Tuesday, June 30, 2009

永遠懷念家駒

Wong Ka-Kui (June 10, 1962 - June 30, 1993) was a Hong Kong composer, songwriter, musician and singer. He was the lead vocalist, rhythm guitarist, and the founder of the Hong Kong rock band Beyond.

He composed more than 90 percent of the songs for Beyond and wrote a few award-winning lyrics. Ka-Kui is remembered for his musical talents as well as his unique and powerful voice that is able to convey a number of emotions. His songs are often addressing humanity and social issues such as injustice, war and peace, racism, poverty, family and pursuit of dream.

Wong Ka-Kui had a great influence on at least a generation of Chinese because of his outlook on life and the spirit of never giving up. He devoted his entire life to achieve change in the Hong Kong music industry and also tried to make a difference in the world.

While filming a gameshow for Fuji Television in Japan on June 24, 1993, Wong Ka-Kui fell off a 3 meter platform head first, and was hospitalized immediately. He died after spending several days in coma due to internal bleeding of head injuries.







Polis Diraja Malaysia or Polis Raja Di Malaysia?

贿金从最低50元至最高数十万令吉

国会反对党领袖安华(左图)今日揭发,我国警队贪污蔚为成风,上下交征利,从下层的交通警察和反私会党组警员,上至武吉阿曼警察总部高官和正副内政部长都有份涉贪。贿金则从最低50令吉到最高数十万令吉不等。

也是人民公正党实权领袖的安华,今午参与《执法机构廉政委员会》法案的辩论时,做出这项惊人揭露,甚至还详细列出多个警队部门的受贿方式与数额。

安华已经把其国会演辞寄发给媒体刊登。

85%触犯交通规则者贿赂交警

1)交通警察

安华表示,根据警队内部调查显示,高达85%触犯交通规则的人士企图贿赂交警,因为贿赂警员,要比支付罚款来得省事与省钱。

他说,一旦交警开口索取的贿金数额,从50令吉到100令吉不等,但是开单罚款却要50令吉至300令吉。

“这种风气在全国盛行,只是很少人向反贪污委员会投报。”

安华表示,那些拥有重型车辆的公司,则每月定期付款给各州交警总部警员。

“为了瞒住反贪污委员会与公众人士的视线,警方照旧发出POL 257传票,以便显示警方没有偏私的对付所有罪犯。”

“这种行径已经有很多年,至今依然非常猖獗。因此,我们看到有许多警方人员与高层,享受与他们收入不符的奢华生活。”

安华甚至还揭露,运输公司如罗里、载客巴士、旅游巴士、学生巴士等,都会在每个月初或月杪,派出中间人与交警代表接洽,以便按期付款。一些警区主任甚至拥有本身独立的中间人收贿。

部长及警官利用延长扣留牟利

2)反私会党组

我国警方及犯罪组织,各自置放“间谍”,上演香港电影“无间道”的戏幕?

安华指出,警方通常是透过“告密者”或“线人”得到消息,才能够在行动中成功打击犯罪活动。这类打击犯罪行动的成败,仰赖线报的准确度,以及犯罪者所预先接到的通风报信。

不过,他说,犯罪集团在警队内通常也安置“间谍”,以便在警方行动之前给予通风报信。

他指出,在紧急状态法令下,警方有权力逮捕任何涉嫌犯罪的人士,并且扣留长达59天,然后在内政部长的同意下限制居留或延长扣留。

“因此,一些高级警官趁机牟利,索取10万令吉至15万令吉的贿金,释放这些犯罪者,以免遭到控告或限制居留。”

他说,武吉阿曼罪案调查组就经常发生这类事情。

“内政部长或副部长也不落人后,当警方在第59天发出指令后,在内政部长决定是否延长扣留时,趁机牟利。”

安华表示,早前曾经发生一宗警方被指没有准备完整的报告,导致一名恶名昭彰的犯罪者获得释放的案件,就连前首相马哈迪也曾听闻,警方高层与一名目前仍在内阁里头的前副内政部长代表或中间人,曾接获数百万计的贿款。

前国内安全部(现称内政部)副部长佐哈里曾在2007年遭匿名网站指控受贿,涉嫌收取550万令吉,以释放3名黑道人物。但是佐哈里否认指控,并把矛头对准警方,甚至透过国安部向反贪污局举报全国总警长慕沙哈山涉贪,引发政治人物与警队相互举报进行报复的嫌疑。两人所面对的涉贪指控,过后皆被总检察署所洗脱。

地下万字厂每月付款给肃赌组

3)肃赌活动

安华表示,在打击地下万字厂活动方面,有关方面每月都会付款给武吉阿曼、各州总部与各警区的肃娼、肃赌和反私会党组(D7)。

他说,每个警区都有1至4名非法万字厂老板,每月支付5万令吉至7万令吉予肃娼、肃赌和反私会党组警员,这已经不是秘密。

“在州警察总部方面,所接到的款项则不少过10万令吉至20万令吉;武吉阿曼警察总部则每月不少过25万令吉至35万令吉。”

“在一些地方,警方人员本身还成为他们的伙伴。”

前警官及高官当赌博公司董事

安华表示,警员与高官收取贿赂在警队内,已经是一种广泛且根深蒂固的歪风。

他说,无论是警区或武吉阿曼总部的警员,经常都会碰上非法赌博集团爪牙的“接触”,一些起初看来很正直的高级警员,最后也忍不住泥足深陷。

他指出,虽然有一些前警员愿意挺身作证,但是由于这个活动于过去50年来在警队内各级有秩序地操作,因此反贪污委员会根本就难以侦破他们的活动。

他说,一些前警方高官包括总警长、政府高官或国家领袖家属,受委为赌博公司的主席或董事,一点都不令人惊讶,因为这些非法赌博活动的幕后主脑是拥有执照的赌博公司,因此受到了保护。

http://www.malaysiakini.com/news/107457

Saturday, June 27, 2009

Jackson – weird but in a friendly way, certainly not a freak

KUALA LUMPUR: Show promoter Tan Sri Syed Yusof Tun Syed Nasir, who was instrumental in bringing Michael Jackson here for a two-night concert in 1996, said the King of Pop was “weird but in a friendly way”.

The iconic pop star was never the freak that the foreign media painted him out to be, he said.

“His behaviour was childlike. For instance, he liked to knock on the hotel room doors of his friends and then run away like a kid.

“He was full of love and very generous. During his visit to KL, I got to know him well and realised he was a gentle and talented person. I sympathised with him for the negative media reports.”

Jackson was also a nocturnal creature.

“His mind was hyper active at night,” said Syed Yusof. “That was the time he would write his songs or discuss business. I personally spent many late hours discussing business with him.”

They had planned to build a theme park here, but the project did not take off due to the economic situation then.

When Jackson was staying at Syed Yusof’s Concorde Hotel here during his concert, the singer would ring up his Malaysian friend in the middle of the night, saying he couldn’t sleep.

“I had to call in a doctor to get him to sleep,” Syed Yusof recollected. “He didn’t like to pop pills. So I asked the doctor to give him a jab.

“I first met Michael in Las Vegas (in 1995),” said Syed Yusof. “I stayed in his hotel room. He then took me on a tour of Neverland and his recording studio in New York. He was a good host, not to mention a good-hearted person. He had a lot of love in him, especially for children.”

The last time that he heard from Jackson was through his older brother, Jermaine, who is also a close friend of Syed Yusof’s.

“I met Jermaine two weeks ago and asked about Michael. Jermaine said his brother was fine.”

Syed Yusof has renamed the swanky room that his celebrity friend had stayed in Concorde KL as the “Michael Jackson suite”.

Located on the 18th floor, the room is full of photographs and collectibles of the superstar. Syed Yusof has also put Jackson’s doodles on the wall.

“Aside from music, Michael loved to doodle.

“Michael wanted to be remembered as the greatest entertainer in the world. And I think he achieved that. What’s really disappointing is that I was planning to go to London for his concert on July 8,” said Syed Yusof.

Stephen Yap, who was promotions manager with Sony Music (M) in 1996 when Jackson was here said: “There wasn’t the usual ‘diva’ fanfare surrounding him. Even with his bodyguards present, he was pleasant to us. In fact, we even had tea with him. He wasn’t one of those stars who was just waiting for his social commitments to be over and done with. He really cared about the things around him.”

Cynthia Chen, project director for Jojo Events, said: “The concert was the biggest and most expensive production for a solo artiste I have worked on. He seemed like a nice but shy person. Do you know that the Concorde Hotel was closed for bookings the whole time he was here? And we completely refurnished the presidential suite for him.”

Michael Roche, regional director of Lushington Entertainments, the promoter responsible for bringing Jackson to this region in 1996, said: “I remember at the Merdeka Stadium concerts, there were a few restrictions that we were meant to adhere to. And we told Michael to try and refrain from doing his famous crotch-grabbing routine. He politely assured us he wouldn’t. And as he hit the stage, that’s exactly what he did, sending the audience wild with excitement.

“He had this mischievous streak in him. When he checked in at the Concorde Hotel, he felt it was very cold and said he wanted heaters, even though it was 30-odd degrees outside. We had to scramble and try to sort that out for him, and that was the element of fun about him ... he was always delightful and charming about it all.”

Apparently, Jackson was not one of those stars who liked to stay cooped up in their hotel room. He went out on the town and took in some sights while in Kuala Lumpur, said his Malaysian pals.

Michael Jackson had history of health problems

Pop icon Michael Jackson, 50, who died Thursday afternoon after being rushed to a Los Angeles hospital in cardiac arrest, had a long history of confirmed health problems, in addition to rumored conditions.

In 1984, Jackson was burned while singing for a Pepsi-Cola commercial in Los Angeles, when a special-effects smoke bomb misfired. He had to have major surgery on his scalp and said that because of the intense pain, he developed an addiction to painkillers.

He also was reported to have a form of lupus in the 1980s, but it was later said to have gone into remission.

Jackson also had had numerous plastic surgeries, including rhinoplasty and a chin implant.

In 1993, Jackson's dermatologist, Dr. Arnold Klein, released a statement saying that Jackson had a skin disease called vitiligo. The condition causes a person to lose melanin, the pigment that determines the color of skin, hair and eyes, in patches or all over the body. Vitiligo affects 1 million to 2 million people in the United States, according to the National Institutes of Health, and no one knows what causes it.

He was also hospitalized with chest pains in 1990 and postponed a concert because of dehydration in August 1993. A concert tour was cut short in November 1993 because of an addiction to prescription painkillers amid allegations of child molestation.

During a rehearsal at the Beacon Theater in New York in December 1995, the entertainer collapsed onstage from apparent dehydration and low blood pressure and was hospitalized.

While jurors deliberated in a case in which he was accused of child molestation in June 2005, Jackson went to a hospital for treatment of what his spokeswoman said was recurring back pain. He had complained of back problems before.

Rumors circulated in December that Jackson was ill and in need of a lung transplant because of Alpha-1 antitrypsin deficiency, a rare genetic condition.

More rumors emerged in May that Jackson had skin cancer. But Randy Phillips, president and CEO of AEG Live, told CNN at the time, "He's as healthy as he can be -- no health problems whatsoever."

Jackson apparently collapsed in his home in Los Angeles on Thursday and was taken by ambulance to UCLA Medical Center.

Jackson family attorney Brian Oxman told CNN on Thursday that Jackson's use of medications had gotten in the way of doing rehearsals.

"His injuries, which he had sustained performing, where he had broken a vertebra and he had broken his leg from a fall on the stage, were getting in the way. I do not know the extent of the medications that he was taking," he said.

Cardiac arrest, distinct from heart attack, affects about 300,000 Americans every year, Dr. Clyde Yancy of the American Heart Association told CNN. Without immediate efforts to resuscitate a person, the survival rate is usually 5 percent to 15 percent, he said.

If resuscitation takes longer than three to five minutes, a person could experience profound impairments, particularly neurologically, he said. Beyond five minutes, the likelihood of success falls quickly, especially in older people. Younger people can tolerate cardiac arrest somewhat better, he said.

Questions On Jackson's Death

People search the Web to find answers. And Thursday, when Michael Jackson died, people across the country and around the world had a lot of questions. Below is a summary of some of the most popular lookups surrounding the untimely death of the King of Pop...

1. Who dubbed Jackson the "King of Pop"?: Searches on Jackson's famous nickname surged an astounding 3,645% yesterday. Related searches on who came up with the phrase were also extremely popular. While most believe that Jackson anointed himself "The King of Pop," according to sources on the Web, Elizabeth Taylor actually coined the phrase at a 1989 awards gala. Jackson is rumored to have insisted that MTV call him by his royal nickname.

2. When did Elvis die?: The sudden and tragic death of Jackson brought back memories of another king who died too soon. Queries on "death of elvis," "when did elvis die," and "how did elvis die" all surged into breakout status. For the record, Presley passed away on August 16, 1977. He was 42 when he died of an apparent drug overdose. Also surging in search: "When did John Lennon die." The Beatle was killed on December 8, 1980.

3. Heart attack vs. cardiac arrest: Reports that Jackson had died of cardiac arrest spurred incredible interest in the difference between that and a heart attack. A heart attack is when a portion of the heart muscle dies due to a blockage of the coronary arteries that supply blood to the heart muscle. Cardiac arrest is when the heart actually stops beating. This can be caused by several things including medications and can also follow a heart attack if too much of the heart muscle dies.

4. How to do the moonwalk?: Jackson's signature step surged 56,873% on Thursday. Reminded of Jackson's heyday, people looked up tips on how to perform the move. An article from WikiHow gives would-be Jackos a step-by-step set of instructions, but you may find viewing a video from the master much more informative (if a bit intimidating).

5. Order of Michael Jackson's albums: There was also an instant surge of lookups for MJ's discography. All told, he released 10 albums. They were, in order: Got to Be There; Ben; Music and Me; Forever, Michael; Off the Wall; Thriller; Bad; Dangerous; HIStory; and Invincible. Jackson's biggest seller was, of course, Thriller.

6. What is vitiligo?: Though many believed that Jackson bleached his skin, the star actually suffered from vitiligo, a skin disorder that leads to de-pigmentation.

Friday, June 26, 2009

Michael Jackson, 1958-2009: The Talent and the Tragedy







The tragedy of Michael Jackson's death at age 50, reportedly from cardiac arrest, pales in comparison to the tragedy of his life. To understand all that Jackson had and lost requires wiping away three decades of plastic surgeries that deformed him, erratic behavior that made his name synonymous with the warping powers of fame, and a 2005 trial for sexually abusing a child that, even though he was spared of any finding of wrongdoing, made him a pariah to all but the most brainwashed of fans.

But if you can forgive or forget all that, underneath was one of the most talented entertainers of the 20th century. Quincy Jones who produced Jackson's quintessential solo albums was devastated by the news of his passing. "I've lost my little brother today," Jones said in a statement, "part of my soul has gone with him." Said Jones: "Divinity brought our souls together... and allowed us to do what we were able to throughout the 80's. To this day, the music we created together on Off The Wall, Thriller and Bad is played in every corner of the world and the reason for that is because he had it all...."

Jackson was born in 1958, the seventh of nine Jackson children, and before he reached age six he had joined his brothers in the Jackson Five. By the age of eight he had taken over lead singing duties with brother Jermaine, but there was no question who was the star of the group. Little Michael was the best dancer and singer of the bunch, but he also had the mysterious thing that record bosses and studio chiefs crave: star power. Michael appeared to be his best and most interesting self when everyone in the world was watching.

As Michael aged into adolescence the Jackson Five, renamed The Jacksons after their departure from Motown Records, inevitably lost some of its charm. A solo career followed, and after a steady stream of middling hits that attempted to milk the last bit of innocence from Jackson's voice, Jackson had the good fortune to hook up with Quincy Jones while filming The Wiz. The two shared a vision for what Jackson's career as an adult might be and on 1979's Off The Wall they executed it beyond even Jackson's dreams. With songwriting help from Paul McCartney and Stevie Wonder, Off the Wall spun off four Top 10 hits and two number-ones - "Don't Stop 'Til You Get Enough" and "Rock with You."

At 22, Jackson not only became one of the most admired pop musicians in the world, but one of the globe's most famous people. And his fame only increased with the 1981 release of Thriller, which was to become the best-selling album of all-time (until it was eclipsed in the late '90s by The Eagles Greatest Hits, 1971-1975.) Seven of the record's nine tracks made the Top 10, and the Quincy Jones-produced hooks remain awe-inspiring. In a cover story about Jackson and Thriller, TIME described him as "a one-man rescue team for the music business. A songwriter who sets the beat for a decade. A dancer with the fanciest feet on the street. A singer who cuts across all boundaries of taste and style and color too."

While Jackson had few ambitions at the time beyond global domination, it's worth noting that "The Girl is Mine" established interracial love as a pop music theme and "Beat It" (with Eddie Van Halen's guitar solo) bridged arena rock and soul four years before Run DMC met Aerosmith. On March 25, 1983, Jackson may have reached the very peak of his fame when he unveiled his signature dance move, the moonwalk, live on the "Motown 25: Yesterday, Today, Forever" television special.




The years after Thriller, however, were marked by a slow descent into what was first dismissible as eccentricity. Jackson attended the Grammys on a triple date with Emmanuel Lewis and Madonna, purchased a chimpanzee named Bubbles and was diagnosed with vitiligo, a condition that he said was responsible for the steady lightening of his skin. But his songwriting genius remained undeniable. With Lionel Richie Jackson, he co-wrote "We Are the World," a 1985 charity single that raised an estimated $50 million for famine relief in Africa and ushered in the era of celebrity philanthropy.

After the release of 1987's Bad, a disappointing follow-up to Thriller, Jackson purchased the 2,800-acre Neverland Ranch in California, and his public weirdness became almost aggressive. In his biography, Moonwalk, Jackson wrote of childhood abuse at the hands of his father and multiple plastic surgeries, subjects he returned to in a 1993 interview with Oprah Winfrey that was one of the most watched non-sports programs in American history.

Shortly after, Jackson was accused of child sexual abuse in a suit brought by Evan Chandler on behalf of his then 13-year-old son Jordan. Chandler told a psychiatrist and police that he and Jackson had engaged in sexual acts that included oral sex; the boy gave a detailed description of Jackson's genitals. The case was settled out of court for a reported $22 million, but the strain led Jackson to begin taking painkillers. Eventually he became addicted.

To counteract the stigma that came with the allegations of pedophilia, Jackson married Lisa Marie Presley in a relationship Elvis' only daughter later dismissed as a sham. Two years later they divorced.

Given the tumult in his personal life, it's no surprise that the 1990s were a barren period for Jackson creatively. In 2001 he managed to pull himself together enough to release Invincible and stage two concerts celebrating his 30th anniversary as a performer at New York's Madison Square Garden. The shows, held a few days before Sept. 11, were a capsule of all Jackson had become. There were bizarre cameos from friends Marlon Brando, Liza Minnelli and Eliabeth Taylor. Macaulay Culkin sat next to Jackson in a royal box. But several hours after the proceedings began, when Jackson finally took the stage, all the years of Wacko Jacko melted away. Then in his early 40s, he could still dance and sing better than almost anyone in the world, and he still had star power. The Jackson on display in those concerts was one the world admired and the one that will be missed.



Wednesday, June 24, 2009

Now Everyone can fly! Airasia boleh!




MALAYSIAN budget carrier AirAsia today scrapped administrative charges to boost passenger numbers but said it has not been hurt by the downturn that has affected most airlines worldwide.

After hitting a peak on 2 Jun 2009, Airasia Bhd started to drop since then. These 2 days, Airasia share price is stabilizing and it is showing sign of rebounding. There is a solid support at RM1.08 for Airasia, thus i don't expect it to be broken. It is hard to buy a stock exactly at its support, I think we should start accumulating it when it is nearing its support. Airasia has dropped 20% and Airasia-ce has drop 67% since 2 June 2009. Airasia-ce still has another 71 days before it expires, that has to be taken in consideration if we were to open position on the call warrant.

I think there is a positive chance that we manage to gain a profit of 100% or even more 100% if we open position on the call warrant. If Airasia-ce manages to return to its 2 June price (RM0.175) , then the profit would be around 200% if we manage to buy Airasia-ce at RM0.06. The main risk that would keep on holding Airasia back is swine flu dragging for months and becomes out of control. In my humble opinion, I don't think swine flu would hold airasia back for months. After all, swine flue is not as serious as SARS.

Please bear in mind, warrant is a risky financial instrument and not everyone is suitable to invest in warrant.

Even though the world’s airlines are expected to lose US$9 billion this year, industry body IATA said early this month in a drastic reassessment of the worst slump the industry has ever face, I am still confident Airasia will remain profitable in the coming quarter.

“I have been in the business for the last seven years. There has been perpetual headwinds such as the outbreak of SARS (Severe Acute Respiratory Syndrome in Asia in 2003) and tsunami. We will continue to grow,” Tony Fernandes

Saturday, June 20, 2009

Testing 123 on foreign call warrant.






Lately I have putting my thought on foreign call warrants especially hong kong call warrants. There are a few reasons that i would like to put my money on these trade such as:
1) I think the current uptrend is still intact.

2) I would like to make good use of hong kong high beta market
3) I think hong kong stock market would rebound faster than our local stock market.
4) Hang Seng Index dropped more than KLCI. Hang Seng Index dropped from its peak of 31897.5 in Nov 2007 to its bottom of 11015.85 in Oct 2888, ya, it was a drop of whopping almost 70%! KLCI dropped from 1524 in Jan 2008 to its bottom of 801 in Oct 2008. KLCI dropped less than 50%.
5)I am still confident with its fundamental.
6) reasonable premium for its call warrants.

There are a few hong kong call warrants worth a look such as HKEX-CB, HSI-C7 and HSBC-c5. It would better to start to accumulate them during market correction.

For your information, Hang Seng is one of the most volatile market in the world.


Friday, June 19, 2009

Airasia Vs MAS





It is really interesting to compared Airasia and Malaysian Airline System Bhd (MAS). Both of them have just released their quarterly report. Airasia released its quarterly report on 29 May 2009 and MAS released it quarterly report on 12 June 2009.
In my humble opinion, Airasia released one of the best quarterly report among our local blue chips; and ironically MAS released one of the worst quarterly report among our local blue chips.
AirAsia Bhd’s earnings rose 26% to RM203.15 million in the first quarter, up 26% from RM161.28 million a year ago.
MAS reported an unrealised fuel mark-to-market (MTM) loss of RM3.38 billion for its first quarter ended March 31, 2009, triggered by the unprecedented collapse in fuel prices in late 2008 and early 2009. The national carrier posted net loss of RM694.8 million in the first quarter ended March 31, 2009 compared with a profit of RM46.6 million a year ago. The net loss included derivative loss of RM557.0 million with the early adoption of financial reporting standards (FRS 139). In a statement to Bursa Malaysia, it said that it has applied and been granted a conditional waiver until Dec 31, 2009 from being categorised as an Affected Listed Issuer under PN 17 after it triggered the criteria under Paragraph 2.1 of PN 17 in relation to shareholders’ equity.
Even though both of them released opposite quarterly report, their share prices also reacted differently. As we can see, MAS shares prices up from RM2.37 on 12 March 2009 to close at Rm3.18 on 19 June 2009. Ya, it gains around 40%. Even though after it released a disastrous quarterly report, it share prices did not suffer much. Why? is it because MAS is a government link company (GLC)?
The scenario is quite different with Airasia. Even though Airasia released quite a good report, its share price drop from RM1.35 on 1 June 2009 to RM1.13 on 19 June 2009 (down around 30%). Its shares price start to drop since the day it released its good quarterly report. Why? Compared to MAS (up 40% since March), Airasia up only around 20%
There is something wrong with our investors, they appreciate losses and purnish profits. Weird thing! Kalau kita teruskan macam ni, Malaysia Boleh?! Malaysia Pasti Boleh??!! #@*#!
I see a good trade in Airasia. For those who like more leverage, Airasia-ce is also a good choice.As a reminder, airsia-ce is going to mature in another 2 month.
Good luck!

Thursday, June 18, 2009

I am free!

For the last two months, I was quite busy with my networking business and my CFA level 1 examination preparation. I sat for my CFA level 1 examination on 7 June 2009. Ya, it was a very tough exam to pass. Normally, CFA level 1 passing rate is around 35%. I really hope this time i can manage to pass it.

Now i can focus on my trading. These few days the world markets are down a lot. I think it is really a good chance for us to start to accumulate stocks. Most people avoid buying stocks when the market is in red region, in fact, they sell their stock when the market is in the red. Then they buy when the market is in green region.

The way i invest is more to a contrarian style. Thus I will try to persuade myself to buy stocks when the market is in the red. Contrarian styple is an investment style that goes against prevailing market trends by buying assets that are performing poorly and then selling when they perform well. A contrarian investor believes that the people who say the market is going up do so only when they are fully invested and have no further purchasing power. At this point, the market is at a peak. On the other hand, when people predict a downturn, they have already sold out, at which point the market can only go up. Contrarian investing also emphasizes out-of-favor securities with low P/E ratios.

At first, i found it hard to successfully persuade myself to buy stocks when the market is in the red. When the market is in the red, it felt like the end of the world.

Now, i am getting more used to buying stocks when the market is in the green. From my experience, it is more profitable when we buy stocks when the market is in the red region and sell stocks when the market is in the green region.

Early of June I sold around 30% of my portfolio as i was not confident that the market would keep on going up. I was not able to accurately predict the market, the market kept on going up the last few days. Some stocks are already down 20-30% in the last few days.

Again, i would to say, now it is quite a good time to start accumulate good stocks.I still think the market is in an uptrend.

I will keep you all update with my trade.

Enjoy your trading.

Up! Up! Up!

Tuesday, June 2, 2009

Pending Home Sales Up 6.7%, Biggest Gain in Over 7 Years

The number of U.S. homebuyers who agreed to purchase a previously occupied home in April posted the largest monthly jump in nearly eight years, a sign that sales are finally coming to life after a long and painful slump.

The National Association of Realtors said Tuesday its seasonally adjusted index of sales contracts signed in April surged 6.7 percent to 90.3, far exceeding analysts' forecasts. It was the biggest monthly jump since October 2001, when pending sales rose 9.2 percent.

"This is yet another positive indication that the bottoming process is forming," Jennifer Lee, an economist at BMO Capital Markets, wrote in a note to clients. "Now if only prices would stabilize."

Economists surveyed by Thomson Reuters expected the index would edge up to 85 from a reading of 84.6 in March.

Typically there is a one- to two-month lag between a contract and a done deal, so the index is a barometer for future existing home sales.

"The pronounced increase in April does indicate that actual existing home sales are poised to rise in the coming month or two," wrote Joshua Shapiro, chief U.S. economist with MFR.

The index was 3.2 percent above last year's levels and has risen for three straight months after hitting a record low in January.

A nearly 33 percent sales increase in the Northeast and a 9.8 percent jump in the Midwest led the overall surge. Sales contracts rose 1.8 percent in April from a month earlier in the West, but fell 0.2 percent in the South.

The big boost likely reflects the impact of a new $8,000 tax credit for first-time homebuyers that was included in the economic stimulus bill signed by President Barack Obama in February.

Since buyers need to finish their purchases by Nov. 30 to claim the credit, "we expect greater activity in the months ahead," Lawrence Yun, the Realtors' chief economist, said in a statement.

Still, Yun cautioned that the pending sales data is more volatile than in the past because many sellers need banks to agree to take less than the original mortgage—a so-called "short sale." That process is often difficult, time-consuming and can wind up falling apart before the deal closes.

The Federal Housing Administration last week released details of a plan in which borrowers who use FHA loans can get advances from lenders that let them effectively receive the credit in advance, so they don't have to wait to get the money from the Internal Revenue Service.

Completed home sales rose 2.9 percent to an annual rate of 4.68 million in April from a downwardly revised pace of 4.55 million in March, the Realtors' group said last week.

Sales of inexpensive foreclosures and other distressed low-end properties have even sparked bidding wars in places like Las Vegas, Phoenix and Miami.

But the market for high-end properties remains at a virtual standstill.

The national median sales price in April plunged more than 15 percent to $170,200, from $201,300 in the same month last year. That was the second largest yearly price drop on record, according to the Realtors' group.