(Photo: SGGP)

Sai Gon Giai Phong Daily spoke with Nguyen Son, head of the Market Development Department about a recent announcement that beginning in December, securities firms will have to stop authorizing customers to sell or borrow before the T+4 trade settlement, where T denotes the transaction date.

Mr. Son said he considers this measure an effective solution to correct recent market infringements and ensure equality between firms and customers.

SGGP: Could you please explain why this correction hasn’t been implemented earlier?

Mr. Nguyen Son: After a periodic inspection, the State Securities Commission (SSC) found some securities firms were allowing their customers to sell holdings earlier than the standard settlement time, which is against the Securities Law.

Earlier, the commission warned firms to obey the law and continue to check T+ transactions. It has now ordered securities firms to stop such violations while waiting for the Ministry of Finance to issue new instructions for stock transactions.

It will investigate the infringements and report to the ministry to decide on a solution.

Obviously, there is a need to reduce trade settlement times. Do you think that it’s time to apply a shorter trade settlement on Vietnam’s stock market?

The SSC drafted a circular for transaction instructions, which allows investors to open many trading accounts and buy or sell same stock the same day. It also gives investors permission to sell the shares they bought on day T+2 and T+3 which means immediately after the Vietnam Securities Depository (VSD) cross-checks with market members.

The circular has been presented to the ministry for consideration. It will be applied at the beginning of next year if the ministry approves it.
 
Which requirements do you think Vietnam’s stock market needs to reduce trade settlement times?

The settlement currently finishes at 3pm on day T+3. Investors will receive shares and money in the morning when the trade settlement is reduced.

Technology plays an important role in reducing payment of stock transactions. The VSD has set up a new system and tested it. It plans to use this system by the end of the year. However, reducing the settlement not only requires effort from the VSD but also from market members.

Thank you!

Bookmark & Share

(CFD.net.au – Contract for Difference, Share, Forex, ETFs, Commodities Traders) –

Oct. 21 (Bloomberg) — Pakistan closed schools nationwide for five days after suicide bombers struck a university in the capital, a step that may further erode public tolerance for the country’s Islamic militant movement.

“Educational institutions under the federal government are are all closed” following the bombings that killed five people at the

International Islamic University

in Islamabad, said Atiq-ur- Rehman, a spokesman for the

Education Ministry

. Schools and colleges run by provincial administrations and private institutions “have independently taken the decision” not to open, he said in a phone interview.

While no group has claimed responsibility for the university attack, “the closing of schools is very big in drawing public attention to the costs we Pakistanis are paying because of the militants,” said Saifullah

Khan Mehsud

, a political analyst at an Islamabad think-tank.

“This is the first time that all of Pakistan’s people are being so directly affected” by a terrorist attack, said Khan, whose FATA Research Center studies Pakistan’s Federally Administered Tribal Areas, the Taliban’s stronghold.

About 81 percent of Pakistanis surveyed in May said the Taliban and other Islamic militants are a critical threat to Pakistan, up from 34 percent in late 2007, said a

poll published

by the University of Maryland’s

Program on International Policy Attitudes

. “The tactics and undemocratic bent of militant Groups” have “turned Pakistanis against them,” said Clay Ramsay, the poll’s research director, in a statement published with the survey in July.

twin blasts

The Islamabad university attack came as the army pressed its largest offensive against Taliban militants in the tribal zone, adjacent to the Afghan border. Pakistan is in a “state of war,” Interior Minister

Rehman Malik

said as he visited students wounded in the bombing, the official Associated Press of Pakistan reported.

The benchmark

Karachi Stock Exchange 100 Index

sank 321.28, or 3.4 percent, to 9,247.78. The gauge was the biggest loser among 90 major global Indexes tracked by Bloomberg as concerns grew militants may launch more attacks as the army continues its offensive.

While Islamic extremists have bombed many foreign and Pakistani institutions in recent years, yesterday’s attack was the first at a major university amid the jihadists’ battle with the state. The sprawling government-run university has 18,000 students, 1,500 of them foreign.

Mehsud Group

The bombings targeted a cafeteria used by women students and a men’s hostel, Islamabad’s chief of police,

Bin Yamin

, said in an interview. The twin blasts, which came within minutes of each other, killed three women and two men, APP reported.

The bombing comes after months in which “the Taliban have been shooting themselves in the foot,” FATA Research’s Mehsud said, notably with attacks that have killed civilians in public places. A car bombing in a main bazaar of the northwestern city of Peshawar killed more than 50 people on Oct. 9.

As many as 28,000 soldiers in three columns entered the mountainous jihadist stronghold of South Waziristan at the weekend after seven terrorist attacks in a week killed about 150 people.

They are seeking to destroy the Taliban faction that was led by

Baitullah Mehsud

until his death in a U.S. missile strike in August. Pakistan blames the group for 80 percent of terrorist attacks in the country and the army offensive has triggered concern of retaliatory bombings.

Journalists Barred

The army said today in a statement it had killed 15 militants in South Waziristan in the past 24 hours, while three soldiers died. Troops were involved in an “intense encounter” around the town of Kotkai, home to top Taliban commanders, it said. Accounts of fighting can’t be confirmed as foreigners are banned from tribal areas and local reporters have been forced out by the government and Taliban.

U.S. Defense Secretary

Robert Gates

said he is “encouraged” by the army offensive in a region the Taliban used as a base to attack American troops across the border in Afghanistan.

“The terrorist attacks that have been launched inside Pakistan in recent days made clear the need to begin to deal with this problem,” Gates told reporters yesterday en route to meetings in Tokyo. “We obviously are very supportive of what the Pakistanis are doing. But it’s very early yet.”

The Waziristan offensive is Pakistan’s biggest against the Taliban and its allies, who have mounted increasing attacks on government targets since mid-2007 including this month’s assault on the army’s headquarters. The military has said it expects to complete the offensive in six to eight weeks.

To contact the reporters on this story:

Khalid Qayum

in Islamabad at

kqayum@bloomberg.net

;

Ed Johnson

in Sydney at

ejohnson28@bloomberg.net

.

Last Updated: October 21, 2009 07:15 EDT

Source: Pakistan Closes Schools, Colleges After Twin Bombings (Update2)

Die Petra hat mir nen Stock vor die Birne geballert…
Ok…

3 Dinge:

…die Dich anturnen?
Eine nicht triefende Nase…
Menschen die sich nicht verstellen…
Das andere verrat ich jetzt nicht..hehe…

…die Dich abturnen?
Dicke grosse Spinnen mit behaarten Beinen..( sorry Buck..ich kann da nix für )
Schilder wo drauf steht… do not turn…
Brummifahrer die zu blöd zum rangieren sind…

…die möglicherweise alles bedeuten?
Niemals in Dauerdepressionen zu versumpfen.. .( klappt auch super )
Alles was mir nah ist und kommt…
Lösungen zu finden jeglicher Art…(muss wohl an meinem Job liegen )

…die Dir wichtig sind?
Gesundheit..
mehr sag ich jetzt nicht..sonst motzt wieder jemand..ey..falsche Reihenfolge..oder warum bin ich nicht
dabei usw usw usw…

…die Du wegwerfen würdest?
ne Triefnase…
so einige Personen die mein Leben durchlatschten…
Ballast allgemein…

…die Du auf der Straße aufgehoben hast?
Geld…
Motorräder…
mich…

…die Du immer zu Hause hast?
Kaffee…
Kippen…
Klo…

…nach denen Du süchtig bist?
Nikotin…
Koffein…
Harmonie…

An impromptu dinner party this evening, and not a lot on hand. But, as Jill Dupleix says, “having stock in your freezer is the very definition of social security,” and there is some vegetable stock in the freezer, and a butternut squash in the cupboard. Since it’s unlikely that I’ll need to turn the squash into a coach for an incognito appearance at the Prince’s Ball, I decided to make risotto instead.

Firstly, the squash gets cut in half, seeds scooped out, and then scored deeply, but not so deeply as to break the skin. Some salt, pepper and a few pieces of butter, and into the oven at 180C for an hour.

Now, after half an hour, I checked and ooops, I’d put too much butter on, and it was starting to escape the baking tray. I poured some off, but since there was still plenty in the hollows, so I popped a gently squished clove of garlic in each, and returned to the oven.

Check whether it’s done by prodding with a skewer and making sure all the bits are soft. Don’t worry if there are a few burnt bits. Place the squash to one side, and allow to cool. This can be done earlier in the day, if convenient.

The risotto is a standard, by-the-numbers affair. One onion, 250g Arborio rice, butter, olive oil, stock, yada yada yada. I’ll write detailed instructions later on, if only to assuage the anxieties of Julian Barnes.

Whilst you’re doing the risotto, peel the cold roasted squash, and cut into half inch chunks. It will practically fall to pieces anyway, along the lines you scored earlier. The skin should slip off, but might need coaxing here and there. You can do this earlier if you don’t believe you can leave a risotto unattended for more than thirty seconds. (You can, but never leave the room.)

Once the risotto is at the resting phase, pop the squash in, pop the lid back on and leave for five minutes. Then stir very gently, so as not to break up the squash. There will inevitably be a few casualties, but they’ll just ooze some orange juice into the dish, which looks nice.

Pass the Parmesan.

The profiterôles afterwards were bought from the shop, but the chocolate and Armagnac sauce was homemade. No, I can’t remember precisely how I did it; I was drunk at the time. (Don’t try that yourself.)

What do you do when you have a carcass from a chicken, turkey and duck? Make turduken stock of course! There will be plenty for use in cooking and enough left to reduce down into soup broth.

First blog (Oh God I hear you cry, should I even carry on reading). Just getting a feel for the format of the site. and to give a brief introduction as to the nature of what I shall be blogging about.
I hope you will see it as a journey of discovery and (hopefully) excitement.

I have been share trading for 1 year now and I will give you more background information as to how and why in time.
I plan to list the companies I hold shares in and give an update as to how well or bad I am doing in each.

So starting tomorrow, 30 November you may join me and even share your thoughts to my trading decisions.

1.Greife das Buch, welches Dir am nächsten ist, schlage Seite 18 auf und zitiere Zeile 4.
“Er hätte gern mit jemanden über den Mann im Park geredet”

2.Strecke Deinen linken Arm so weit wie möglich aus. Was hältst du in der Hand?
Ein Päckchen Taschentücher

3.Was hast Du als letztes im Fernsehen gesehen?
Einen Interviewausschnitt mit der zukünftigen Familienminsterin

4.Mit Ausnahme des Computers: Was kannst Du gerade hören?
Silversun Pickups- Panic Switch, vllt.das Gebläse der Heizung noch?

Wann hast Du den letzten Schritt nach draußen getan?
ca. vor 30min. um zu schauen, ob der Stecker der Außenlichterkette, im Steckdosenpilz unter dem Baum, richtig eingesteckt ist..

5.Was hast Du gerade getan, bevor Du diesen Fragebogen begonnen hast?
Telefoniert

6.Was hast Du gerade an?
Graue Jogginghose, weisses T-Shirt mit der Aufschrift Lazy Days, hellblaue Socken mit farbigen Ringeln in Knöchelhöhe (Hummel,Esprit, S.Oliver)

7.Hast Du letzte Nacht geträumt?
Glaube schon, kann mich an nichts konkretes erinnern, werde aber tagsüber durch Sekundenreize dunkel daran, an  Träume erinnert.

8.Wann hast Du zum letzten Mal gelacht?
Heute

9.Was befindet sich an den Wänden des Raumes, in dem Du dich gerade befindest?
3 Bilder, 2 Collagen, 2 Kalender und ein Zertifikat

(CFD.net.au – Contract for Difference, Share, Forex, ETFs, Commodities Traders) –

Oct. 21 (Bloomberg) — The

Securities and Exchange Commission

took a step that may halt expansion of the fastest- growing stock networks in the U.S. with rules to improve transparency in so-called dark pools.

SEC commissioners today voted to propose lowering to 0.25 percent from 5 percent the daily

volume

in a company’s shares that can be executed on the systems before quotes must be made public. dark pools are off-exchange platforms that Investors use to avoid revealing who they are and what they are trading.

U.S. Senators

Charles Schumer

of New York and

Ted Kaufman

of Delaware, both Democrats, are urging regulators to crack down on practices they say create an unfair advantage for the biggest Investors. Regulators proposed banning so-called flash trades, in which some Investors get a half-second glimpse at share orders before the public, last month.

“Although dark liquidity always has existed in one form or another in the equity markets, the commission must assure that the public markets and non-public trading venues operate within a balanced regulatory framework,” SEC Chairman

Mary Schapiro

said at a commission meeting in Washington. “This means that as markets evolve, the commission must continually seek to preserve the essential role of the public markets in promoting efficient price discovery and investor confidence.”

The proposal is the latest sign the SEC is toughening oversight of strategies spurred by the growth of alternative Exchanges and advances in technology. dark pools are sometimes used by so-called high-frequency traders, brokerages that execute thousands of orders in a SECond to profit from tiny price gaps.

‘Take Money Out’

“It will initially take money out of many dark pools’ pockets,” said

Matthew Samelson

, the Stamford, Connecticut- based founder of market research firm

Woodbine Associates Inc.

“They’re either going to have to adjust their pricing to be more competitive with the current displayed markets or that flow’s going” elsewhere, he said.

Trading on dark pools such as Zurich-based Credit Suisse Group AG’s Crossfinder and New York-based

Goldman Sachs Group Inc.

’s Sigma X, the two largest, has more than quadrupled to 9.4 percent of all U.S. equity volume in three years, according to

Tabb Group LLC

, a New York-based financial-services consultant.

Under the SEC plan, dark pools will have to publicly report quotes once they handle 0.25 percent of a Stock’s daily average volume. The electronic networks usually shut down trading in a security when they approach the existing 5 percent limit.

The agency decided against a 1 percent or 2 percent limit because that would still allow “game playing” in which dark pools would shut down trading once they got close to the threshold, said Michael Gaw, an assistant director in the SEC’s division of trading and markets. Dark pools wouldn’t be able to get around a 0.25 percent requirement, Gaw said.

Market Share

NYSE Euronext

and Nasdaq OMX Group Inc., operators of the biggest U.S. Stock Exchanges, may benefit from the rule change, according to Woodbine’s Samelson. Both have lost Market Share as investors shifted to newer venues.

The

New York Stock Exchange

handled 28 percent of all U.S. equity trading in September, while Nasdaq processed 22.7 percent. Their combined share has fallen to 50.7 percent from 74.1 percent in March 2006.

The SEC will exempt block trades, or orders exceeding $200,000, from the new rule. Firms specializing in blocks account for 8 percent of all dark-pool trading in the U.S., according to data compiled by Aite Group LLC, a financial- services consultant in Boston.

Transactions are biggest at New York-based Liquidnet Holdings Inc. and Pipeline Trading Systems LLC, where orders average 50,000 shares. That compares with 300 to 450 shares at venues such as Getco Execution Services, run by Chicago-based Getco LLC.

Small Investors

Dark pools reduce costs and benefit small investors by letting mutual funds buy and sell securities in private, Goldman Sachs said in a

statement

posted on its Web site yesterday.

“Institutional investors can improve their trading performance by executing in an anonymous manner that diminishes their footprint,” according to Goldman Sachs, the most- profitable securities firm in history. “In doing so, the clients of these institutional investors, for example mutual funds and pension funds where the bulk of small investors have their money invested, are direct beneficiaries.”

Growth of the networks is hurting traditional markets, which face more regulation, the

World Federation of Exchanges

said in a letter last month to

Mario Draghi

, chairman of the financial-stability board of the Basel-based Bank for International Settlements.

“The more the dark pools exist without any comprehensive regulation, the more you’re going to see liquidity siphon off from exchange markets,”

William Brodsky

, the chief executive officer of the Chicago Board Options Exchange and chairman of the WFE, said at a conference in Vancouver on Oct. 7.

The new SEC threshold may push smaller orders off of dark pools and onto exchanges, analysts said.

“If you were to limit the dark pools to that small amount of trading, it will be much harder to find a counterparty,” said

Dirk Hoffmann-Becking

, a London-based analyst for Sanford C. Bernstein & Co. For stock exchanges, “if they would see less competition from the dark pool world, that would certainly be a positive for them.”

To contact the reporters on this story:

Jesse Westbrook

in Washington at

jwestbrook1@bloomberg.net

;

Whitney Kisling

in New York at

wkisling@bloomberg.net

.

Last Updated: October 21, 2009 11:13 EDT

Source: Dark Pools Face SEC Restraints Curbing Fastest-Growing Markets

(CFD.net.au – Contract for Difference, Share, Forex, ETFs, Commodities Traders) –

By Christine Harper

Third-quarter

earnings

fell to $757 million, or 38 cents a share, from $7.7 billion, or $6.97, a year earlier, the New York-based company said today in a statement. The average estimate of 21 analysts surveyed by Bloomberg was for earnings per share of 30 cents.

Chairman and Chief Executive Officer

John Mack

, who plans to hand off his CEO duties to Co-President

James Gorman

at the end of the year, increased risk-taking after profit in the first half of 2009 fell short of competitors including

Goldman Sachs Group Inc.

Value-at-Risk, a measure of how much the bank estimates it could lose in a single day of trading, climbed to $118 million, the highest level in at least seven quarters.

“This puts them back on the winning side,”

Gary Townsend

, Chief Executive Officer of Hill-Townsend Capital LLC, said in a Bloomberg Television interview. “If we are moving into an economic expansion, it seems to me that they have been risk- averse and can afford to take additional risk as markets calm.”

Morgan Stanley, which had reported per-share losses for three straight quarters before today, rose $1.63, or 5 percent, to $34.15 at 9:40 a.m. in New York Stock Exchange composite trading. The Stock, which has more than doubled this year, is still below where it traded in September 2008 before Lehman Brothers Holdings Inc. went bankrupt.

Goldman’s Profit

Goldman Sachs, Morgan Stanley’s larger rival, last week said third-quarter

profit

more than tripled to $3.19 billion, on trading gains and investments with the firm’s own money. Goldman’s value at risk for the period was $208 million, down from a record $245 million in the second quarter.

Wells Fargo & Co., the nation’s biggest home lender, posted a record third-quarter profit today by limiting loan defaults and wringing savings out of its Wachovia Corp. acquisition.

JPMorgan Chase & Co.

, the second-biggest U.S. bank by assets, last week reported a surge in profit to $3.59 billion that was driven by gains at the investment bank.

Bank of America Corp.

, the biggest U.S. lender, said it lost $1 billion in the quarter, while

Citigroup Inc.

, the No. 3 bank, reported a $101 million profit.

“Bread-and-butter banking is still kind of unclear, but capital markets seems to be relatively strong,” said

Kenneth Crawford

, a senior portfolio manager at Argent Capital Management LLC in St. Louis, which oversees about $800 million and doesn’t own Morgan Stanley Stock.

Book Value

Revenue

at Morgan Stanley fell to $8.7 billion from $18 billion a year earlier. Book value per share declined to $27.05 from $27.21 at the end of June. The firm’s return on equity, a measure of how well it reinvests earnings, was 5.8 percent.

Morgan Stanley set aside $10.9 billion for compensation and benefits in the first nine months of the year, or 64 percent of revenue. The number of

employees

at the company surged earlier this year because Morgan Stanley took control of a brokerage joint venture with Citigroup’s Smith Barney unit.

Institutional securities, which includes the trading and

investment-banking businesses

, posted a pretax profit of $1.3 billion on revenue of $5 billion. The division had reported three consecutive quarterly losses before today.

“Our investment-banking business delivered particularly strong results,” Mack, 64, said in the statement. “Although we still have work to do in sales and trading, it offers our single biggest opportunity for growth.”

Fixed Income

Morgan Stanley’s revenue from fixed-income trading was $2.1 billion in the quarter, which included a $600 million charge because the tightening of Morgan Stanley’s credit spreads increased the value of its liabilities. Goldman Sachs’s fixed- income revenue totaled $5.99 billion in the quarter, while JPMorgan made $5 billion.

In equities trading, Morgan Stanley’s $1.1 billion of third-quarter revenue included a $200 million charge for credit- spread tightening. The unit’s revenue compares with $2.78 billion at Goldman Sachs and $941 million at JPMorgan.

“Market stability is a necessary precondition to investing in the markets and applying capital, and we certainly seem to be getting a more stable market,”

Colm Kelleher

, Morgan Stanley’s chief financial officer, said in an interview today. “We’ve hired a lot of people this year. We expect that the benefits of that will kick in in 2010.”

M&A Business

Morgan Stanley is the top adviser on mergers and acquisitions announced so far this year, the first time the firm has outmatched Goldman Sachs in that category since 2000, according to data compiled by Bloomberg. Advisory revenue, which includes fees for counseling companies on takeovers, dropped 44 percent to $279 million in the quarter. Revenue from equity underwriting more than doubled to $457 million, while debt underwriting climbed 25 percent to $303 million.

Global wealth management, the retail brokerage division that owns 51 percent of Morgan Stanley Smith Barney, recorded a pretax profit of $280 million on $3 billion of revenue.

Asset-management revenue rose to $698 million, resulting in a pretax loss of $356 million. Morgan Stanley agreed this week to sell its retail investment-management business, including the Van Kampen funds acquired in 1996, to Invesco Ltd. for $1.5 billion in cash and stock, giving the bank a 9.4 percent stake in Atlanta-based Invesco.

Kelleher said the pretax gain from selling the business will total about $1 billion, depending on where the share prices are when the transaction is finalized in the middle of next year.

The deal will leave Morgan Stanley’s fund unit to focus on managing hedge funds, funds of funds, real estate, private equity and infrastructure funds, as well as long-only funds managed for institutional clients.

“We think this is the right move” for Morgan Stanley,

Glenn Schorr

, an analyst at UBS AG in New York, wrote in a note to investors. Schorr said a focus on institutional asset management and the rest of the franchise is the “best use” of management’s time.

To contact the reporter on this story:

Christine Harper

in New York at

charper@bloomberg.net

.

Last Updated: October 21, 2009 09:41 EDT

Source: Morgan Stanley Beats Estimates as Risk-Taking Boosts Revenue

(CFD.net.au – Contract for Difference, Share, Forex, ETFs, Commodities Traders) –

By Elizabeth Stanton

Yahoo, the owner of the No. 2 U.S. search engine, rose 4.5 percent after

earnings

were helped by increased spending from some advertisers. Morgan Stanley rallied after reporting its first profit in a year.

SanDisk Corp.

, the biggest maker of flash-memory cards used in digital cameras and mobile phones, jumped 10 percent after its sales forecast topped estimates.

“Companies prepared investors for very mediocre results,” said

Robert Lutts

, president of Cabot Money Management in Boston, which manages $450 million. “They lowered the bar very low and now are jumping over those bars.”

The

Standard & Poor’s 500 Index

added 0.6 percent to 1,097.28 at 11:17 a.m. in New York and earlier climbed above its highest close of the year. The

Dow Jones Industrial Average

increased 39.98 points, or 0.4 percent, to 10,081.46. About three Stocks advanced for each that fell on the New York Stock Exchange.

The

S&P 500

has rallied 62 percent from a 12-year low in March as the government lent, spent or guaranteed $11.6 trillion to combat the worst U.S. recession since the 1930s. The rebound left the benchmark index trading at about 20.6 times the reported Earnings of its companies, the highest since 2004.

Earnings Season

Profit has topped estimates at 76 percent of the S&P 500 companies that have posted third-quarter results, including Google Inc.,

JPMorgan Chase & Co.

and DuPont Co. More than 130 S&P 500 companies are reporting this week.

Yahoo rose 4.5 percent to $17.95. Third-quarter

profit

excluding some expenses was 15 cents a share, beating the average prediction of 13 cents by analysts in a Bloomberg survey. Sales, excluding fees passed on to partner sites, were $1.13 billion, exceeding projections.

SanDisk Corp.

soared 10 percent to $23.63. The biggest maker of flash-memory cards used in digital cameras and mobile phones forecast fourth-quarter sales that beat analysts’ estimates as chip prices rebounded.

Apple Inc., maker of the iPhone mobile phone, iPod music players and MacIntosh computers, rose 3.1 percent to a record $204.91 and contributed most to the S&P 500’s advance.

Morgan Stanley Jumps

Morgan Stanley rallied 6.5 percent to $34.63. The sixth- largest U.S. bank by assets reported its first profit in a year, surpassing analysts’ estimates on higher investment-banking fees. Third-quarter Earnings were $757 million, or 38 cents a share. The average estimate of 21 analysts was for profit of 30 cents a share.

U.S. Bancorp climbed 6.7 percent to $25.38. The Minneapolis-based lender that has expanded during the financial crisis said third-quarter profit rose 4.7 percent on higher net interest margins and fees from mortgage banking and transactions at automated teller machines.

SLM Corp. soared 19 percent to $10.61 for the biggest advance in the S&P 500. The largest U.S. student loan company reported its first profit in more than a year.

Treasury Secretary

Timothy Geithner

said the bank capital- purchase program in the $700 billion bailout will be allowed to expire later this year because parts of the economy and markets are stabilizing, Reuters reported, citing an interview.

“We are now at the point where we can begin to wind down the programs that really defined TARP in its initial stages,” Reuters quoted Geithner as saying in the interview today, referring to the Troubled Asset Relief Program.

Boeing Slumps

Boeing Co., the second-largest maker of commercial aircraft, fell 1.1 percent to $51.34 after Booking $3.5 billion in charges for the delayed 787 Dreamliner and 747-8 jumbo jet programs. Its largest-ever net loss of $1.56 billion, or $2.23 a share, exceeded the $2.10-a-share average estimate of 18 analysts in a survey.

Per-share Earnings for the 97 companies in the S&P 500 that released third-quarter results since Oct. 7 were down 11 percent from the year-earlier period. Per-share profit fell in each of the past eight quarters, a record streak of declines that analysts expect to end in the current quarter.

The Dollar Index, which gauges the U.S. currency against a basket of six trading partners, Slumped 0.5 percent to a 14- month low. The pound and the New Zealand dollar rose after central bankers signaled interest rates may increase. The U.K. currency climbed 1.4 percent against the dollar and the New Zealand dollar strengthened 0.6 percent.

Bank of England Governor

Mervyn King

started preparing Britons for higher interest rates, writing in the Herald newspaper of Scotland that “it would be wise to take account” of the prospect of rising borrowing costs. Reserve Bank of New Zealand Governor Alan Bollard said a strengthening currency isn’t an obstacle to raising rates. Australia last week became the first Group of 20 nation to lift its benchmark rate since the start of the global financial crisis.

The Fed will issue its Beige Book report on regional economies, which policy makers will use to gauge the state of the housing market and the overall economy when they meet in the first week of November, at 2 p.m. in Washington today.

To contact the reporters on this story:

Elizabeth Stanton

in New York at

estanton@bloomberg.net

.

Last Updated: October 21, 2009 11:19 EDT

Source: U.S. Stocks Rise on Yahoo, Morgan Stanley Results; Dollar Falls

I had writen in http://jerrytechnicals.blogspot.com/2009/11/technical-analysis-dow-jones-djia.html

that 10420 to 10500 will be supply zone for dow as per charts. See where dow reversed from

For Dow short term trend to move to positive now, a close above fibonacci resitance zone of 10569 is absolutely

essential. Will the bulls be able to pull that one off ?? Only time will reveal.

For now Dow looks all set to attain logical targets of 10105, 9773 and 9845 in the coming week.

As mentioned earlier, only a close above 10569 will turn the short trend back to positive for dow.

Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry’s view on stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.

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This is based on a dish I used to have at a restaurant in Tokyo and loved!  You don’t technically have to serve it in the foil parcels as I have but it does give the meat time to take up a little of the flavour of the sauce and you can get on with other things while you leave them in the oven so it’s a good prep ahead then pop it in the oven meal.  This was usually served with a baked potato but I chose to have chips tonight as I was in the mood.  I’ve also had the burger wrapped in bacon and served with a different sauce or may be no sauce but I can’t for the life of me remember!  I’m working on it. 

This is a good basic hamburger recipe too and I’m sure would make an excellent burger in a bun on its own.  I love Japanese  style Western food.  So often they take a staple Western food and do wonderful things with it that we would never have thought to do because we’re so used to doing something particular.  Although I am informed that this is similar to a Salisbury Steak in America.  What I do know is it’s delicious!

I’m dying of cold at the moment so if anything doesn’t make sense here drop me a line and I’ll fix in once I am able to breathe and think again!

Makes 6

For the burger:
1 small onion, finely chopped
500g minced beef
200g sausage meat
100g breadcrumbs
1 egg
1/2 tsp ground or freshly grated nutmeg
pepper to taste

For the sauce:
150g baby button mushrooms, sliced
red wine*
1 beef stock cube made up into stock*
3 tbsp ketchup
corn flour

- First lightly fry the onion in a little oil until soft.  Allow to cool a little. 
- Put everything in a bowl and mix it together with your hand. 
- Divide the mixture roughly into 6. 
- Gather a portion of the meat in your hand.  Roll into a ball then throw the ball forcefully back and forth in your hands to force out the air and flatten it into a patty. 
- Gently shape the patty to a circle and create a small hollow so the patty is thinner in the middle.  (This allows you to get a flat burger as it compensates for any swelling during cooking.)
- Place the patties on a large plate or chopping board and chill in the fridge for at least 30 minutes, preferably about an hour. 

- Melt a small knob of butter in a frying pan and fry the mushrooms until just browning.  Set aside. 
- Sprinkle the burgers with a pinch of salt and prepare the foil sheets. 
- Fry the burgers in a large frying pan or griddle.  Give about 4 minutes each side.  Don’t move the burger about once you’ve placed it in the pan until it’s time to turn it or it will fall apart. 
- Place the burger in the centre of the sheet of foil and top with a spoonful of mushrooms. 

- Deglaze the pan with red wine (tip it in and scrape off any cooked on bits). 
- Add the stock and reduce until starting to thicken. 
- Add the ketchup and stir in continue to reduce. 
- If necessary add a little cornflour slaked in a little water to thicken the sauce.  It needs to be quite viscous slow moving. (Make sure to taste the sauce as it can need a little more ketchup to cut the saltiness of the stock cube.) 
- Pour a little sauce over each burger.

- Fold the foil up into a tent and fold together the edges to seal.  Then fold in the sides to seal those. 

- Place the parcels on a baking tray and place in the oven at around gas mark 5 for 10-15 minutes until everything is piping hot again.  (If preparing ahead cook for around 30 minutes to ensure food is piping hot all through.)
- When you’re ready simply put the parcel on a plate to serve. 

* I only cooked sauce for 1 tonight so I can’t speak as to actual quantities.  I just poured!

The weather is getting cold and it couldn’t be a better time for my bi-annual batch of Turkey Chili. Each time, it’s delicious in its own way, but this round may be my best to date! It was smoky & spicy with a hearty texture from the mix of Ground Turkey & Turkey Kielbasa. I topped it with shredded Cheddar and Sour Cream and paired it with Egg Noodles for leftovers.

Chipotle Turkey Chili w/ Cheddar & Sour Cream

Chipotle Turkey Chili

• Turkey Kielbasa - (1) package cut into half moons
• 85/15 Ground Turkey – (2)lbs, browned & drained
• Chili Mix – 1/2 packet of Hot, Medium, 0r Mild
• Sriracha – a few squirts
• White Onion – (2) medium, chopped
• Garlic - (2) T, minced
• Crushed Tomatoes – (1) large can
• Chicken Stock – (1) can, low-sodium
• Black Beans – (1) small can
• Chipotles in Adobo Sauce – (2) peppers from can, chopped
• Worcestershire Sauce – (4) heavy dashes
• Dried Parsley – (1) T

1. Brown the Ground Turkey in an oiled pan. Saute onion in same pan with a tablespoon of butter until translucent.
2. Combine all ingredients in a Crock-Pot or Dutch Oven.
3. Cook on LOW 3-5hours or HIGH 6-8 hours, stirring occasionally until you can’t resist a bowl!
4. Yes, it’s that easy!

For years I have been trying to photograph the famous Leonids Meteor shower. Usually the weather forecast is cloudy and no opportunity presents itself.

This year, the weather forecast was clear and I headed up for a cold vigil at Nagarkot, along with some Nepali amateur astronomers and a few colleagues.

It was 3AM when the constellation of Leo appeared over the northern Himalayan horizon and as we got our cameras ready, a thick, dense freezing fog descended upon us and did not clear until 5AM, by which time, dawn was a-coming and there were few meteors to be seen.

However, I did get some nice shots of the brown haze pollution (a contributing cause of the demise of the great Himalayan glaciers along with climate change) and of course, the high Himalayan view which Nagarkot is famous for.

Until the fog came, I was impressed by Nagarkot’s dark sky and I would recommend this viewpoint for those visiting Nepal with an interest in astronomy (bit easier to lug your telescope up there than the high Himalayal!) and hope that the government may recognise it and create a dark sky park.

HD stock footage of the mountains and brown haze pollution can be seen on clipcanvas.com (using the key words Lightroom Productions) and photos on the database at http://pa.phtooshelter.com/c/lightroom/

When Nick went to the butcher on Thursday to pick up our Thanksgiving turkey, he was met with an unpleasant surprise.  The 4-kilo turkey I had ordered was actually 5.4 kilos!  After some debate and bargaining with the butcher, it came out that that was the smallest bird they had received that day, and they had indeed reserved it for me.  A three-pound difference might not sound like a big deal, but when the bird costs 6 euros 50 a kilo, and we were already unsure if a whole turkey would fit into our tiny oven, and it was already 3pm on Thanksgiving Day, it felt disastrous.

After some oven reconfiguration, we managed to get the turkey in without it touching the heating element, and it roasted up beautifully – since turkey isn’t the commodity in France that it is in the US, the ones you get here are never frozen or wrapped in plastic.  The air-dried skin browns and crisps like no other turkey I’ve made, and the flavor, like that of French chickens, is somehow just more.  The menu went off just as planned, except in lieu of the brittle I served the potimarron pie with bourbon-maple whipped cream.

We were joined by five friends, and actually have very few leftovers (one scoop of mashed potatoes, one spoonful of Brussels sprouts, one sliver of pie…) except for the turkey, of which about two and a half pounds remain.  Having spent 35 euros – that’s right, upwards of 50 bucks – we don’t want to let a single scrap go to waste.  Yesterday afternoon I made stock from the carcass, after Nick had cleaned it of meat.  Meanwhile, he simmered a piece of kombu in a pot of water in preparation for a very welcome light lunch: turkey miso soup.

If you’ve never made miso soup before, you’re missing out on one of the simplest, fastest, and tastiest soups around.  It’s as easy as whisking a couple of spoonfuls of miso into a pot of hot dashi (the Japanese staple broth made with water, kombu seaweed, and bonito tuna flakes – which we have as yet been unable to find in Paris, so we did without – steeped for about five minutes) and garnishing with a few little pieces of whatever.  It should be brothy.  In this case, we used a bit of shredded turkey and some snipped chives, leftover from the mashed potatoes.  It made a fantastic day-after-Thanksgiving lunch.

But there’s plenty more turkey to be eaten.  As soon as I’m done writing, I plan on heading down to the kitchen and mixing up a big batch of herbed turkey salad: mayo, sage, chives, parsley, maybe a bit of crème fraîche and shallot.  I’ll eat it for lunch on top of some lettuce with a dollop of cranberry sauce, and hopefully there will be enough left to make a couple of weekday sandwiches.

Tonight or tomorrow I’ll put that fresh turkey stock to use in a turkey risotto.  Garnishes will include the rest of the fresh sage, chopped turkey (duh) and grated aged provolone.

So what are you doing with your turkey leftovers?

Originally published on Croque-Camille.

Early Romans used to watch black men (slaves ) murdering each other, as we now watch a foot ball match!

The last man left in the field is honoured and crowned !

The whole arena would be strewn with dead and dying bodies, the ground reddened with innocent blood.

In capitalism, every business man is a gladiator. The innocent share/stock holder is murdered until only the super business magnate is left in the market.

The collapse of DUBAI WORLD is the latest !

Then and now, the word humanity is absent in the lexicon.

Because, I start trade journal.
Stock market was the fear, but FX market is expectation.

 

Dubai Woes to Hit India Hard? "No" Says India's Think Tank

…
Indian policy-makers are not really worried over the potential adverse impact on the country’s economy because of the multi-billion-dollar debt default risk faced by Dubai World, ranked among the largest conglomerates in the region.

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Commerce Minister Anand Sharma said “India is a very large economy. It is a resilient economy”.

“I don’t think some development in real estate in Dubai will have an impact on the Indian economy” he added.

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He also said “As far as India is concerned, the housing, real estate sector and construction industry are all doing well.

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This is confirmed by the increasing demand for construction materials, cement and steel,”

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Finance Secretary Ashok Chawla also saw little impact of the Dubai World’s woes on the country’s economy.

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Though he was a trifle more circumspect and preferred to watch the situation before hazarding a guess.

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“We will have to study what the issue is, what is the problem, what will be the possible implication if any for the Indian economy, the people and corporates,” Chawla told.

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Asked if the crisis will impact money flows into India,since the Gulf region accounts for over half the total inward remittances worth over $25 billion annually from expatriate Indians,

Chawla said: “It’s unlikely.”

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The state-run Dubai World stunned the global financial world Thursday when it announced it would need to restructure its debt, estimated at $59 billion, to preempt default and asked creditors for a six-month deferment.

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The conglomerate, which has a host of companies under its fold, has interests in a wide range of businesses such as realty, infrastructure, logistics and economic zones.

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And that is not just in the region but across a clutch of countries including India.

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Indian equities reacted adversely to the development, with the benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) down as much as 634.16 points, or 3.76 percent, midway into the trading session Friday.

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It later recovered and closed with a loss of some 220 points, or 1.3 percent over the previous close.

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“Indian markets have rallied more than 100 percent from the lows a year ago,mostly backed by news of recovery and not necessarily on fundamentals,”

said Jagannadham Thunuguntla of brokerage firm SMC Capital.

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“This is why such news will have a negative impact on our markets and we will be dragged down,” Thunuguntla, who heads the equities division of SMC Capital told.

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Even some Gulf-based companies, like Emmar, which have business interests in India, said there will be virtually no impact on their ongoing projects in India.

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The response was similar from India’s leading engineering and construction major Larsen and Toubro Ltd, which said its exposure in Dubai was around $20-$25 million.

.

This would also be a good use for leftover turkey after Thanksgiving.  As a matter of fact, that is exactly what this recipe was intended for.  I had made a turkey a few weeks ago when they were 40¢ a lb. and had a lot leftover so I was coming up with all sorts of ways to use it up.  I went grocery shopping today and there were some pretty good deals and no one in the store.  Frozen turkeys were on sale.  This I had expected.  Got another 12 lb turkey for around 5 bucks (39¢ a lb. this time).  They also had some buy 1 get 2 free deals which I had never heard of but indeed that was what happened.  I was so happy with the savings I got tonight; who needs 4 am for good Black Friday deals.  I am not a morning person, in case you didnt know.

This is basically a thick chicken noodle soup but with turkey and orzo instead.  I learned this method from many on Food Network but I switch it up all the time with different pastas, stocks, meats, and veggies.  So what is orzo?  It is rice-shaped pasta.  It is made out of the same stuff spaghetti is, semolina, only they make it into a rice shape.  It is good and usually you dont need as much of it to fill people up.  I use about half as much orzo as I would spaghetti.

• 1-2 cups of cooked chicken or turkey, chopped
• 2 TBSP olive oil
• 1 cup onion, chopped
• 2 tsp minced garlic
• 1/2 cup of celery, chopped
• 2 tsp poultry seasoning (this has things like thyme, rosemary, marjoram)
• 4 cups chicken stock
• 1 16 oz. bag of frozen peas and carrots
• 1/2 box of orzo, about 8 oz.
• salt and pepper

1. In a dutch oven or large pot preheat olive oil over medium high heat.
2. Then add onions, garlic and celery.  After about 7 minutes, the veggies should be soft.
3. Add the poultry seasoning and season with salt and pepper.  Then stir to combine.  Let it cook for about a minute to develop some of those flavors.
4. Add the chicken stock and bring to a boil.
5. Add the orzo and give it a good stir.  Follow the cooking directions on the package for al dente.  Mine was about 7 minutes I think.  The orzo is going to help thicken the soup.
6. Stir in the chicken or turkey and let it cook another few minutes just to heat through and then add the frozen peas and carrots.  This should bring the temp of the soup down considerably and make it easier to eat.  Test for seasonings and re-season with salt and pepper if necessary.

This is a good one pot dish that isnt too difficult.

Turkey Orzo

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PCD Insert ตัวนี้ Volume มหาศาล ใช้เปลืองมาก

ลูกค้าหลักคือ กลุ่มของผู้ผลิต Hard Disk เค้าโตเราโตด้วย  ธุรกิจ hard diskตกต่ำในช่วงปี 2008ถึงต้นปี 2009 ใน Q3 เริ่มกลับมาแล้วถูกโรงงานกลับเดินเกือบ full capacity ของขาดตลาด   

อ้างว่าเป็นเจ้าเดียวในไทย  และคุณภาพเป็นหนึ่งใน South East Asia

พย ธค 09 พึ่งจะซ์้อเครื่องใหม่ 4 เครื่อง

1. Hollow Pin เพิ่มการผลิตตัวเก่า
2. PCD Drill ตัวนี้เจ๊งมาก ตอนนี้ส่งตัวอย่างไป test ที US – Aero Craft
3. Carbine Cutting tool – New product
4. PCD Reamer เสริมของเก่า

• อาจมีการลงทุนเพิ่มในปีหน้า 35 ล้านบาท  จุดคุ้มทุนคือ 2 ปี
• ยอดขายปีหน้า น่าจะ 350 ล้านบาท ++
• ถึงแม้จะซือเครื่องได้ แต่ operate ให้ได้ดี ยาก –> Barrier สูง
• Net margin ของ Q3 22.85/72.31=31.6%
• มีโอกาสในการทำตลาด automobile, air craft
• สัดส่วน 60% Domestic 40% Export

Current Price: 2.84  P/E:11.03  , P/E1= 2.84/0.4 = 7    ซื้อลงทุน assume growth=12%

สามารถดูการ forecast การผลิด  hard disk ได้จาก http://www.t-s-r.co.jp/

The Wall Street Securities has announced its annual scholarships worth VND3-5 million for 52 university students studying finance, banking, and securities.

The scholarship would also be given to students of other faculties in future, a group official said.

This year the scholarships will be awarded at a ceremony organized jointly with the Vietnamese Students ‘ Central Association at the Cultural Friendship Palace in Hanoi on November 29.

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Suggested Starting Equipment:*

1. DSLR camera. Having this immediately will greatly improve your chances of getting it SS & IS
2. Best Glass you can afford. A combination of 18-55, 50  and 55-250 range will get you started.
3. Desktop Computer with the fastest internet connection you can afford: Broadband, Cable etc.
4. Adobe Photoshop
5. External Computer Drives for Storage and Back-Ups. Terrabyte drives have come down to less than $135
6. Large Monitors for your desktop. Larger the better. Be sure and calibrate them.
7. Tripod
8. Extra Batteries for your camera
9. Large CF or SD memory cards for your Camera. Have at least two. Faster the better.
10. External Flash

*If you are on a shoe-string budget it is possible to make substitutions. It is also possible to go without some of these depending on what you shoot. However, having these pieces of equipment from the start will save you many potential headaches in the long run.

Best of Luck !

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Hello Friends here we come up with an extension of our previous blog, “Seasonal Index……“Time is Money” Part 2

In previous Blog, we had touched upon the aspect like analysis part of seasonal patterns in predicting the future prices of the commodity.

Seasonal Index - “Time is Money” Final Part

In this Blog, we would read about that how an annual average method can be used to generate a seasonal pattern in predicting the future prices of the commodity and seasonal pattern in the year 2009.

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Annual Average Method

The annual average method can be used to generate a seasonal pattern as well as predicting the future prices of the commodity.

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This seasonal price index is derived by calculating the annual average price, and then by expressing the price for each month during the year as a percent of the annual average.

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Here, the data which is used to derive the seasonal price patterns are the monthly prices taken between the year April’2004 & November’2009.

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The monthly indexes over the years are averaged to derive a price index that represents those years.

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An example of the technique is presented in Table 1.

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The seasonal price index table suggests that the index increases from the month of June, the time the buyers enter the market with full potential & reaches the highest till the end of the year.

In The Year 2009

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The prices movement of this year almost followed the seasonal pattern, except few months.

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The supply constraints of lower output, as farmers opted for cotton, worked as a high base effect for the futures with a flat production figure of 8.5 lakh tonnes in 2008-09.

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The recovery in prices was noticed owing to the unforeseen failure of monsoons & comfortable stocks of 25-30 lakh bags from last year for which guar prices traded higher all through-out the year.

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This commodity created a history as it made a life time high, since the date of launch at national bourse, on reports that the output is estimated at 30-35 lakh quintals, down 62% due to factors like scanty rains in the major growing areas.

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Stronger Rupee along-with volatile Crude oil prices brought some corrections in export earnings from Guargum markets in Europe/US.

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However, upcoming demand for by-products such as churi & korma from international markets kept the millers interested in processing guar.

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In a nutshell, if investors want to spin their money safely & stabilize their net returns, using seasonal Index can prove to be a fair advantage.

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