LHN8 - Friday’s long red candle and 20EMA going down and expected to penetrate 81EMA at a tight range.  I see immediate support at $71.94 and then $71.33.

LHQ8 - Friday’s red candle supported at 81EMA @ $76.60.  Will have to see if this holds.  If not then will go lower to $75.00

The PM of Malaysia (Abdullah Ahmad Badawi) has announced a 40% fuel price hike of 0.78 sen which translates to RM2.70 per litre with immediate effect from midnight 4 June 2008. Petrol Stations everywhere are packed with vehicles lining up to fill their tanks before the price increase.

For a Toyota Vios, if you were paying RM78 for a full tank previously now you have to pay RM110. Assuming if you had to pay RM292 petrol for one month, with the 40% price hike now you will have to cough up an extra RM117 per month (dulu RM292 sekarang RM409) of petrol.

But trying to cool people’s anger for the ridiculous price hike, our PM Abdullah Ahmad Badawi announced a RM625 annual rebate for people with cars below 2000 cc. Calculated monthly, RM625 will translate to RM52.08 per month (RM409 - RM52.08=RM356.92). Not much help, right? Don’t think that you’re only paying for the price increase in petrol. Daily necessities like meat, vegetables and rice will also skyrocket, not to mention milk powder - why, my baby still needs her milk!!

I proclaim our PM Abdullah Ahmad Badawi a qualified rocket scientist - albeit an uncertified one. He has the guts to say don’t be angry about the increase, and that the government had to do it now for the nation’s long-term benefit? Malaysia is an oil producing country and with the soaring crude price it should benefit the country more and the people should NOT be penalized by being forced to pay more for what we ourselves produce. Our former PM Dr Mahathir Mohamad says that “…Petronas made a profit of well over RM70 billion, all of which belong to the Government.….the Government is flushed with money”. If this is true (and people with a decent mind can tell you that it is), can we assume that this is a punishment after the ruling coalition party lost 5 states to the Opposition at the recent General Election in March 2008 - unprecedented !!

The next UMNO General Assembly will be in December with mounting pressure for him to step down from the public as well as within UMNO and very pronounced by Dr Mahathir Mohamad, it is very unlikely that Abdullah Ahmad Badawi can stay on as PM for very long. It is believed that private arrangements are already being made between the PM and Deputy PM (Najib Tun Razak) for the transition of the PM’s post. So, why did Abdullah Ahmad Badawi choose this time to increase the fuel price to add on to his unpopularity? Unless there are other ulterior motives? So, even if he had to exit and take his “crown” down, he and family would still be the winner at the peril of the rakyat.

Looking at the 6 month daily chart, SBN8 has been on a downhill pattern since it peaked at $15.18 on 4 March 2008. It is trading near the 1 year low of $9.56. Yesterday it traded at a low of $9.82 before recovering to close at $10.02. The 20EMA crossed over the 200MA on 21/5/2008 and I expect the 81EMA to cross the 200MA line sometime next week. The MACD is indicating that it will go higher sometime next week. Will keep an eye on this one.

Today is Sunday and we decided to hike up to Hill No. 3 from Youth Park. Why is it called No. 3? I don’t know but the highest is No. 5. I thought it would be easy way up since I see children hiking up the trail as well. The first 10 minutes was rather easy - there are 2 ways up at different intervals, you can either go up the steps which are rather steep but takes shorter time or you can take a longer route. It took us 30 minutes to get to No. 3 but it was rather exhausting. Thank goodness I’ve been having cardio exercise every Wednesday which I’m sure helped quite a lot. At No. 3 there are 2 ready pots of tea and water and a big can of biscuits.  I hear that there is even char bee hoon (fried noodles) at No. 5.  All these are free for hikers and you can even contribute to the beverage fund if you like. You can sip a cup of tea and enjoy the clear view of downtown Pulau Tikus.

This has been a very bad week for me.  Burnt 50% in Natural Gas.  It was trading at a resistence $12.07 and the 6 monthly support indicates a price as low as $11.45.  I didn’t believe it will go to such low level and held on to it.  In the end I panicked when it went down so fast.  I couldn’t control myself and sold at a huge loss at $11.60 which translates to a loss of $5000.  How can I allow this to happen?  I have so little and so much to lose and this time I really loss BIG.

What’s my next move?  At this point of time, I think I’m too emotional to make any radical moves.  I’ll have to calm myself down first before I start all over again.

It’s tormenting!

I believe that almost everyone has a namecard, but how many people really take the design of namecards seriously?

Today, Michael went to see a customer in Bukit Mertajam and was introduced to a fengshui master there.  She asked to look at his namecard and also have his birthdate.  After some calculations, she arrived at the conclusion that Michael is under the influence of fire, and that gold colour would be the best colour for the company name in the namecard.  She also advised the arrangements of logo and name, giving emphasis on the leeway for incoming business.

It seems that a reputable fengshui master in KL charges RM4000 just for 1000 copies of such fengshui namecards.  That is how serious some people are about the influence of fengshui in their namecards.  Would you pay such money for 1000 copies of your namecards?

I’ve closed all trades on Friday. May be silly of me to close the Natural Gas and Soybean trades since it’s on an uptrend, but I’ll just be contended for now over the weekend and plan for my trades on Monday.

Total gains for this week = $2937.00

• e-Mini Natural Gas = $1237.50
• Soybean = $ 350.00
• YMM = $ 135.00
• Soybean = $ 512.50
• Soybean = $ 412.50
• Natural Gas = $ 290.00 (my heart nearly jumped out when I keyed in the trade for Natural Gas instead of the e-mini Natural Gas which is 4 times smaller)

Ruins of the Sichuan Earthquake that struck on 12 May 2008

Parents mourning for their children who were killed when their schools collapsed. The surviving girl turning away from the grief of looking at the photos of her friends who were killed.

The Chinese Government has said that there are currently more than 80,000 people either dead or missing in China’s worst earthquake in three decades whilst searchers are still digging out hundreds of bodies and hauling them to mass graves. The Chinese Government has accepted international relief help, unlike the Myanmar Government who rejected outside help in the recent Cyclone that struck Myanmar and left 133,000 people either dead or missing on 2 May 2008.

Today, I’ve finally gave in and enrolled my son for tuition in his Chinese Mandarin Language and Mandarin Mathematics. It has been 5 months since the beginning of Standard One and it’s getting tougher without someone to guide him in Mandarin. Since enrolling him into a Chinese medium school, I had anticipated problems with his Mandarin related studies, but had hoped that he will catch up with it after a few months.

It’s not easy - it’s a difficult language to conquer - but being a chinese, of course I would like my son to know the language well. I’ve spent a long time thinking of whether to enroll him into a national school or a chinese medium school, and the latter won not because I am a chinese, but because Mandarin is still very widely used in the business world, not forgetting that China is also the major economy in Asia for years to come.

Children of other races are beginning to enroll into chinese medium school, so why can’t we being chinese ourselves, learn the language?

I have all along opposed to tuition for children at such young age. I see other parents ferrying their children from tuition to ballet to art lessons, etc. and I pity the children who are pressured this way. I remember being a child and having time to run about, climb trees, and having fun being a kid. Kids nowadays mature too fast and are too house-bound.

But I’ve come to accept the fact that we need help of a professional as a proper guidance is going to help him cope with his Mandarin studies and to set his foundation. This tuition fees cannot be saved.