
“Unfortunately, in this country, there’s a lot of prejudice against the various forms of music,” Mr. Sample told The Los Angeles Times in 1985. “The jazz people hate the blues, the blues people hate rock, and the rock people hate jazz. But how can anyone hate music? We tend to not hate any form of music, so we blend it all together. And consequently, we’re always finding ourselves in big trouble with everybody.”
They didn’t find themselves in much trouble with the record-buying public. The Crusaders had numerous hit albums and one Top 40 single, “Street Life,” which reached No. 36 on the Billboard pop chart in 1979. Mr. Sample wrote the music and Will Jennings wrote the lyrics, which were sung by Randy Crawford.
By the time “Street Life” was recorded, Mr. Henderson had left the Crusaders to pursue a career as a producer. Mr. Hooper left in 1983. Mr. Sample and Mr. Felder continued to work together for a while, but by the late 1980s Mr. Sample was focusing on his solo career, which had begun with the 1969 trio album “Fancy Dance” and included mellow pop-jazz records like “Carmel” (1979).
His later albums included the unaccompanied “Soul Shadows” (2008). His last album, “Children of the Sun,” is to be released this fall.
He also maintained a busy career as a studio musician. Among the albums on which his keyboard work can be heard are Marvin Gaye’s “What’s Going On,” Joni Mitchell’s “Court and Spark” and “The Hissing of Summer Lawns,” Tina Turner’s “Private Dancer,” Steely Dan’s “Aja” and “Gaucho,” and several recordings by B. B. King.
His music has been sampled on numerous hip-hop records, most notably Tupac Shakur’s “Dear Mama.”
Joseph Leslie Sample was born on Feb. 1, 1939, in Houston, the fourth of five siblings, and began playing piano when he was 5. His survivors include his wife, Yolanda; his son, Nicklas, a jazz bassist with whom he occasionally performed; three stepsons, Jamerson III, Justin and Jordan Berry; six grandchildren; and a sister, Julia Goolsby.
Mr. Sample’s fellow Crusader Mr. Henderson died in April.
In recent years, Mr. Sample had worked with a reunited version of the Crusaders and led an ensemble called the Creole Joe Band, whose music was steeped in the lively Louisiana style known as zydeco. At his death he had been collaborating with Jonatha Brooke and Marc Mantell on a musical, “Quadroon,” which had a reading in July at the Ensemble Theater in Houston. 

DEUTSCHE BANK: Scottish Independence Would Be One Of The Greatest Blunders Ever, Leading To Years Of Misery


Excluding the hardcore pro-independence people, almost everyone seems to believe that an independent Scotland would be an economic disaster.

There are various reasons why Scotland would find itself economically disadvantaged. For one thing, it is likely it would see significant capital flight, as banks and other institutions took money out of Scotland, and brought them to the UK. There would also be a currency problem. If Scotland keeps the pound — as the YES campaign claims to want — it would no longer have control over its monetary policy, and could face a fiscal crisis. As an alternative, a Scottish currency would likely be very weak.
A new note from David Folkerts-Landau, Group Chief Economist at Deutsche Bank, argues that Scottish independence would be an all-time great blunder.

Everyone has the right to self determination and to exercise his or her democratic rights. But there are times when fundamental political decisions have negative consequences far beyond what voters and politicians could have imagined. We feel that we are the threshold of one such moment. 
A “Yes” vote for Scottish independence on Thursday would go down in history as a political and economic mistake as large as Winston Churchill’s decision in 1925 to return the pound to the Gold Standard or the failure of the Federal Reserve to provide sufficient liquidity to the US banking system, which we now know brought on the Great Depression in the US. These decisions – well-intentioned as they were – contributed to years of depression and suffering and could have been avoided had alternative decisions been taken.

The essential argument is that Scotland leaving the UK would be something akin to a Eurozone country being forced to leave during the Eurozone crisis. Just the threat of that would lead to surging interest rates, higher taxes, and lower public spending.

Folkerts-Landau argues that it would take years for an independent Scotland to rebuild what’s been built economically by the UK:

The economic and financial policy making institutions of Whitehall, as imperfect as they may be, have nevertheless created stability and certainty for private economic decision makers. Scottish consumers and investors have benefitted from the credibility of the Bank of England’s monetary policy, financial institutions and their clients have benefitted from an equally credible supervisory and regulatory regime, while foreign investors come to Scotland because they rely on a predictable investment environment. All of this comes from a united Great Britain.

A Scotland on its own would not automatically inherit these hard-wrought characteristics of a democratic market environment. Until such time as Scotland has demonstrated a tried and tested ability to govern and administer a modern economy there would be doubts. Residents in Scotland would move their assets to England-based institutions for fear of a forced conversion to a new weaker currency. Financial institutions would move under the umbrella of the Bank of England, investors would, at a minimum, require a higher return of their investments in Scotland to compensate for the increased risk.

The note concludes by touching on geopolitics, and pointing out that in the current day and age, it’s “incomprehensible” why a the choice would be made to leave one of the most powerful, wealthiest countries in the world.
FCPO -  Take Caution On Current Technical Rebound - 9/15/2014


Displaying OD FCPO D.pngThe market continues to rise and now price has closed above the top band which is adding more strength to the buyers. The MACD continues to rise but it is still relatively "far" from its zero signal line, so you should not get too excited on the current retracement. The Stochastic is still rising and it will be entering into the overbought zone soon. So I would be paying a close attention to this. Though the DMI stays negative but the gap is closing up fast. So we may see it turning positive by the coming week. The D+ has just crossed above its 20's signal line, this is a positive sign for the bull. The ADX continues to fall which mean the prior trend has ended.
I am placing stop below last Friday low on coming Monday and I will lift it to below the top band after.



Displaying OD FCPO W.png 

At the weekly chart , the current Japanese Candlestick confirmed the previous bullish reversal Candlestick as it closed higher than the last high. Price is getting closer to the bottom band but I need to see it closing above the bottom band to get really excited. The Stochastic has turned positive and it has been rising. But it is still below its 20's signal line. So as like with price, I need to see the Stochastic to cross up above its 20's signal line before begin to think about the return of the bull. The MACD stays negative but it is trying to turn around. The DMI stays negative but the D- is continuing to fall from its recent extremity. This shows the sellers are getting less confidence about their positions. But at the same time the D+ has just risen a bit and that is not encouraging enough for the bull yet. As the ADX continues to rise, so I still have to read the bearish trend is not over yet.
The current technical rebound may be getting overbought soon, so be cautious and get ready to take your profit off the table whenever possible.
FKLI - Market Could Collapse - 9/15/2014


Displaying OD FKLI D.pngLast Tuesday flashed a new buy signal as price closed above the top band but I was not in any hurry to enter a new position. I wanted to filter that signal with a following day price that is higher than the signal day high. It did not come as price begin to go back lower again.  Then on last Friday, price went below the bottom band with both the Stochastic and MACD turned negative. I would sell on the coming Monday if price can go lower Friday's low of 1848.50. The current sell signal is a little different from the last one as the D- has crossed above the 30's signal line. This usually mean there is an additional power to the selling. Another additional "strength" to the current sell signal is that the Stochastic is crossing below its 50's signal line as it done on 5/9, this time the price has actually gone lower than the last time of 1849.50. The final item to watch out for would be the ADX which has turned flat. The "flatness" could mean that a new cycle may begin next.

But as the ADX is still below the 20's signal line, so we could see more listless market coming forth. 



Displaying OD FKLI W.png 

The weekly chart has turned more bearish biased as price has closed below the bottom band. The MACD continues to fall and it is getting closer to crossing down the zero signal line. The Stochastic has turned positive and rising toward the 20's signal line. The contradicting MACD and Stochastic is telling us the market is still caught in a listless mode. So is the DMI which is below its 20's signal line. The falling ADX which has now reached 14's are adding more weight to the listless reading.  Be careful for price may just collapse below its recent low of 1832. If that level fails to hold, then it could signal the beginning of the end for this market.

I continue to place more merits to any new sell signals over a buy signal because of the bearish divergences.

Monday, September 8, 2014

中国“坏帐银行”再受关注


今年早些时候,
中国快速扩张的影子银行部门出现首例违约的可能性,震动了整个金融市场。

当时有传闻称,一款名为“诚至金开1号”(Credit Equals Gold No. 1)的30亿元人民币信托产品濒临违约,
投资者突然开始对中国整个金融体系的稳定性产生了怀疑。
但就在预计违约日的几天前,一位神秘的买家接盘解围,
使得投资者可以拿回所有本金和大部分应得利息。
英国《金融时报》获悉,
这位迄今仍未公开身份的隐秘救世主实际上就是华融资产管理公司(Huarong Asset Management)——上世纪90年代末为应对银行业体系内的巨额不良贷款而成立的4家“坏账银行”之一。
随着中国历史上最大规模的一场信贷扩张之一进入第6个年头,
中国各银行正在为新一轮坏账潮的到来做准备——部分分析师和经济学家相信,这波坏账潮 可能与上世纪90年代末的那波相当。
人们再次寄望于华融这样的公司扮演关键角色。

标准普尔(Standard & Poor's)的分析师胡旸瑞(Harry Hu)表示:“随着经济放缓,
市场预见到不良资产将会进一步增加。我们认为(华融和其他3家坏账银行的)业务规模将会增长。”
紧张迹象已经出现,数十份(乃至或许数百份)
发放给高风险借款者的高利率信托贷款遇到了麻烦,中国国有银行业体系连要避免彻底违约都很困难。
迄今媒体报道的信托产品得到纾困的案例大约有60起,
但美银美林(Bank of America Merrill Lynch)的分析师在上月的一份报告中写道,“在我们看来,每一个报道出来的案例背后,都有许多未得到报道的案例存在”。
“诚至金开1号”提供10%的年回报率,由中国最大的银行、
国有的中国工商银行(ICBC)销售给投资者。
尽管严格来说中国工商银行不用对此次违约导致的亏损负责,
但它仍承受着来自政府以及通过其分支机构购买产品的投资者的巨大压力。
为了在最后关头纾困该产品,
工行向华融发放了30亿元人民币的贷款,后者随后以大约95折的价格购买了该笔信托贷款。
这意味着投资者可以拿到几乎全部应得的钱,
人们对中国影子银行部门的信心也得以恢复,尽管代价是道德风险将继续存在。
华融计划通过首次公开发行(IPO)向全球投资者出售股份,
最有可能于明年上半年在香港上市。知悉纾困细节的人士称,这可能是它如此急于对此次安 排保密的原因。
华融对投资者宣称,自己已经从国家的一个部门,
转变为一家纯粹基于市场原则运营的商业实体;卷入这样一场带有明显政治色彩的纾困,将会破坏这一说 法的说服力。
在此之前,华融原本已让自己的上述说法具备相当可信度。

上周四,华融宣布以24亿美元的价格向8家投资者出售其21%
的股份,这些投资者包括高盛(Goldman Sachs)、华平(Warburg Pincus)和马来西亚主权财富基金国库控股(Khazanah)。
华融即将上市,以及它参与了中国影子银行业首例重大违约的纾困,
让人们重新关注起中国“坏账银行”的角色。
按照独立分析师的说法,上世纪90年代末,
在政府指令放贷由盛转衰之后,中国银行业实际上已经破产,坏账占到银行贷款组合的40%。
为了解决这个问题,中国政府创建了华融和其他3家“
资产管理公司”——中国东方资产管理公司(China Orient Asset Management)、中国长城资产管理公司(China Great Wall Asset Management)和中国信达资产管理公司(China Cinda Asset Management),其目的是将1.4万亿元人民币的坏账移出各银行的账簿。
中国政府接着向各银行注入总计数千亿元人民币的新资金,
并向外国投资者出售股份,最终让它们全都实现在香港上市——尽管中国政府仍拥有这些银行的 大多数股权和实际控制权。
在这些银行被纾困前,
中国所有银行的管理者通常都会按照地方政府官员的指令发放贷款,基本上不考虑借款者有无偿还能力。
在上市之后,这些银行变得更加商业化,开始对放贷对象严加挑选。

但在2008年全球金融危机之后,中国面临增长崩溃的局面,
于是中国政府要求银行不加区别地放贷、以支撑增长。
提振增长率的努力卓有成效,但它也导致了一场历史上规模最大、
最为迅速的信贷扩张,其中大量资金流向了偿还能力不确定的借款者。
中国最大的几家银行向香港和上海证券交易所提交的上半年度财务报
告全都显示,今年上半年坏账出现飙升。
中国银行(BoE)
在今年上半年核销和出售的坏账总额达到94亿元人民币,超过2013年全年的91亿元人民币。
眼下中国各银行的官方不良贷款率处于2011年3月以来的最高水
平,但依然很低,平均不良贷款率大约为1.08%。
以拥有4.5亿零售客户为荣的中国农业银行(ABC),
是中国大银行中遭受冲击最为严重的,不过其不良贷款率仍然只有微不足道的1.24%。
银行业高管和分析师们表示,
银行使用多种方法来低报坏账的真实水平,包括在风险最大的贷款变成不良贷款之前将其移出资产负债表,并重组为“诚至金 开1号”这样的表外信托产品。
中国规模最大的上市银行的股价全都低于账面价值,这间接反映出,
投资者认为这些银行账面上的贷款的价值实际上低于其面值。
随着更多的贷款转为不良贷款,
华融和其他坏账银行将活跃在又一场中国银行业整顿的第一线。
这些坏账银行已经在通过出售债券和股份来筹措资金,
并在从一些国有银行获取巨额贷款——它们将用这些贷款来从其他国有银行购买不良贷款。
即将爆发的违约潮(尤其是在信托领域)
将为坏账银行及其投资者提供从不良贷款处置过程中获利的机遇——这些坏账银行在过去十年中已经变得非常擅长 处理这类事情。
但这也会让它们再次面临政治指令的干预和政治方面的压力,在对“
诚至金开1号”的纾困中就涉及这种情况。
延伸阅读:中国不良贷款数据成谜

中国官方公布的不良贷款率为1.08%,看起来并不具有危险性,
但很少有分析人士相信这个数据反映了银行资产质量问题的真实大小
几乎可以肯定,中国的银行的不良贷款比例远低于得到官方承认的、
1997年达到的峰值25%,但对真实比例的估算依然只能是猜测。
症结是银行可以采取多种办法来掩盖其不良贷款。

最常见的办法是贷款滚转。
不想确认不良贷款的银行可以发放新贷款给借款人来偿还到期的旧贷款。
“在大型借款人有偿还困难的情况下,
银行不希望通过限制流动性令事情变得更糟,因此它们在寻找方法进行再贷款或贷款展期,”中国的一位资深银行咨 询师说。
“准确地说,这应该是不可行的,
但是近年来的许多贷款都被认为有政治考量,因此如果检查和监管机构认为借款人具有系统重要性并且最终能脱困,他们 通常允许一定的操作空间。”
国际货币基金组织(IMF)表示,
本金或者利息逾期90天未偿还的贷款,或者逾期利息被滚转入新贷款的贷款,应该被界定为不良贷款。
然而银行可以规避这种要求,
在旧贷款和新贷款之间留下几天的空隙。在这种情况下,企业借款人可以通过高息非正规借贷市场筹集资金偿付到期贷款。几 天后,借款人通过银行新发放的贷款偿还向地下钱庄的借款。
非正规贷款的年化利率可以达到40%或者更高,
但由于许多这类贷款只持续几天,企业依然可以付得起高利率。
银行还可以将不良贷款划分为“关注类”贷款(存在问题、
但还没有成为不良贷款的贷款),来掩盖不良贷款。
中国最大的银行中国工商银行(ICBC),
有2310亿元人民币(合370亿美元)的贷款被划分为“关注类”贷款,相当于全部贷款的1.98%, 是总额为1060亿元人民币的不良贷款的两倍多。
即使官方数据低估了不良贷款的数额,
其变化趋势还是可以说明问题。官方不良贷款率目前处于2011年3月以来的最高水平,而银行高管自己也表示, 他们预期不良贷款率还会继续攀升。
Australia going Down With China

The Sydney Morning Herald warns about a 'clear and present danger': Australia to be Hit as Chinese Economy Unravels

Speaking at a conference on Thursday, the federal government's former top resources forecaster Quentin Grafton said the iron ore price was unlikely to recover quickly, leading to a painful downturn in the Australian economy in 2015.

"This isn't about doom and gloom, it's about looking at the risk and numbers. It's a clear and present danger," Mr Grafton said.

He said the Reserve Bank of Australia should prepare for a difficult ride as the overpriced property market and high dollar created a challenging economic environment as coal and iron ore prices dropped.

Mr Grafton's comments join an increasingly vociferous choir of concern about the Chinese economy, with investor fears stoked by a Chinese residential property market that is experiencing its worst slump on record.

The average price of new homes has been falling in China for months, with the rate of decline accelerating from June (0.5 per cent) to July (0.8 per cent), sending tremors through the economy. It dropped another 0.6 per cent in August, bringing the average to $US1737 per square metre.

Property market issues are of critical concern for the Chinese economy and global investment community, as the property sector is a key economic driver that contributed 15 per cent of China's 2013 gross domestic product.

China's property market woes are directly linked to the Australian economy as Chinese residential property construction is a leading consumer of iron ore, which accounts for $1 of every $5 of Australian exports.

The dropping demand and oversupply issues have caused the iron ore price to drop to a five year low. It is currently hovering around $US84.38 a tonne.

The next historic low would take a significant slide to $76 a tonne, a rate not seen since September 2009.
Commodity Producer Countries Will Be Hit Hard

I have been discussing the same setup for quite some time. One of the first on this train has been Michael Pettis at China Financial Markets.

China is going to slow, without a doubt, and commodity producer countries such as Australia and Canada will take a hit.

China Banking Crisis 'Almost Certain'

Here's an article that caught my eye, not for what it said, but rather for what it dis not say.

Please consider China banking crisis 'almost certain', warns economist Gabriel Stein.
China's financial system is "almost certain" to face a full blown banking crisis according to a senior international economist.

Gabriel Stein, of economic consulting firm Oxford Economics, told a Sydney audience on Tuesday that Chinese authorities were understating the extent of bad loans on their banks' books and faced tough choices in dealing with the potential bank failure.

"We don't know when there will be a China banking crisis and how it will play out but it is almost certain there will be one," said Mr Stein, a professor at the University of London who served as chief economist at consulting firm Lombard Street from 1991 to 2012.

"We do think the financial risks are high. Bad loans are understated.

"If you compare to 20 years ago, credit growth had been the same and the Chinese authorities owned up to about 30 per cent of non-performing loans in the banking system. They currently claim its one per cent"

How Gwyneth Paltrow was 'educated'


'We danced to Sexual Healing': Gwyneth Paltrow admits she was 'educated' at offbeat school with 'interpretive movement'... and Marvin Gaye's biggest hit  

Gwyneth Paltrow offered a candid recollection of her days at an offbeat school that  used interpretive movement and the strains of of Marvin Gaye's biggest hit to educate its pupils.

The Oscar-winning actress daughter of producer Bruce Paltrow and Blythe Danner opened up about her bizarre schooling during a chat with affable TV host Jimmy Kimmel on Wednesday evening.
‘It was great but I didn’t learn anything,’ she said. ‘We used to meditate in the mornings. We had one teacher who was really into Sexual Healing by Marvin Gaye, so in the fifth grade we came in to that and we would dance and stuff.’

Candid:
          Gwyneth Paltrow chats with Jimmy Kimmel about her
          unconventional schooling on Wednesday evening's show
+10
Candid: Gwyneth Paltrow chats with Jimmy Kimmel about her unconventional schooling on Wednesday evening's show

She admitted the Californian school, which she says has improved over the years, turned its back on conventional schooling methods.

‘We didn’t really learn math or reading,’ she recalled. ‘But we had this awesome emotional movement class where our movement teacher would bang a tambourine and tell us to make a shape to express our feelings, so we had a great time.’

The 41-year-old beauty dazzled in a little black dress as she stepped out of Jimmy Kimmel Live in Los Angeles, where she was appearing to talk about her imminent hosting role at the Stand Up To Cancer benefit concert.

Plenty to
          talk about: Gwyneth revealed that her offbeat Californian
          school relied on interpretive movements and soul crooner
          Marvin Gaye to educate its pupilsGood
          times: The actress enjoyed some banter with the affable talk
          show host
Plenty to
          talk about: Gwyneth revealed that her offbeat Californian
          school relied on interpretive movements and soul crooner
          Marvin Gaye to educate its pupils
Plenty to talk about: Gwyneth revealed that her offbeat Californian school relied on interpretive movements and soul crooner Marvin Gaye to educate its pupils 
FCPO - Finally A Technical Rebound - 9/8/2014

Displaying OD FCPO D.png

My previous week's shorts trade was another "try out my luck" type as I have been maintaining that this market has been grossly oversold because:- (1) the ADX is above the DMI, (2) both of them are in extremity height and most importantly of all (3) was the Stochastic did not go lower but instead has begun to form higher trough. Price finally reversed and went back up above the bottom band which effectively closed off my shorts trade. I bought the market when price closed above the bottom band with the Stochastic turning positive. But if you are of the more conservative type of trader, you would only buy in the coming week when price can go higher than  2041 or the recent fractal high of2052. Though the MACD has already turned positive but it is relatively "far" from its zero signal line, so I would NOT get too overly excited about the current up move. The DMI remains negative but good news for the buyers are : the D- has now fallen below its 30's which mean the sellers have been losing their religion. And the ADX has begun to fall from its extreme high of 63's. This fall confirms the end of the prior trend.

Displaying OD FCPO W.pngThe weekly chart begins to swift its allegiance slightly. All the indicators remain negative but the Stochastic has finally turned around and got positive, but it is still below its 30's signal line.  The D- has begun to fall from its extremity but the ADX is still rising, so the trend remains intact. But there is a new piece of extremely bullish sign and that is the weekly Japanese Candlestick. It has formed an Engulfing Bullish pattern which the current white candle's real body completely contain the previous week black candle's real body. As this is found at the current FCPO strong downtrend, it is an extremely bullish sign. Further we can also interpret the current Japanese candlestick as a Piercing Line where price went lower than the previous bar and then reversed and closed significantly higher. This kind of pattern is of one of those extremely bullish type. Of course I would much prefer to see price to go back and close above the bottom band as a more comforting confirmation.

As there is no specially bullish formation in the daily chart except a minor bullish divergence at the Stochastic, so I would NOT call the current reversal as a new cycle terminal reversal but I would just call it as technical rebound in a grossly oversold market.