Just finished reading Conrad's notes (Wealth Academy Trader) and practising on Fibonacci(FIB). 1 of the exercises is to practise FIB on the Dow Jones(INDU). Try that on the downside seems mkt is bearish and if I did it correctly, INDU MAY drop to ~11600 in 2mths. That means end of April, I should see INDU at around that point. We'll see.... Hopefully, I using the FIB correctly.... if I found there is wrong, I'll be back ya.... Cheers!

“Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.” -Warren E. Buffett

Warren Buffett :- I'm a bull on the United States

Warren Buffett said Wednesday he is confident the U.S. financial sector can get through its troubles without a government bailout and remains bullish about the long-term prospects for the U.S. economy. "I am a huge bull on the American economy," said Mr. Buffett, in an exclusive interview with the National Post. The comments from Mr. Buffett, the world's second richest man and regarded as one of its most successful investors, come as the United States sits on the brink of recession, bogged down by a housing market implosion that threatens to derail the consumer and that has left many U.S. banks saddled with defaulting subprime mortgages. Financial markets around the world have been heaving amid fears that banks will have restrain lending and damage other areas of the economy in order to shore up their capital and rebuild their balance sheets. But Mr. Buffett says the United States has survived such turmoil before. "We'll always get through," he said. "I'm a bull on the United States. Just think about how silly it would have been to be anything other than a bull on the United States since 1790. It is not a smart thing to sell the United States short over the years -- or Canada for that matter. The world does get better. People get more productive. More human capacity is unleashed over time." Mr. Buffett is chairman and chief executive officer of Berkshire Hathaway Inc., a holding company with a market capitalization of almost US$210-billion and investments in such iconic American companies as The Coca-Cola Co., American Express Co. and The Procter & Gamble Co. He has built his business by buying companies in businesses he understands, that have strong management, consistent earnings power, good return on equity and little or no debt. If he can get them at a cheap price all the better. He said the banks will be able to work out their troubles without government assistance but may not be the "best investments." Many of the big banks, including Merrill Lynch, Citigroup, Morgan Stanley and Canadian Imperial Bank of Commerce, have taken huge losses against their books on defaulting sub-prime loans and all the complicated derivatives that have been packaged up and sold against them. "They're going to be around," he said. "The ones that have taken the big write-offs, they're not going out of business but they're selling a lot of new shares in the process so they're diluting future earnings. They're paying a price. "I think most of the very big ones and I won't name names, I think five or 10 years from now people will have made money on them but I think they'll have made money on other things too. I don't think necessarily they're the best investments, but they have not been permanently crippled." He sees no need for any government bailouts in the financial sector, similar, to the government rescue of U.S. banks during the savings and loans crisis in the early 1980s. U.S. banks have enough money to handle the extra cost. "They can handle it and they're paying a price for it," he said. "Somebody has to bear those losses. Is it better that the XYZ bank bears it or is it better to socialize it for the American public. I'd rather have the XYZ bank pay for it." Mr. Buffett, who was in Toronto to promote the launch of Business Wire in Canada, a corporate news release company, said he sees no problem with foreign countries -- through so-called ‘"sovereign wealth funds" -- buying up big stakes in U.S. financial stocks. "It's the inevitable consequence of our trade deficit," he said. "If we're going to consume US$2-billion a day more of foreign goods than we sell to the rest of the world we have to ship them something in exchange. Initially we may ship them American dollars but those get converted into American assets of one sort or another. The United States is fueling the sovereign wealth funds. We're making deposits in their wealth funds in effect." Mr. Buffett has been a long-term critic of huge U.S. trade and current account deficits, a key reason he believes the U.S. dollar has weakened over the years and why he believes it will continue to weaken particularly against the Canadian dollar. While Mr. Buffett has certainly seen some weakening of demand in his businesses - Berkshire owns retail jewelry and candy operations - he does not believe the United States is facing a major credit crunch that will cripple the economy. "We actually went through a rolling credit crunch of sorts and we're still in it to some degree, but what we've really done is seen credit cut off to a lot of things that should have been cut off and we've seen credit that was mispriced get repriced," Mr. Buffett said. "The money is there ...we do not have an unavailability of credit to people who've got reasonable credit demands and it's not expensive. We're not in a credit crunch for those who have sound deals. I went through 1982 when short-term money cost 21%. This is not a tough period." Eventually the excess demand in the housing industry will be sopped up by a population that is expanding at about 1% a year. "Demand does soak up excess supply but it can take a while to do it ... but you do not have the problem that if you have excess supply it just sits there forever."

Market Summary 08 Feb 2008 - Investorguide

...quote from http://www.investorguide.com/ Wall Street ended a rough week mixed Friday, as ongoing credit market woes dragged down the financial sector and broader economic issues continued to weigh on investors. The Dow Jones industrial average, which had climbed into positive territory in early trading, fell more than 60 points. The tech-heavy Nasdaq was up 12 points, thanks to Amazon.com's stock buyback plan. Amazon.com (AMZN: Charts, News, Offers) said its board approved a plan to buy back $1 billion of the company's stock over the next two years. The company also said it was setting up a program to buy back debt. Shares jumped 3%. The financial sector continued to slow down the market amid continued uncertainty over the impact of the credit market crisis. Cognizant Technology Solutions (CTSH: Charts, News, Offers) reported higher fourth-quarter profit that beat expectations. McDonald's (MCD: Charts, News, Offers) said same-store sales rose 5.7% in January, helped by strong growth overseas. On the economic front, the Census Bureau reported that wholesale inventories rose 1.1% in December, topping forecast.

A Father's Love for His Son....

I saw this video and it really touched my heart. It something I would thought impossible but this MAN made it..... they completed the Ironman and not just once....!!!!!


Quoting from 1 of my good old (no he is not old...) friends said, it's proven over and over again its the heart and mind that will not be deter.

Great works are performed not by strength but by PERSEVERANCE

When you make a failure, it is because you have not asked for enough; KEEP ON, and a larger thing then you were seeking will certainly come to you. Remember this. You will not fail because you lack the necessary talent to do what you wish to do. If you go on as directed from the book The Science of Getting Rich, you will develop all the talent that is necessary to the doing of your work

do ALL that can be done in that day

Do, every day, ALL that can be done that day. There is, however, a limitation or qualification of the above that you must take into account. You are not to overwork, nor to rush blindly into your business in the effort to do the greatest possible number of things in the shortest possible time. You are not to try to do tomorrow's work today, nor to do a week's work in a day. It is really not the number of things you do, but the EFFICIENCY of each separate action that counts. Every act is, in itself, either a success or a failure. Every act is, in itself, either effective or inefficient. Every inefficient act is a failure, and if you spend your life in doing inefficient acts, your whole life will be a failure. The more things you do, the worse for you, if all your acts are inefficient ones. On the other hand, every efficient act is a success in itself, and if every act of your life is an efficient one, your whole life MUST be a success. The cause of failure is doing too many things in an inefficient manner, and not doing enough things in an efficient manner.

The Science of Getting Rich

I found out this book, The Science of Getting Rich by Wallace D. Wattles is available in Wikisource. The the power of internet. No need to go library, no need to buy.....I have hyperlinked it at the Page Element on the right side under Personal Success Tools. Hope you find it useful... 1) Put your whole mind into present action. If you act in the present with your mind on the future, your present action will be with a divided mind, and will not be effective. 2) You cannot act where you are not; you cannot act where you have been, and you cannot act where you are going to be; you can act only where you are. 3) Do not bother as to whether yesterday's work was well done or ill done; do to-day's work well. Do not try to do tomorrow's work now; there will be plenty of time to do that when you get to it. 4) It is faith and purpose in the use of the imagination which make the difference between the scientist and the dreamer. We must form a clear mental picture of the things we want, and hold this picture in our thoughts with the fixed PURPOSE to get what we want, and the unwavering FAITH that we do get what we want, closing our mind to all that may tend to shake our purpose, dim our vision, or quench our faith. We may receive what we want when it comes, we must act NOW upon the people and things in his present environment.

Preview of Wealth Academy Trader

I just finished attending AKLTG's Wealth Academy Trader preview. I knew the presenter as well as the coach for this program, Conrad when he was attending another program in Option trading.... I salute him for his perservence to succeed in trading... Yes, there are "marketing" talk(as other would say), but my opinion, they are mostly FACTS, of course there are some humour added else the preview will have zombies ya. Well, I always wanted to learn more about trading and I sincerely hope I found a geniune coach this time... yes, I attended a few of these programs before with other "school" and the result does not seem to concide with what the coaches preached during and before the seminar.... My friend commented that why am I wasting time with this trading stuff, they asked me, Am I making money after all these years, Truth is NO. I actually had my biggest lost this year... DUE to greed....Yes, I was making money but due to greed, I did not sell and now the profit has turned into LOSSes..... My answer to them is I not sure why I have this but I have this belief that it can be done, i.e. trading for a living..... I BELIEVE it can be DONE. Yes, they think that I'm dreaming.... I want to show them it can be done and I want to be a LIVING prove to them someday... I hope the day will come soon... But 1 thing for sure, I believe I will definitely learn something from this course, just a matter of more or less.... but I will definitely give 110% to learn from this program and hope to "squeeze" whatever out of Conrad....
Will give more update once I attended the first lesson/tutorial on 12th Feb... Stay TUNED!