Genting's Sentosa Casino Gears For Opening

Genting Bhd's new casino resort in Singapore will start receiving guests in two-thirds of the facilities by early next year, including Southeast Asia's first Universal Studio theme park and the casino.It is aiming for 60 per cent overseas visitors, most of whom will come from Malaysia.

Other key target markets are China, India, Indonesia and Thailand. An estimated 12 million to 13 million visitors are expected to arrive in the first year at the resort on Sentosa Island, a stone's throw from the harbourfront Vivocity shopping mall. "By early 2010, a good 60-70 per cent will be opened.

We are talking about the Universal Studio, four hotels, part of Festive Walk, which is a dining and shopping area, and the casino," Robin Goh, assistant communications director of Resorts World at Sentosa Pte Ltd, told Business Times in an interview in Kuala Lumpur yesterday. "We would love to (open by Chinese New Year), but we don't have the date yet," he said.

The rest of the project, including the Oceanarium and two more hotels, will be ready in the following months. The company is ramping up publicity and marketing efforts to prepare for ticket sales which will start towards the year-end. As a prelude to the opening, a charity concert will be staged within the resort in December, Goh said.

Both the integrated resorts in Singapore are expected to open in the first three months of next year. Analysts are speculating that Resorts World, which started construction later, may be the first to open after Marina Bay Sands encountered some delays. Marina Bay Sands will probably open in either January or February, its executive director of sales Paul Stocker told Business Times separately.

Analysts believe that the two resorts will strive to start operations before Chinese New Year, which falls on Valentine's Day next year, to capture the peak period for the casino. Goh said that Resorts World had yet to decide the ticket price for the theme park or the hotel room rates, but was "mindful" of its pricing strategy to attract the crucial Malaysian crowd. It will probably bundle hotel stays with entrance fees, apart from the day ticket, two-day pass and annual pass.

"What is important is that Malaysian families must be able to see value for money in our theme park. "The proposition is that this will be the nearest Universal Studio among the four parks in the world, and it is a world-class facility and not a watered-down version. "There will be 24 rides in Singapore's Universal Studio compared with around 21 for the other destinations in Osaka, Japan, and Orlando and Los Angeles in the US.

Eighteen of the rides are built exclusively for the park in Singapore, Goh said. Among the highlights, a new Transformers ride will debut in Singapore, replacing the popular Spiderman three-dimension thrill ride which is already in all the three existing parks.

Article from Business Times.com

Market Stays Above Key Support Level.

SHARE prices on Bursa Malaysia rebounded in tandem with the sharp rebounds on the Wall Street and regional stock markets over the last five trading days. The FTSE Bursa Malaysia Composite Index (FBM KLCI) continued to stay above its critical support of 1,100 when it closed at 1,155.88 points yesterday.

The FBM KLCI opened on a weak note before resuming its prior technical rebounds on Monday. The FBM KLCI closed at 1,139.25 points, posting a day-on-day gain of 18.35 points, or 1.64 per cent. Share prices on Bursa Malaysia paused for a brief consolidation on Tuesday. The FBM KLCI closed at 1,184.70 points, giving a day-on-day loss of 4.55 points, or 0.40 per cent.

Overall market sentiment improved significantly on Wednesday. The FBM KLCI rebounded to higher to its intra-day high of 1,160.61 before closing at 1,148.70 points, posting a day-on-day gain of 14.00 points, or 1.23 per cent. The FBM KLCI gyrated around its overnight level for the major part of the trading session on Thursday. The FBM KLCI closed marginally higher at 1,152.15 points, giving a day-on-day gain of 3.45 points, or 0.30 per cent.

Once again, the FBM KLCI moved sideways in consolidating its recent gains yesterday. It fluctuated around its overnight level for the major part of the trading session. It managed to close marginally higher at 1,155.88 points, giving a day-on-day gain of 3.73 points, or 0.32 per cent. On the foreign front, The Dow Jones Industrial Average (DJIA) rebounded in earnest on some economic recovery news over the last four trading days. The DJIA closed higher at 9,069.29 points on Thursday, recording a four-day gain of 325.35 points, or 3.72 per cent.

The tech stock heavy Nasdaq Composite Index staged a successful re-penetration of its overhead resistance of 1,900. It closed at 1,973.60 points on Thursday, posting a four-day gain of 86.99 points, or 4.61 per cent. The Tokyo stock market staged a strong follow-through technical rebound over the last five trading days. The Nikkei 225 Index closed at 9,944.55 points yesterday, posting a week-on-week gain of 549.23 points, or 5.85 per cent. The Hong Kong stock market climbed back above its critical support of 19,000. The Hang Seng Index closed at 19,982.79 points, recording a week-on-week gain of 1,177.13 points, or 6.26 per cent.

The FBM KLCI rebounded to close higher at 1,155.88 points yesterday, posting a week-on-week gain of 34.98 points, or 3.12 per cent. The FTSE Bursa Malaysia Second Board Index gained 168.42 points, or 3.48 per cent to 5,010.79 level while the FTSE Bursa Malaysia Mesdaq Index added 20.31 points, or 0.50 per cent, to 4,097.99 level.

Following are the readings of some of its technical indicators:

1. *Moving Averages: The FBM KLCI continued to stay above its 10-, 20-, 30-, 50-, 100- and 200-day moving averages.
2. * Momentum Index: Its short-term momentum index stayed above the support of its neutral reference line.
3. * On Balance Volume: Its short-term OBV trend stayed above the support of its 10-day exponential moving averages.
4. * Relative Strength Index: Its 14-day RSI stood at the 80.32 per cent level yesterday.

Outlook

The FBM KLCI continued to rally to its intra-week high of 1,160.61 on Wednesday, moving into the confines of this column's envisaged resistance zone (1,124 to 1,163 levels). The FBM KLCI's weekly chart moved to the underside of its immediate overhead resistance (See FBM KLCI's weekly chart - A5:A6) yesterday.

It continued to stay above its resistance-turned-support trendline (A3:A4). Chartwise, the FBM KLCI's daily trend rebounded closer to its overhead resistance (See FBM KLCI's daily chart - B1:B2) yesterday. It continued to stay below its intermediate-term uptrend (B7:B8). The FBM KLCI's daily, weekly and monthly fast MACDs (moving average convergence divergence) stayed above their respective slow MACDs yesterday.

This augurs well for its near-term perspectives. The FBM KLCI's 14-day RSI stayed at 80.32 per cent level yesterday. Its 14-week and 14-month RSI stayed at 73.84 and 56.52 per cent levels respectively. Last week, this column commented that the FBM KLCI was poised to stage a re-challenge of the Fibonacci-based 50 per cent retracement objective at 1,163 level.

This column was spot on as the FBM KLCI hit its intra-week high of 1,160.61 on Wednesday. There were intermittent profit-taking liquidations over the last four trading days. The FBM KLCI is likely to pause for a short and brief consolidation before resuming its prior technical rebounds. Next week, the FBM KLCI's envisaged resistance zone hovers at the 1,159 to 1,193 levels while its immediate downside support is at the 1,116 to 1,150 levels.

Article from Business Times Malaysia

Citibank's Problems Are Far from Over

While there are a lot of numbers reported in Citibank's (C) recent quarterly earnings there is ONE critical comparison that is missing -- that is the sequential analysis of the credit losses (Q1 vs. Q2). I believe this is critical information not just for Citibank but for all financials.

First, here are the links to the Q1 report and Q2 report.

Getting to the point on credit losses:

April 17th report: Credit costs of $10.3 billion, up 76%, consisted of $7.3 billion in net credit losses, a $2.7 billion net loan loss reserve build, and $332 million of policyholder benefits and claims. The total allowance for loans, leases and unfunded lending commitments was $32.7 billion.

July 17th report: Credit costs of $12.4 billion, up 81%, consisted of $8.4 billion in net credit losses, and $3.9 billion loan loss reserve build. The total allowance for loans, leases and unfunded lending commitments was $37.0 billion, up from $21.9 billion in the prior year period.

As seen from these numbers, from Q1 to Q2 -- credit costs are STILL RISING. Losses were up by $1.1B and loan loss reserve is also higher by $1.2B. Unfortunately, from these reports, we do not get details of early delinquencies vs. late delinquencies; so a greater analysis of month to month trend is not possible based on these reports (companies like E*Trade Financial provide such details).

But given that on a quarterly basis numbers are still getting worse is an indication that problems at Citibank are FAR from being over. Indeed, increasing unemployment and recent indications that early stage delinquencies may be on the rise. For example, foreclosureradar.com's California report for June 2009, showed the HIGHEST number of notice of default on record ever.

Notice of default is the "first" step towards foreclosure and is the early stage indicator of things to come. June 2009 being worse than the entire last year and this year is indeed quite scary and banks like Citi, Wells Fargo (WFC), Bank Of America (BAC), JPMorgan Chase (JPM) etc. are more likely to be impacted by this than some of the other banks. And this is only mid-summer. Seasonally, things get worse in real-estate late-summer and fall.

While I wish to remain optimistic, and have net long position on financials (through XLF) - it is hard to remain optimistic in light of these numbers. I have tried to hedge my long position in financials with some FAZ.

The Great Baby-Boomers Economic Depression of 2007-2017

Prof Rodrigue Tremblay writes: "Banking Establishments Are More Dangerous Than Standing Armies." Thomas Jefferson (1743-1826), 3rd US President

"... a serious depression seems improbable; [we expect] recovery of business next spring, with further improvement in the fall." Harvard Economic Society (HES), November 10, 1929

"While the crash only took place six months ago, I am convinced we have now passed through the worst -- and with continued unity of effort we shall rapidly recover. There has been no significant bank or industrial failure. That danger, too, is safely behind us." President Herbert Hoover, May 1, 1930

"Under a paper money system, a determined government can always generate higher spending and hence positive inflation." Fed Chairman Ben Bernanke, in 2002

Many observers think that “prosperity is around the corner” and that this recession, like others since World War II, will end as soon as the stock market, as a leading indicator, recovers and people start spending again. This is a myopic view of the current economic big picture.

In fact, since the peak of the housing bubble (in the U.S.) in 2005, the onslaught of the subprime financial crisis in August 2007 and the beginning of the recession in December 2007, the U. S. economy, and to a certain extent, the world economy, have entered a period of protracted adjustments. For sure, there will be some quarters of positive economic growth ahead and the recession may be declared officially over in the coming months, but the radical economic reorganization that is taking place will go on for years to come.

Why is this so?

Essentially, because we are at the very end of the 60-year inflation-disinflation-deflation Kondratieff cycle that began in 1949 when war-frozen prices were liberalized; and that powerful long cycle is ending now. The post 1980s era, i.e. the Reagan era, is over, but the excesses and bubbles of the last few decades have to be corrected, at a time when large population shifts are about to take place. Such adjustments will take years to unfold and this will entail a lot of efforts and a lot of changes.

Indeed, the era of excessive spending and of excessive debt is over. The era of excessive government economic disengagement and of financial deregulation is over. The era of irresponsible Ponzi-scheme finance is over. The era of unregulated derivatives is over. The era of greed as an ideology is over. The era of wild and predatory capitalism is over. The era of cheap oil, of cheap transportation, of cheap commodities and of cheap food is over. The era of excessive concentration of wealth and income is also over. However, the age of political corruption, of incompetent politicians and of destructive wars of aggression is not over. What has arrived is the age of hyperstagflation.

The central driving force behind most of these developments, besides the collapse of the financial sector, the debt pyramid and the derivative products structure, and irresponsible talk of larger wars by loose cannon politicians (as if there were not enough problems!) is going to be demographic.

Indeed, we have entered a period during which the largest demographic cohort in the history of mankind, the post Word War II baby-boomer generation, has passed its spending peak. This is not something that can be reversed overnight. This is going to be a decade-long process of adjustment, of less spending, of more saving, and above all, of paying off excessive debt loads. Let's keep in mind that consumer spending represents 70 percent of GDP.

The economic consequences are going to be profound and will affect all sectors of the economy. We only have to consider how the automobile industry, once a major engine of economic growth, is presently going through a fundamental reorganization and downsizing. Even computer-based industries have matured and cannot anymore be considered fast growing industries.

The only growth sectors left in the U.S. seem to be the health services industry, as the population is aging, and the war-related industries, as the U.S. military-industrial complex keeps on expanding. But even those sectors will have to slow down; lest they bankrupt the entire economy.

That's why I think these industrial and demographic trends herald a period of slower economic growth that could last many years. Governments better wake up to the challenges that such a slow growth environment entails. Very few people are prepared for such a prolonged period of economic stagnation that will be accompanied by forced debt liquidation, in a deflationary environment.

This is particularly true of private pension plans that will have trouble paying pensions to recipients in the coming years. This is also true for employment that will expand at a slower pace than the working population, at least for a while, resulting in a rise in the level of unemployment.

Baby-boomers are those individuals who were born between 1946 and 1966. Because of its sheer size (more than 70 million people in the U.S.), this generation has been dominant in all spheres of life for the last fifty years. But now, it has passed its spending peak. This occurred in 2005-06, at the very top of the housing bubble.

The average age of the baby-boomer demographic cohort was then 50, which is the age of top spending. At that time, the U.S. personal savings rate fell to a whopping minus 2.5 percent per year. As a comparison, it was 12.5 percent during the 1981-82 recession and it has now rebounded a phenomenal 5.7 percent in April 2009, and it's climbing fast.

Indeed, the end of the housing bubble, the financial crisis, and the economic recession altogether have sent a clear signal to Baby Boomers. You'd better begin saving soon, or your retirement will have to be postponed. And saving means consuming and spending less, while paying up debts, in order to boost net current personal assets to a level that could sustain retirement needs. But if the largest cohort of consumers cuts down on its spending and borrowing, what does it mean for aggregate spending and economic growth?

It can only mean slower overall economic growth and some painful economic adjustments. Therefore, there is a high probability that this recession will be a super one that may linger on for years, being interrupted by short-run upside bursts, but soon being followed by a return of stagnant conditions. In Japan, in the nineteen-nineties, a similar financially and demographically induced recession lingered on for an entire decade. And even after twenty years, it cannot be said that Japan is out of the woods yet.

In the short run, in order to counteract the effects of the financial crisis and to fight the current recession that began officially in December 2007 (according to the National Bureau of Economic Research- NBER), the Obama administration has devised a three-quarter billion dollar stimulus plan and has let the fiscal deficit explode to more than two trillion dollars a year because of its bail-out of the troubled banks.

Similarly, the Fed has lowered short-term rates to zero and has purchased billions of dollars in long-term Treasury securities, in government agency securities, and even in mortgage-backed securities, in a desperate effort to save large financial institutions such as AIG, Fannie and Freddie, and other American financial institutions from imploding.

But now bond investors, especially international investors, are selling Treasury bonds and are pushing long-term interest rates up and the U.S. dollar down as inflation fears increase, even though paradoxically the collapse of the pyramid of debts creates a deflationary environment for the entire economy.

The danger here is that bond investors will be selling Treasury bonds faster than the Fed can buy them. In which case, there will be a downward spiral in bond prices as inflation and solvency fears are exacerbated. In a word, if the Fed does not tone down its current policy of excessive monetizing of public and private debts and its obvious 'benign neglect' policy toward the dollar, high inflation and possibly even hyperinflation become a possibility down the road. This has happened elsewhere in the past and there is no reason why it could not happen again, especially if the U.S. keeps getting involved in costly wars abroad, paying those adventures with money it does not have.

For now, a quick resurgence of inflation is only a remote possibility. This is nevertheless a possibility, considering that central banks have a tendency to overdo the printing of fiat money. In fact, if governements attempt to print their way out of the coming structural demographic problem, they will end up generating an hyperstagflation.

In a nutshell, this is what the huge international dollar-denominated bond market sees and fears, at a time when it has to absorb a huge supply of new bond issues. In reality, the bond market will always win against any central bank, any time. The solvency woes and the likely default of the state of California on its outstanding debt will only add to the anxiety.

A few weeks ago, I warned against the risk of future long term interest rates hikes and future U.S. dollar depreciation following the decisions by the U.S. Treasury and by the Fed to flood the markets with trillions of dollars of new Treasury bond issues and with newly printed money. The undertow is coming even faster than I thought.

Only when the markets expect relative economic stagnation and a lasting deflationary environment will long term interest rates taper off.

Brace yourself and hold on to your britches. There is a rough economic decade ahead.

Tipping Point For Nusajaya Growth In 2011: UEM Land

UEM Land Holdings Bhd expects growth for its Nusajaya township to start gathering momentum from 2011 as more infrastructure and other projects near completion. Managing director Wan Abdullah Wan Ibrahim said the year would mark the starting point for many large-scale projects in Nusajaya.

At the same time, work on other major projects would also be done by then. Among the projects that would be completed by 2011 are the coastal highway linking Johor Baru, quarters for state government staff and the federal government agency complexes. The Legoland theme park would also be in its finishing stage.

"The tipping point for growth to spurt in Nusajaya would be in 2011. That is when a new pace of development begins and the environment in Nusajaya and Iskandar Malaysia would pick up pace," said Wan Abdullah during a question-and-answer session after a briefing on projects under Iskandar Malaysia.

Housing and Local Government Minister Datuk Kong Ho Cha, who was on his first visit to Nusajaya with his deputy Datuk Lajim Ukin were among those at the briefing in Nusajaya, near Gelang Patah, Johor.

Also present were Iskandar Regional Development Authority chief executive officer Harun Johari and Iskandar Investment Bhd managing director Arlida Ariff. Wan Abdullah said Nusajaya already has the volume in terms of residents as 11,000 houses in the township were already occupied. Foreigners also make up almost two thirds of high-end homes such as the East Ledang project.

When asked about a public housing project which would cater to people working in the area, Wan Abdullah said the efforts would be made to ensure only qualified tenants would get the houses. UEM Land Holdings is the developer of Nusajaya's main features such as the state administration complexes of Kota Iskandar, Puteri Harbour, Southern Industrial and Logistics Clusters and Alfiat Healthpark and residences.

Article from Business Times.com

Five Fatal Flaws Of Trading

By Jeffrey Kennedy

Close to ninety percent of all traders lose money. The remaining ten percent somehow manage to either break even or even turn a profit – and more importantly, do it consistently. How do they do that?

That's an age-old question. While there is no magic formula, one of Elliott Wave International's senior instructors Jeffrey Kennedy has identified five fundamental flaws that, in his opinion, stop most traders from being consistently successful. We don't claim to have found The Holy Grail of trading here, but sometimes a single idea can change a person's life. Maybe you'll find one in Jeffrey's take on trading? We sincerely hope so.

The following is an excerpt from Jeffrey Kennedy’s Trader’s Classroom Collection. For a limited time, Elliott Wave International is offering Jeffrey Kennedy’s report, How to Use Bar Patterns to Spot Trade Setups, free.

Why Do Traders Lose?

If you’ve been trading for a long time, you no doubt have felt that a monstrous, invisible hand sometimes reaches into your trading account and takes out money. It doesn’t seem to matter how many books you buy, how many seminars you attend or how many hours you spend analyzing price charts, you just can’t seem to prevent that invisible hand from depleting your trading account funds.

Which brings us to the question: Why do traders lose? Or maybe we should ask, 'How do you stop the Hand?' Whether you are a seasoned professional or just thinking about opening your first trading account, the ability to stop the Hand is proportional to how well you understand and overcome the Five Fatal Flaws of trading. For each fatal flaw represents a finger on the invisible hand that wreaks havoc with your trading account.

Fatal Flaw No. 1 – Lack of Methodology

If you aim to be a consistently successful trader, then you must have a defined trading methodology, which is simply a clear and concise way of looking at markets. Guessing or going by gut instinct won’t work over the long run. If you don’t have a defined trading methodology, then you don’t have a way to know what constitutes a buy or sell signal. Moreover, you can’t even consistently correctly identify the trend.

How to overcome this fatal flaw? Answer: Write down your methodology. Define in writing what your analytical tools are and, more importantly, how you use them. It doesn’t matter whether you use the Wave Principle, Point and Figure charts, Stochastics, RSI or a combination of all of the above. What does matter is that you actually take the effort to define it (i.e., what constitutes a buy, a sell, your trailing stop and instructions on exiting a position). And the best hint I can give you regarding developing a defined trading methodology is this: If you can’t fit it on the back of a business card, it’s probably too complicated.

Fatal Flaw No. 2 – Lack of Discipline

When you have clearly outlined and identified your trading methodology, then you must have the discipline to follow your system. A Lack of Discipline in this regard is the second fatal flaw. If the way you view a price chart or evaluate a potential trade setup is different from how you did it a month ago, then you have either not identified your methodology or you lack the discipline to follow the methodology you have identified. The formula for success is to consistently apply a proven methodology. So the best advice I can give you to overcome a lack of discipline is to define a trading methodology that works best for you and follow it religiously.

Fatal Flaw No. 3 – Unrealistic Expectations

Between you and me, nothing makes me angrier than those commercials that say something like, "...$5,000 properly positioned in Natural Gas can give you returns of over $40,000..." Advertisements like this are a disservice to the financial industry as a whole and end up costing uneducated investors a lot more than $5,000. In addition, they help to create the third fatal flaw: Unrealistic Expectations.

Yes, it is possible to experience above-average returns trading your own account. However, it’s difficult to do it without taking on above-average risk. So what is a realistic return to shoot for in your first year as a trader – 50%, 100%, 200%? Whoa, let’s rein in those unrealistic expectations. In my opinion, the goal for every trader their first year out should be not to lose money. In other words, shoot for a 0% return your first year. If you can manage that, then in year two, try to beat the Dow or the S&P. These goals may not be flashy but they are realistic, and if you can learn to live with them – and achieve them – you will fend off the Hand.

*For a limited time, Elliott Wave International is offering Jeffrey Kennedy’s report, How to Use Bar Patterns to Spot Trade Setups, free.*

Fatal Flaw No. 4 – Lack of Patience

The fourth finger of the invisible hand that robs your trading account is Lack of Patience. I forget where, but I once read that markets trend only 20% of the time, and, from my experience, I would say that this is an accurate statement. So think about it, the other 80% of the time the markets are not trending in one clear direction.

That may explain why I believe that for any given time frame, there are only two or three really good trading opportunities. For example, if you’re a long-term trader, there are typically only two or three compelling tradable moves in a market during any given year. Similarly, if you are a short-term trader, there are only two or three high-quality trade setups in a given week.

All too often, because trading is inherently exciting (and anything involving money usually is exciting), it’s easy to feel like you’re missing the party if you don’t trade a lot. As a result, you start taking trade setups of lesser and lesser quality and begin to over-trade.

How do you overcome this lack of patience? The advice I have found to be most valuable is to remind yourself that every week, there is another trade-of-the-year. In other words, don’t worry about missing an opportunity today, because there will be another one tomorrow, next week and next month ... I promise.

I remember a line from a movie (either Sergeant York with Gary Cooper or The Patriot with Mel Gibson) in which one character gives advice to another on how to shoot a rifle: 'Aim small, miss small.' I offer the same advice in this new context. To aim small requires patience. So be patient, and you’ll miss small."

Fatal Flaw No. 5 – Lack of Money Management

The final fatal flaw to overcome as a trader is a Lack of Money Management, and this topic deserves more than just a few paragraphs, because money management encompasses risk/reward analysis, probability of success and failure, protective stops and so much more. Even so, I would like to address the subject of money management with a focus on risk as a function of portfolio size.

Now the big boys (i.e., the professional traders) tend to limit their risk on any given position to 1% - 3% of their portfolio. If we apply this rule to ourselves, then for every $5,000 we have in our trading account, we can risk only $50-$150 on any given trade. Stocks might be a little different, but a $50 stop in Corn, which is one point, is simply too tight a stop, especially when the 10-day average trading range in Corn recently has been more than 10 points. A more plausible stop might be five points or 10, in which case, depending on what percentage of your total portfolio you want to risk, you would need an account size between $15,000 and $50,000.

Simply put, I believe that many traders begin to trade either under-funded or without sufficient capital in their trading account to trade the markets they choose to trade. And that doesn’t even address the size that they trade (i.e., multiple contracts).

To overcome this fatal flaw, let me expand on the logic from the 'aim small, miss small' movie line. If you have a small trading account, then trade small. You can accomplish this by trading fewer contracts, or trading e-mini contracts or even stocks. Bottom line, on your way to becoming a consistently successful trader, you must realize that one key is longevity. If your risk on any given position is relatively small, then you can weather the rough spots. Conversely, if you risk 25% of your portfolio on each trade, after four consecutive losers, you’re out all together.

Break the Hand’s Grip

Trading successfully is not easy. It’s hard work ... damn hard. And if anyone leads you to believe otherwise, run the other way, and fast. But this hard work can be rewarding, above-average gains are possible and the sense of satisfaction one feels after a few nice trades is absolutely priceless. To get to that point, though, you must first break the fingers of the Hand that is holding you back and stealing money from your trading account. I can guarantee that if you attend to the five fatal flaws I’ve outlined, you won’t be caught red-handed stealing from your own account.

For more information on trading successfully, visit Elliott Wave International to download Jeffrey Kennedy’s free report, How to Use Bar Patterns to Spot Trade Setups.

Jeffrey Kennedy is the Chief Commodity Analyst at Elliott Wave International (EWI). With more than 15 years of experience as a technical analyst, he writes and edits Futures Junctures, EWI's premier commodity forecasting package.