Iras refuses to say sorry for its mistakes

上梁不正下梁歪

Read the letter to Straits Times forum in comments.

World According to USA

Additional spots where speed traps were seen

1) PIE towards airport near Toa Payoh exit, tripod mounted speed camera at the pedestrian overhead bridge. 90km/h.

2) PIE towards Jurong near Adam road exit, tripod mounted speed camera over at Adam Road flyover. 90km/h.

3) Braddell Road after Bishan Junction towards CTE, tripod mounted speed camera at the pedestrian overhead bridge. 60/kmh.

4) Queensway towards Bukit Merah, tripod mounted speed camera under tree before Ridout McDonalds. 60km/h.

5) Spot along Upper Bukit Timah Rd towards Woodlands Rd, tripod mounted speed camera under tree after a curve turn - 60km/h.

Fine imposed is $170 and 8 demerit points.

LTA - get fined $130 for dropping someone off at or near the bus stop

LTA has contracted six traffic wardens from a private company at $34,000 a year to take down the licence plate number, make and colour of vehicles that intrude into bus lanes at peak hours. (They are incognito with camera in hands......so don't expect to see a TP, etc.)

Note you can get fined $130 for dropping someone off at or near the bus stop.

LTA has intensified their operations at the following
1) Eunos Link
2) Hougang Ave 3
3) Jurong Town Hall Rd
4) Lorong Chuan
5) Orchard Rd
6) Upper Serangoon Rd
7) Upper Thomson Rd
8) Yishun Ave 2

Citigroup sinks to 10-year low, Goldman urges short sale

Now then Goldman call to sell short Citigroup? Way behind the curve!


Read full article in comments.

Global Indices

Read here

Commodity and China Factor

Read here

Mrs Lee Kuan Yew suffers another massive haemorrhage while in hospital

Mrs Lee Kuan Yew has suffered another massive haemorrhage while in hospital on Tuesday.

A statement from Minister Mentor's Office said she is critically ill, with guarded prognosis for recovery.

Mrs Lee, 87, has been at Tan Tock Seng Hospital since May 12 after suffering a stroke, and has been under close observation.

China’s property bubble is about to burst

Read full article in comments.

Why is the stock market so quiet?

I suggested not to hold big or any overnight positions since early January. Reason was that we don't know when DJIA will drop few hundred points while we are sound asleep.

Another suggestion is not to chase any stock that has moved up 5 bids. This is particularly true for penny stocks. If you do chase, chances is I will buy the same stock from you cheaper 5 days later.

Another strategy that many day traders are using now is to wait for DJIA to drop few hundred points, and then buy stocks when prices gap down the next morning - hopping to sell on a rebound intra day.

There is no more retail and little fund participation in the market now. It's all prop traders and stockists playing amoung themselves.

China's Falling Stocks Intertwined With Graft Probe

At first glance, the mainland’s plunging stock markets and an official probe earlier this month into activities of Wang Yi, deputy governor of the State Development Bank, bear little connection.

In fact, the two developing events are intricately intertwined, with details emerging in the past few weeks painting a sordid picture of the state of the mainland’s financial services, characterised by blatant official corruption, rampant insider dealing and a weak regulatory regime.

Full article in the comment.

China's Regulatory Changes Aren’t Always Bad

Western fund managers don’t like recent government moves to perk up the A-share market, but Chinese observers argue the trend is right.

Full article in the comment.

China Fuel Prices Are Up

But public transportation holds the key.

Read here

This week could get ugly for Wall Street

Fed’s anticipated tough inflation stance comes amid doubts about economy

Full article in the comment.

New moves by China soon?

CHINESE regulators, alarmed at the slide in share values this year and persistent rampant volatility, are contemplating new measures to boost the stock market.

Full article in the comment.

Shanghai: Prices of car plates drop as market cools

Full article in the comment.

Barrons: Light-Years Ahead of the Crowd. Interview with James B. Rogers

Read here

Law of Returns

This law is simple. It is the law of returns. You get what you give. Those who give little, gets little in return, whether at work or elsewhere. Those who go the extra mile will be rewarded sooner or later.

Higher oil prices may slow China industry

The 20% increase in China's fuel prices will cut into the bottom line of energy intensive industries, such as cement, aluminum and steel. Their spectacular growth may come to a rapid end.

What companies are in the affected industries? E.g. FerroChina...