Head and Shoulders, and its not dendraff

I remember it is my final year in my diploma course that I learned about responsibility and accountability. It is an interesting subject and I remember the concept well. The topic was part of the Supervisory subject.

The existence of responsibility and accountability is a result of exsistence of hierarchy. Responsibility is different at each level of a hierarchy, the higher the level, the area of responsibility increases.

An operator at production line for instance, carries the least amount of responsibility of probably inserting a certain number of components, a line leader would be responsible for the proper working of a group of operator, a supervisor would be in charge of a few line leaders, meaning a few groups of operators, a production manager would be in charge of a few supervisors and operation manager would involve the production, Engineering and quality control.

With responsibility means power, it also comes with accountability. an operator may only be accountable for the few components that she takes care of, but a production manager would have to answer on behalf of the operators from the whole production floor. Accountability is in fact very important to ensure proper working of a system.

What would happen if the acccountability is removed from responsibility. This would mean that one need not answer to any wrong doings therefore there is no consequence no matter how big the damage caused.

So where do we see examples of responsibility without accountability? Malaysia is certainly a good example. For years the malaysian Government has been in full control of the country, over the years, they realise that they can get away with any wrong doings because no one would be able to take them accountable. They colluded with the police, control the judicial to further prevent people from convicting them of any crime.

The effect is corruption and complacency. Greed is seen on those in power. In fact there are roumors that the high powers compete on how much bribe they are getting, they are not interested in one or two hundred thousands, we are talking about tens of millions! As there is no accountability, it does not matter if the job is done, since no one would be charge for any failure, no one would be sack at all. Such acts suck the life out of the country.

What about Singapore? I recall LKY ever mentioned complacency. This was right after MAs Selamat managed to escape. I believe LKY want to tell the people of Singapore that they are complacent. But who exactly are complacent? The people are only accountable of their lives beacuse they have no say in policies, they also have little choice of who should represent them, choicing the wrong side means dealy consequences like no lift up-grading. In fact, there is no complacency in people's part because the only concern is to make a living, if you don't you won't survive. Some how it seems like the strategy of government work to create 100% employment.

It is in fact the Government itself being complacent, because there is no accountability as long as it is not in the light. With complacency comes corruption, the check and balance does not exist, that is why we have cases of director of civil service earning 12 mil and drive sports car. If not for the accident, no one even know how much he has taken. Well, some may argue that this is only one case. But is it? For one case to come to light, there are 10 still hidden.

To get the country working properly, check and balance is necessary, a single party system would certainly fail to do so.


Fig 1 STI Daily Chart

I will make this one short because I have just wrote about it a few days earlier. What I see today is a head and shoulder formation with STI broken the neck line, it is heading for 3,073 but not before retracing to neck line. The 50% Fibonacci retracement is at 3,068.

Who likes Diamond?

Girls love diamonds, well, my wife is exceptional.She does not wear jeweleries, tat is why she always tells me that she gives me a lot of savings.


Fig 1 Tiong Woon Daily Chart

I have earlier bought this counter at 0.455. It went up as expexted but failed to reach my objective, and unfortunately, it came down all the way to below my buying price. I stopped loss as I find the move to be quite bad.

So now I see diamond in this chart and it has just broken downward. Diamond is reversal signal and this is no good for Tiong Woon. The objective for Diamond on Tiong Woon is 0.40.

Cabinet reshuffle...er...change

This is breaking news, the Singapore government has just announced a cabinet change! Wong Kan Seng is stepping down as Minister of Home Affairs and taking up the challenge of Ministry National of Security.

The explanation is that it is normal phenomenon. Ministers normally have job rotation into different post. Well, this is not so normal in Singapore. As far as my memory goes, I have not recall any of such job rotation in the past. Especially when election is getting closer.It is a little strange for such action now, isn't it? If the system is working well, why make changes?

While LHL is playing down the event and some "scholars" providing good explanation to this action such as a process of self renewal. This is commonly known as a cabinet reshuffle. This is a process which happens when the ruling party of a country become unpopular and the head of state initiate such action to remove unpopular ministers. Of course other countries do not have a large pool of ministarial title such as Minister of National Population and Talent Division (I really wonder what the heck this is?). So is Wong Kan Seng going to be like Simon Cowell?

So the conclusion is that PAP realise that its unpopularity has risen to new heights and it would reach desaster level should nothing is done. Our deputy Prime Minister was instrumental in the escape of MAs Selamat and the very fact that PM Lee not only defended but retained him has seriously damaged the integrity of the party, certainly it seems that there is no such thing as meritrocracy in the ruling party.

The highlight of the reshuffling this round is a clear indication that PM Lee needs to remove the liability in a subtle way. While DPM Wong seems to be taking up more roles, he has been in fact "明升暗降“. As compare to a minister of Home Affairs, Minister of National Security and overseeing National Population and Talent are certainly much more minor.

No offence to DPM Wong, but I definitely do not feel that he qualify for the job of National Security. Mas Selamat escape under his care and this is a real good track record of his incompetency.

Another thing about this reshuffling is that it is indication of election might be much further away. PM Lee needs to get the new formation work to show case his success. My feel is that it is unlikely to hold election in two months time when the seats are not even warmed. A normal pace for a person to get used to a new post is 1/2 a year before result can even be seen.

I suspect that PAP realize that the risk is too great to call for election now ( or two months ahead ). PM Lee might want to wait until Budget announcement to spread some sweetness before hand.


Fig 1 STI Daily Chart

As for STI today, I am not sure if it foresee the coming reshuffling. The fall is great and at one point fell by 43 points. Technically speaking, it is on the edge of the negative gradient for Gann Grid lines, naturally, it should be down.

Both indicators are also descending, adding on to the weight. Probably STI would be going down for the next 2 days even.

The support I see comes from the 89 days moving average at 3,036, the 32.8% Fibonacci retracement of 3,107 and 50% Fibonacci retracement of 3,070.

Romance with Aztech

Fig 1 Aztech Daily Chart

I have a little romance with Aztech recently, the relationship lasted for about a month.

Aztech was about 0.20-0.205 when I enter her life. It was developing a descending triangle when I saw her and it seemed at the time was about the end. The RSI and Stochastic then there at their lows and I guess there is no harm in venturing further, even though it has not touched its lower envelop yet.

I entered at 0.205 with espectation that if she breaks out of her triangle, she would be heading for 0.35 eventually.

She did not disappoint me, at least not till mid September. She suddenly has a change of heart, pausing at no more than 0.235 level. In the midst of congestion, she has created a double top with objective of 0.193. Still I have hopes that she would pull trhough the hardship and eventually bring herself higher.

It was a disappointment, she has dropped further to 0.215. I have thought earlier that I would have to part with her if she ended below 0.215. Eventually I did not wait. I just let go at 0.215.

Looking back now, I feel a little lucky that I did what my heart told me. She went a further 0.01 to 0.205. Both RSI and Stochastic are on continuation downward. My guess is that she is going to fulfill its objective of 0.19.I think probably only then that I should be seeing her again.

I have just fixed Dow Jones

Don't be mistaken, I do not have the capacity to manipulate such huge market. My DJIA data from my service provider has not been accurate lately. First something was wrong with the data showing only 3,000+ points when Dow was at 11,000+. Then after the system went down and up again, the system simply did not up-date on Dow so I have to enter the data manually. Well, at least I don't have to do the same for others.


Fig 1 DJIA Daily Chart

Looking at the chart, the first question came into my mind is "is it ready to come down?"

It has reached or at least close to the previous high of 11,258 and from what I see would be a ressitance level.

Its indicators are not really fantastic at the moment since both of them are at the top. RSI produced a mild divergence while Stochastic has a third peak. Its first was donequite some time ago.

So there are likelihood that DJIA is reversing. It is presently supported by its 21 days moving average of 10,912.

On a side note. If DJIA continues to fall and crosses 9,614. It would create a formation of double top and the consequence is BAD,a rough measurement indicates a low of 7,985. But then, whether it is going to reach there or not will only be revealed 2 months later (at least).

SSEC follow up

I went on leave today. It is my daughter's official registration for primary one. I was a little strange that the school asked us to be present by 10:30AM. So my wife and I took time off work to go through the process.

What the school did not tell us was that they have also arranged vendors to be at the school. So we did not bring our daughter there for purchase of uniforms and shoes. Nevertheless, we did complete the school bus registration and purchase of all the books.

I was also quite surprise that my daughter belong to the green house, because I belonged to the green house too when I was in primary school.


Fig 1 SSEC Weekly Chart

Now back to chart, my last up-date indicated SSEC having more chance of continuation than reversal. That was the time when it was in a congestion band. Well, it did break out on the up-side. In fact, it reach an objective of more than what the rectangle indicated. In all it was an objective of a swing move.


Fig 2 SSEC Daily Chart

Now I am using a past tense because SSEC's indicators are showing weakness. The weekly ones seems reversing while the dailies not only reversing but on divergence. So SSEC is likely to follow the rest on reversal.

At present there is a support at 2,981 while 21 weeks moving average at 2,796.

STI on reversal

Okay, it is like Deja Vu because I have mentioned this before. STI is reversing now because of divergence on indeicators for both weekly and daily basis.

The moving average support level on daily basis is 3,139 while resistance from Fibonacci Projection is 3,197.


Fig 1 STI Weekly Chart



Fig 2 STI Daily Chart

Damn! Server down....

No, not the server of Temasek Review. It is the server of my service provider!

It has been down since last Saturday and even until now, I can't get a successful down load and I have to depend on my broker's web-site. I can't really write anything on stocks for now until their server is up and running again.

Seriously, I won't want to say anything bad about Malays, but those in Malaysia really can't make it.

SSEC is still stuck

I just have a glance at SSEC, I am surprised that it is still stuck in a congestion band. Really I think it should really move on.


Fig 1 SSEC Weekly Chart

One thing for certain, this is more of a rectangle continuation instead of top reversal.

The use of NLP Circle of Excellence

It has been quite a while since I have last used the NLP resources on myself.I have been a coach in the past applying all the methods from NLP until one day I got a little sick of it.

Since I am really (really) down these few days, I have decided to use one of the method to overcome my weakness, I chose Circle of Excellence. It is not that easy to use because you need to build resources on an object and then absorb the energy of the resources. The advantage is that you can build more than one resource and you can reuse the object. Everytime you touch the object, the resources will automatically be available to you.

So from a simple circle of excellence, I can diversify into phone of excellence, door of excellence, notebook of excellence, etc. The only problem with the creation is that people will think you are a wierdo holding on to an object while looking like having an orgasm.

But then, the circle of excellence worked for me today and I felt much better afterward.


Fig 1 STI Daily Chart

I have been writing about STI these few days because the development is quite interesting. As I mentioned yesterday, the market seems to be celebrating LKY's wife passing, it again went another notch higher.

The interesting part of today's move is that it is stopped at the 38.2% Fibonacci projection of 3,197. At the end of the day, it retraced to 3,190.

The Stochastic somehow retraced while RSI continued to climb. The only problem with that is that the up-side is limited. Further more, the index is reaching a turning point base on the Gann Grid line that I have placed. So I supposed this time the evening star would be more plausible than the last.

At present STI will be supported by its 23.6% Fibonacci projection support at 3,141. IF going higher, the next resistance will be 50% Fibonacci Projection at 3,244.

Losing steam

It was during my days in Polytechnic that I have lunch with my supervisory lecturer who also happened to be the head of Electronics and Communication Department. During the lunch meeting, he mentioned of having difficulties in catching up with Technology and other might catch up to him soon. I did not quite get what he meant at that time, surely as long as you continue to acquire knowledge, you will continue to be at the top of your class, won't you?

Well, it seems that I am experiencing now what he was experiencing then. Although I am going to work every day, my performance continues to deteriorate. Others might not notice ths because I am still so good in camourflaging.

Most notably, my motivation continues to drop because I am not getting the satisfaction I need. I am no longer able to simply pursue knowledge because there are other factors in life distracting my goal. May be the most important factor that cause my deterioration is that my heart is no longer in technology.


Fig 1 STI Daily Chart

I recall my prediction yesterday that STI would open lower which would lead to confirmation of an evening star. Well, I got it right partially. It opened much lower, but continued to climb up throughout the day. Probably to the surprise of everyone, it closed a few points higher than yesterday's open. quite impressive I must say.

So does this mean that market is really positive in anticipation of Lee Kuan Yew's retirement? I think the market wants a change of management.

Anyway, while Stochastic and RSI continue to climb, their position remains high. RSI itself is also tapering off, so there is a weakening in momentum. Therefore, while STI might still climb, it is quite limited as far as I am concern.

Using Fibonacci projection, the resistance and support are at 3,198 and 3,141 respectively.

Potential Evening Star on STI

It was on Saturday that I have heard news on the passing of Madam Kwa Geok Choo, she is the wife of the present Minister Mentor of Singapore, Lee Kuan Yew and mother of the prime minister Lee Hsien Loong. My condolence to the Lee family (should they visit my blog).

Over the radio, I have heard about the Lee family asking for people not to publish any arbituary on Mrs Lee's passing to make this a private affair. The state media however, seem to fail in understanding this. Articles on Mrs Lee have been published on newspapers for days with more than 1 page of coverage every single day. Some of the articles even exagerated her contribution to the country ( this I heard from forum ). She is the wife of Lee Kuan Yew, is it necessary to make her bigger than life?

At the same time, I have been reading on forums about her, netizens seems to be much less sympathetic to her. To them, it was like "finally! She is dead!" While most netizens dislike the Lee family, primarily Lee Kuan Yew, it is not justify poke fun at her death simply because she is his wife. With all due respect, see her as a person, while I do not see much contribution from her to the country ( probably because I seldom read about her stories ), she has done little in harming people as far as my understanding goes.


Fig 1 STI Daily Chart

Well, one reason I wrote about Mrs Lee's passing in this blog is because of market reaction. It shot up by 30 plus points when opened, only to drop to 3,197 by closing time. So is this also because of the market joyous on her death? I mean it is like the market mocking at Lee Kuan Yew's loss.

While the RSI and Stochastic have turned upward indicating a possible continuation uptrend, the indicators are pretty high at this moment. I doubt that the market is very bullish. I suspect STI is having an evening star.

The market is realistic, it does not joke or mock at someone's death. I think the market is now worry about the political uncertainty of Singapore. Mrs Lee passing means Lee Kuan Yew losing a pillar of support, I believe Mrs Lee's presence is is very important to generate drive for Lee Kuan Yew. He might not last until the next election without her, let alone running an election.

It is a high chance that market is about to turn.