oops

is 300+ day coming?

 

if SPX goes to 1110-1120 regions, it will only trap more bulls.

big drop ahead

in next two days.  the kind with Dow –300… 

The tide has changed

This is still the very early stage of drop.  we may or may not have some rebound Monday morning, don’t count on it. 

 

Two week ago, I called the Jan 14-15 is the top, however the top is Jan 19.  From the chart below, you can see why.  The same chart, weekly point to 15th, but daily point to 19th (just change the time scale)… no idea how this happens.   but it’s not important anymore…

 

My EUR/USD is doing great, but USD/JPY is hit hard recently.  No gain on Forex in the past two weeks…

 

 

Next year, again

today is a sad day for me… Charger is not its own pace and eat the loss to Jet.  sigh… what a season for chargers…

 

A turning point for the market is here.  though 1161 is not reached last week, but we do print the high 1150 on Thursday…time is always more important than price… 

H&M and Wal-Mart destroy and trash unsold goods

Is this story familiar with u?  remind u of mid-30s’ last century?  it’s so sad to see this…

 

This week the New York Times reported a disheartening story about two of the largest retail chains. You see, instead of taking unsold items to sample sales or donating them to people in need, H&M and Wal-Mart have been throwing them out in giant trash bags. And in the case that someone may stumble on these bags and try to keep or re-sell the items, these companies have gone ahead and slashed up garments, cut off the sleeves of coats, and sliced holes in shoes so they are unwearable.

This unsettling discovery was made by graduate student Cynthia Magnus outside the back entrance of H&M on 35th street in New York City. Just a few doors down, she also found hundreds of Wal-Mart tagged items with holes made in them that were dumped by a contractor. On December 7, she spotted 20 bags of clothing outside of H&M including, "gloves with the fingers cut off, warm socks, cute patent leather Mary Jane school shoes, maybe for fourth graders, with the instep cut up with a scissor, men’s jackets, slashed across the body and the arms. The puffy fiber fill was coming out in big white cotton balls.”

The New York Times points out that one-third of the city's population is poor, which makes this behavior not only wasteful and sad, but downright irresponsible. Wal-Mart spokeswoman, Melissa Hill, acted surprised that these items were found, claiming they typically donate all unworn merchandise to charity. When reporters went around the corner from H&M to a collections drop-off for charity organization New York Cares, spokesperson Colleen Farrell said, “We’d be glad to take unworn coats, and companies often send them to us."

After several days of no response from H&M, the company made a statement today, promising to stop destroying the garments at the midtown Manhattan location. They said they will donate the items to charity. H&M spokeswoman Nicole Christie said, "It will not happen again," and that the company would make sure none of the other locations would do so either. Hopefully that's the final word

SPX target

Price: 1161

Time:  Jan 14/15

2010 Outlook

Happy New year!!  first all, wish you and all your family a healthy and prosperous 2010. 

 

The holiday season is over and before the first work day of the new year starts, let me give my outlook of the 2010.  Don’t take it too seriously, just for fun…

 

1.  USD rebound will be the theme of the year.  EUR/EUR Target 1.2 at least, current level is 1.43

 

2.  Stock market will retest 666 low.  current level 1115

 

3. GOLD will see 800 area first before making new high.  current level 1103.  (I am not a big GOLD fun, but I may load some GOLD related ETFs when 800 area touched.)

 

4. OIL may touch 100 area again in 2010, but after that, it will retest the 30s low.  Another choice is that it will go south from here directly.

 

5. BRICs will keep outperforming the Western world.  China will slow down its growth a little bit.  SSEC will visit 2000 area again, but will not make new low.   current level 3200.

 

6. More banks will fall this year and commercial credit default will play out.