stock option trading | Singapore online option trading experiences

Update on my July 13 DIA Iron Condor Option Position

2013-06-29T07:47:00.001-07:00

Dear fellow options traders,

On 21/5/13, I established a new DIA Iron Condor position using The ‘Uncle Joe’ Iron Condor Trading Plan.

I sold 8 contracts of DIA Iron Condor. Capital outlay = $1,600. Possible credit = $679.

On 21/6/13 when Dow keeps dropping around 300 points, position earns about $200.

On 24/6/13, the 8 X bear call spread portion of the DIA iron condor was closed at the limit price of $0.20.

I've decided to close the rest of the positions on 24/6/13, and captured a profit of $154 ($259 - $105 commissions).

Profit of $154 out of the risk capital of $1600 comes out to be about 9% gain for a trading period of about 1 month.

Yours Truly,

Tony Chai

PS. You can find out more on how to set up an 'Uncle Joe' iron condor position over here.

Update on my July 13 DIA Iron Condor Option Position

2013-05-25T08:24:00.002-07:00

Dear fellow options traders,

On 21/5/13, I've established a new DIA Iron Condor position using The ‘Uncle Joe’ Iron Condor Trading Plan.

Sold 8 contracts of DIA Iron Condor. Capital outlay = $1,600. Possible credit = $679.

As of 24/5/13, I've made some adjustments to my iron condor position from what I've learned from the Iron Condor Course by widening the wings at both ends of the iron condor. This helps to lift the current white profit line at both ends of my iron condor option position considerably.

As usual, I will monitor my iron condor option position daily and apply the adjustment techniques when necessary.

Yours Truly,

Tony Chai
Option Trader (Singapore)

My new Jul 13 DIA Iron Condor Option Position

2013-05-23T23:50:00.003-07:00

Dear fellow options traders,

On 21/5/13, I've established a new DIA Iron Condor position using The ‘Uncle Joe’ Iron Condor Trading Plan.

Basically, the technique is to establish a iron condor options position which has at least 50 to 60 days till expiration, instead of the normal 30 days till expiration options.

Advantage :
1. better premium collected

Disadvantage :
1. higher capital outlay for setting up such a position.
2. because the position has a longer period till expiration, you may likely adjust the position during the life span of the iron condor.

But the iron condor course provides many techniques (a total of 10 techniques) on how to adjust the iron condor position to minimize further losses and could also turn the position around.

Sold 8 contracts of DIA Iron Condor. Capital outlay = $1,600. Possible credit = $679.

I will apply the adjustment techniques when necessary when the live price starts to threaten the determined maximum pain point.

Yours Truly,

Tony Chai
Options Trader (Singapore)

Update on my May/June 13 IWM Double Calendar Option Position

2013-05-20T06:55:00.000-07:00

Dear fellow options traders,

On 19/4/13, I bought 8 contracts of IWM Double Calendar. Capital outlay = $1,432. Possible credit = $1,111.

The stock market kept moving up in a bullish trend. I have adjusted the double calendar position once.

However, the price surpassed my determined maximum pain point and I was hoping the price would retreat. It didn't.

*** You can subscribe to the free newsletter in the above link to understand how to determine your maximum pain point level - the price level that you really need to consider adjusting your iron condor position.

Thus, I decided to close the original plus the adjusted IWM Double Calendar positions on 15/5/13. This incurred a loss of $1256 plus commissions of $112.

If I had held on my position till the option expiration on 17/5/13, I would have lost more because IWM has reached a new high of 98.99.

Yours Truly,

Tony Chai

Update on the DIA Iron Condor option position

2013-05-11T22:31:00.000-07:00

Dear fellow option traders,

Here was the iron condor positions established on 19/4/13 :

Sold 8 contracts of DIA Iron Condor. Capital outlay = $1,088. Possible credit = $512.

The US stock market kept moving up. The Dow Jones Industrial Average reached 1,4973.96 points on 3/5/13. The SP 500 kept touching record high and reached 1,614.42 points on 3/5/13.

My DIA 138/140 bull put spreads reached their contingent buy back level and were closed on 30/4/13.

But I've made a few bad adjustments, in particular :

I was following this iron condor adjustment technique to buy some calls on the losing side of my iron condor. But I've mistakenly bought back some of the sold sides of my original bear call credit spread (ie. the 148 Calls) instead. It was a mistake but another great lesson learned as always.

Following the same iron condor course guidelines, I've placed some additional adjustments to minimize the loss incurred from the wrong adjustments. The course thus helps guide me to decide what to do when things go wrong with my iron condor option trade.

Thus when the market kept going up, I closed my DIA iron condor on 7/5/13 when there were minimal damage (at one point I was losing hundreds). I lost $48. But the wrong adjustments and remedy adjustments incurred a total commissions of $145 for the whole position.

I hope to be profitable in my next iron condor trade.

Yours Truly,

Tony Chai

New IWM Double Calendar and DIA Iron Condor

2013-04-21T05:39:00.001-07:00

Dear fellow option traders,

On 10/4/13, the S&P 500 closed at a record high of 1,587.73 - eclipsing the record reached on March 28, when it climbed above the Oct 9, 2007, milestone of 1,565.15. It has since drifted down to 1555.25 points on 19/4/13.

Here are the 2 new positions established on 19/4/13 :

Sold 8 contracts of DIA Iron Condor. Capital outlay = $1,088. Possible credit = $512.

Bought 8 contracts of IWM Double Calendar. Capital outlay = $1,432. Possible credit = $1,111.

Yours Truly,

Tony Chai
P.S. You can test drive one of the latest iron condor course here!

Update of my option trades - IWM Double Calendar and SPY Iron Condor

2013-04-20T04:02:00.003-07:00

Dear fellow options traders,

Updates for the option positions established on 15/3/13 :

On 15/3/13, I've sold 5 contracts of SPY Iron Condor. Capital outlay = $625. Possible credit = $375.

On 1/4/13, the limit order to buy back the SPY Apr13 151/149 at $0.10 put spread was activated.

What's remained was to wait for the limit order for the SPY Apr13 158/160 call spread to be triggered. But by 13/4/13, which was 2 days before expiration, the limit order was still not activated. I thus have to buy back the SPY Apr13 158/160 call spread at a loss of $14 per contract.

Thus, the total loss for the SPY Iron Condor position was actual breakeven but I've incurred $60 for the commissions for setting up the positions and closing the positions.

Update for the 5 contracts of IWM Double Calendar bought on 15/3/13, where capital outlay = $695. Possible credit = $480.

This was another painful lesson learned. When the price of the IWM was moving down from 12/4/13, I've set up the limit orders to sell my adjusted double calendar position established on 4/4/13 and my initial double calendar position that was established on 15/3/13.

The limit order for the adjusted double calendar position was activated but the limit order for the initial one was not.

The significant lesson learned was, the initial IWM double calendar position was in profit with at least $200 on 12/4/13, I should have just closed out the position quickly instead of depending on the limit order to do the job.

What ensued was that I watched the IWM price tumbled from 93 to 89 from 10/4/13 to 18/4/13 and my initial IWM double calendar position turned from a profitable position to a loss of more than $200.

Thus, on expiration day, I bought back my initial IWM position, for a total loss of $310 plus $100 commissions.

Lesson learned from this IWM double calendar position :

When you have registered a profit about a week or a few days before expiration, close the position. Do it manually if you have to. Don't rely too much on the limit order if you want to close out a position quickly.

The other lesson learned was, HOPE is a dirty word in trading. When your position has crossed your tolerable sell out price point, close the position at a smaller loss. Don't hope for the position to turn around, especially when there is insufficient time at your side (ie. days within expiration date).

Yours Truly,

Tony Chai

My trades so far...

2013-04-10T06:46:00.000-07:00

Dear fellow option traders,

Here was the trade that I had established back in 15 Feb 2013 :

On 15/2/13, I sold 5 contracts of DIA Iron Condor. Have adjusted once. Bought back the Mar13 143/145 Call spread and extend the upper price range by selling 5 nos. of Mar13 144/146 Call spread.

On 11/3/13, I bought back the Mar13 137/135 Put spread at $0.05.

On 27/3/13, the DOW dropped 90 points when market opened.I bought back the Mar13 144/146 Call credit spread at $0.67 (on previous day the price closed at $1.23 because the DOW rose 110 points)

This has taught me an important lesson. I've grabbed the opportunity to close my trade with a smaller loss when it was presented to me.

Total position loss = $150 + $100 commissions.

As for the updates for the positions established on 15/3/13 :

On 15/3/13, I've sold 5 contracts of SPY Iron Condor. Capital outlay = $625. Possible credit = $375.

I've placed limit orders to buy back each leg of the credit spread. (as above)

As for the 5 contracts of IWM Double Calendar bought on 15/3/13. capital outlay = $695. Possible credit = $480.

On 4/4/13, I added another IWM Double Calendar on top of the existing one because the downside breakeven was breached :-

ie. Sold IWM Apr13 93 Put & Bought 5 IWM May13 93 Put (this position was breached).

Yours Truly,

Tony Chai

EU Bailout - Cyprus impose bank levy

2013-03-23T19:00:00.000-07:00

Dear fellow traders,

Yours Truly,

Tony Chai

How to find the capital outlay for putting up a double calendar option trade

2013-03-20T06:10:00.004-07:00

Dear fellow option traders,

To find out the capital outlay of putting up any trade, for instance, the double calendar - in the TOS (ThinkorSwim) platform :

1. Go to Monitor tab, select account statement.

2. Change the date view accordingly to the date that you wish to locate a specified trade

3. Select the trade that you want to check the capital outlay, right click on it, select "Analyze Duplicate Trade"

4. You'll be brought to the Analyze tab. Look at the "Price Slices" section. In the "Live" price row, look at the amount indicated under the column of "BP Effect". This will give you the capital outlay required for putting up the position, in this case, it's a double calendar position.

You will realize that for a double calendar position, the other way to know the capital outlay required would be to multiply the debit used to buy the double calendar position and multiply this amount by the no. of contracts.

Hope you find the above information useful.

By the way, the customer service at the ThinkorSwim platform is excellent. They are very knowledgeable in their trading platform and can provide you with very comprehensive steps explicitly.

Good Trading,

Tony Chai

Progress of option trades so far

2013-03-19T06:15:00.002-07:00

Dear fellow option traders,

Here were the 2 trades that I had established last month :

Sold Iron Condor with DIA. 5 contracts. Have adjusted once. Bought back the Mar13 143/145 Call spread and extend the upper price range by selling 5 nos. of Mar13 144/146 Call spread.

On 11/3/13, bought back the Mar13 137/135 Put spread at $0.05.

As for the Double Calendar established with IWM on 16/2/13 with 5 contracts :

I sold the double calendar position at $2.01 for a profit of $170 (excluding commissions).

At the same time, established 2 new positions on 15/3/13 :

Sold Iron Condor with SPY. 5 contracts. capital outlay = $625. Possible credit = $375.

Bought Double Calendar with IWM. 5 contracts. capital outlay = $695. Possible credit = $480.

Yours Truly,

Tony Chai

Option Trading Course

2013-02-17T06:21:00.000-08:00

Hi fellow options traders,

I've also started revising this home-based option trading video course that I've invested 3 years ago. Basically this options guru taught a way to earn residual income by :

1. buying double calendar
2. selling iron condor

The good thing is : just 2 option trading strategies that an option trader can focus, practise and perfect upon until the trader can earn a residual income from the strategies eventually.

I also found the videos on adjusting positions important and useful in salvaging the positions when the price goes too near the breakeven price level.

Here's my paper trading results so far. I will practise more before I trade with real money.

Iron Condor trade with DIA. Profit of USD165 with 3 contracts. Adjusted position once.

Double Calendar trade with EEM. Profit of USD21 with 3 to 5 contracts. Adjusted position once.

Iron Condor trade with SPY. Loss of USD260 with 10 contracts. Adjusted position 3 times (SPY just kept reaching the breakeven points and I have to roll the bull put spread upwards).

Here are the 2 trades that I've just established :

Sold Iron Condor with DIA. 5 contracts.

Bought a Double Calendar with IWM. 5 contracts.

You can find out more about this home based option trading video course here. Hope you find it useful too.

Yours Truly,

Tony Chai

Started my options trading

2012-11-12T18:13:00.004-08:00

Dear fellow traders,

Recently I have started paper-trading options again. I want to brush up my skills and build up my confidence before I trade with real money. I wish to express my Thanks to Trader Travis from http://www.learn-stock-options-trading.com/ for sharing his precious knowledge with me.

Although I have to admit my trading methodology and trading style are not following exactly what Trader Travis has taught, the tools and the trading psychology that he has shared have helped me immensely in my decision making in these trades.

I truly hope the profits I have obtained from my paper trading can transpire into my live trading soon.

Yours Truly,

Tony Chai

The Next Financial Crisis

2012-09-29T23:47:00.002-07:00

Dear Fellow Traders,

This is a great documentary that foretell the next financial crisis after the sub-prime mortgage real estate crisis in 2008.

Yours Truly,

Tony Chai

Greek Election Impact On The Market

2012-06-16T19:03:00.000-07:00

Hi fellow traders,

Investors waited with bated breath about the outcome of Greek Election this Sunday on the global market reaction on Monday.

The US CBOE Volatility Index (VIX) has gone up during the past few weeks. Markets were volatile amidst events like : the dismal US non-farm payroll report for May 2012, Spain's banks bailout, speculation of whether Greek's voters will choose the leftist Syriza party who opposes the austerity measures, and how Greek's possible exit from Euro-Zone will affect other members of the European community, the USA economy and of course, how the global markets is going to be affected.

Yours Truly,

Tony Chai

Gold Rose More Than USD60 on 1 June 2012

2012-06-02T02:45:00.000-07:00

Dear fellow traders,

Gold has been hovering below the 150 Days Moving Average (DMA) since the beginning of March 2012, a stark difference with the bullish movement that Gold enjoyed back in 2009 to 2011, when Gold even hit USD1900 an ounce in Sep 2011.

But surprisingly (or it has been waiting for this moment), Gold price shot up more than USD60 on 1 June 2012 to end at USD1621.80 an ounce.

This could be largely due to the dismal May US jobs report, where U.S. Economy created only 69,000 jobs in May 2012, the fewest in a year; and the unemployment rate ticked up to 8.2%. There are also other factors involved - Europe's spiraling debt crisis where Spain's bank crisis deepened and confidence waiver with the spike in Italian benchmark bond yields.

The Dow Jones Industrial Average had its worst hit this year on Friday, 1 June 2012, shredding 274.88 points (2.2%) to 12,118.57 points. The DOW has officially dropped below the institutions observed 200 Days Moving Average with this move.

Yours Truly,

Tony Chai

The S&P 500 at 4-Year High

2012-03-26T22:25:00.004-07:00

Dear fellow traders,

At the end of the trading day 26 Apr 2012, The Standard & Poor's 500 Index (S & P 500) gained 19.40 points, or 1.39%, to 1,416.51 (19 March 2008 High was 1,414).

The Dow Jones industrial Average (DOW) was up 160.90 points, or 1.23%, to reach 13,241.63. The tech laden Nasdaq Composite Index (NDX) climbed 54.65 points, or 1.78% , to 3,122.57.

Mr Ben Bernanke, Chairman of the Federal Reserve (the Central Bank of USA), spoke to a conference at the National Association for Business Economics, that the FED will consider further, supportive monetary policy aka QE3 (quantitative easing) to faciliate the expansion of production and demand from consumers and businesses.

In his talk, Mr Bernanke said the USA economy needed to grow more quickly if it is to produce enough jobs to lower the high unemployment rate of 8.3%.

The S & P 500 has been up 25% since the end of September last year, mostly on the optimism of the continued economic growth. With stimulus from the Fed and an improving economy, the conditions for the stock market to go up further is hopeful.

Yours truly,

Tony Chai

ETP System Auto Trading Program - A Review

2012-02-20T05:02:00.006-08:00

Dear fellow traders,

Auto trading has gained popularity during these recent years among traders. In fact, many big financial institutions have been using system programs to trade accounts in the sum of millions or even billions of dollars in trading mutual funds and also in hedge funds.

According to Wikipedia, a special class of algorithmic trading is the "high-frequency trading" (HFT), in which computers make elaborate decisions to initiate orders based on information that is received electronically, before human traders are capable of processing the information they observe. As of year 2009, HFT firms account for 73% of all US equity trading volume.

Retail traders who commit the majority of their time in their day jobs or with their family, hardly have the privilege to sit down in front of the PC to trade. Thus, at times they missed out some good trades when they do not have the opportunity to enter their trades. It could also spell trouble for traders who are not used to setting stop losses in their trades, to see their trading capital vapourized when they are unavailable to close out their losing trades. With the fear of mounting losses in their trades, this also drastically effect their concentration in whatever they are doing (eg. in their job) that have prevented them in closing their trades.

That’s where the advantage of auto trading comes in. An auto trading system enables you to simply install a trading system in your trading account and you just let the system trade your account on its own. You code in the entry criteria for the system to enter the trades. At the same time, you can also program the exit rules to either stop loss a losing position, lock in your targeted profit or to let your profit run.

This type of auto trading, or system trading, helps to free up your time to monitor your trades; especially if you are trading an instrument that is traded almost 24 hours a days, 5 days a week, for instance, forex trading. At the same time, you will not likely to miss out some of the good trades during times when you are not available in front of the trading screen, like when you’re at work or when you’re asleep. With automatic trading, the trades will be triggered automatically by the auto trading program when the entry criterias that you have coded are met.

For instance, the auto trading workshop that I have recently attended even allow us to adjust the entry criteria of my trading codes to adapt to the ever changing market conditions. This is because the trading program provided by the ETP Trading System is white box. This means that the trading rules are all transparent to the attendees. We have the ability to change the trading criterias that we see fit according to the current market conditions.

I wonder whether you are aware that most of the forex auto trading robot that are sold in the internet are black box. These system may have work well in the past. However, after you’ve bought the black box system and realized that when they stop working in the current market conditions, you are helpless and only see yourself keep losing your precious trading capital. You are practically under the mercy of the programmer who sold you the black box trading robot of whether he would ever provide an upgrade to the trading program. Since it is black box, you can’t make any adjustment to the codes. And even if you want to, you probably won’t understand how the codes work. At least with the ETP automatic trading set file, we understand exactly what our entry criterias are and at what point we cut our loss or take profit. The ETP auto trading system is white box. You are able to amend these criterias as and when necessary.

The other thing I like about the auto trading program taught by ETP System is that it even allow traders to input the money management and risks management criterias. As most seasoned traders know, money management is an important discipline that has to be adopted right at the beginning if you aspire to be a professional trader in the long run. Money management basically means that you allocate an appropriate percentage of your trading capital for every trade, irregardless whether you are winning money or when you have encountered a series of losing trades. Disciplined money management will prevent you from blowing up your account trading bigger lot sizes to recover your earlier losses. As we all know, you could very well lose everything in this last bet of yours. The money management criterias that are built into the ETP trading set file will safe-guard traders right at the start. You can enter a specified lot size for every trade to remove the temptation of over betting your trading account. As mentioned, you can input these criteria according to the risks/rewards tolerance that you are comfortable with.

Talking about trading emotions, auto trading program helps to eliminate the twin tower emotions of fear and greed that most traders face. The program executes the trade when the entry signals are satisfied. This eliminate the hesitance that some traders encounter, especially new traders, who are afraid to enter a trade when the signals appear. On the other hand, there are some traders who tend to over analyze a trade too much. The trade would then become risky if they enter too late after much pondering. There’s also the indecision that most traders face with a losing position. But with auto-trading, the program will just terminate the trade when the specified stop loss is hit. This is more sensible compared to getting yourself nervous hanging on to a losing trade, hoping and praying that the trade will turn around; which may never happen.

The flip side of the emotions of fear is about greed. I believe many traders have moments when they want to hang on to their profitable trades as long as possible to squeeze more profits from the winning trade. But they become immobilized when their trade suddenly turned around. They stubbornly hang on to their trade only to see their trade turned into a losing trade instead, just because they want to gain back the profits they saw earlier. At least with the ETP auto trading set file, you can set the initial profit target that you wish to stick to. You can also set the minimum profit that you want to see before the system triggers a trailing stop loss and profit target. Thus, in the event when your trade turns sour, you will at least protect some of the profits accumulated with the trailing profit & stop loss setup. As mentioned, the ETP trading codes is a white box system. You can amend these stop loss and profit criterias according to your trading risks appetite.

The other important component that the ETP auto trading program handle is Risks Management. You are able to program whether you want additional trades to be triggered to salvage a losing trade. This helps you to at least achieve break-even or even gain a small profit when your initial trade start to turn favourable. The risk management also take into considerations additional stop loss measures that you may want to implement to better protect your trading capital in case you are a more conservative trader. You live to trade another day as long as you have your capital at hand. As usual, you are able to adjust the risks management criterias in the ETP set file.

Thus, the ETP auto trading program takes care of 4 important pillars of a good trading system, namely : entry management, exit management, money management and risks management. Since the ETP auto trading program codes is a white box trading system, you will attend a 2 full-days weekend workshop where the specified criterias in all the 4 critical components of the auto trading program will be explained to you. In the workshop, you will also learn how to amend these criterias to suit your trading style and your risks/rewards appetite. There are many group activities in the workshop to keep the session lively. These activities also help you to absorb the materials better from practical application rather than just going through the workshop notes. After this 2 days workshop, you are also able to attend the ongoing basic and advanced workshops on specified weekday evenings to refresh what you have learned and to learn advanced skills in adapting the ETP auto-trading set file to your trading requirements.

The ETP auto trading workshop is taught personally by Mr. Marcus Lau. Marcus is a former Director and shareholder of an MNC. He is a seasoned investor with more than 11 years of solid investing experience. Personally, I find Marcus to be a very knowledgeable and dedicated speaker. He has an in-depth knowledge of the ETP auto trading system. Most importantly, he is able to explain the intricate criterias of the 4 components of this trading program clearly and patiently. I also like the way he injects some humor and sometimes relevant anecdotes during the workshop to make the learning session more alive.

You may also be keen to know that the ETP auto trading system allows you the flexibility to trade a variety of trading instruments, including foreign currencies and commodities like gold, silver and even oil.

Give yourself an opportunity and check out whether the ETP auto trading program suits your trading requirements. You can check the latest preview dates here.

You can call +65 8188 7488 or
register online at : http://www.etpsystem.com/

Location :
10 Anson Road #19-14,
International Plaza,
Singapore 079903
(above Tanjong Pagar MRT)

Good News!! If you decide to sign up for the 2 day workshop after seeing this review, the organizer has specially allow me to offer you the following discount code to you so that you can grab a S$250 discount off the workshop costs. But this discount code is not going to last forever. Thus, I would like to advise you to take advantage of this discount code to claim your S$250 discount while it is still available.

The discount code is : 08009J

Personally, I feel that its worth investing 2 hours of your time to attend the workshop preview to at least decide whether you want a trading system that can free up your quality time for your other commitments. At the same time, determine whether the ETP auto trading system can fulfill your trading objectives, your trading lifestyle and the risks/rewards tolerance level that you desire.

*** Latest *** - You can view the status of my live ETP Trading over Here..

Remember to inform the organizer about the discount code : 08009J so as to grab the S$250 discount during registration!

Good Luck with your trading!

Tony Chai

Facebook IPO

2012-02-01T23:49:00.001-08:00

Dear fellow traders,

Facebook, the most popular and biggest social network site on earth, with 850 million users world-wide, has filed papers to the SEC to go public for an IPO which can raise up to US$5 billion dollars. Facebook is valued to be worth at least US$100 billion as of today.

If this IPO creates excitement like its predecessors including Google, Yahoo!, Groupon, Lnkedln etc, Facebook will probably sell its shares at a premium. That could mean an IPO price in the $35 to $40 range.

Regards,

Tony Chai

S & P downgraded 9 Euro-Zone Countries

2012-01-15T01:55:00.000-08:00

Dear fellow investors,

Over 13 Jan 2012, Standard & Poor's, U.S.-based ratings agency, downgraded the credit ratings of 9 euro- zone countries. These 9 euro zone countries include Italy, Spain, Portugal, Cyprus, France, Malta, Slovakia, Slovenia and Austria They were stripped of their AAA status either by 1 notch or 2. But Germany is spared from this credit ratings cut.

The agency cited the reasons that the European community had not adequately "address ongoing systemic stresses in the eurozone" - which encompass issues like the tightened credit conditions, rising risks premium, weakened economy growth etc.

The ratings agency mentioned that austerity and budget discipline adopted by the euro zone are insufficient to handle the debt crisis.

But French Finance Minister Francois Baroin said there was no cause for alarm and assured that "This is not a catastrophe. But it's not good news,"

In addition, the fate still hangs in the air for Greece, as Greek negotiators said that debt swap by private creditors remained unresolved. Negotiators were less optimistic and raised doubts over the take-up rate of any voluntary deal.

In Dec 2011, The European Central Bank infuse the banks with cheaper 3 year liquidity that helped ease a worsening credit crunch. This provided funds for the market to buy sovereign bonds.

Chairman of the S & P ratings agency said that preserving the AAA status of France would require the increased commitments from the 4 remaining AAA-rated guarantors, namely Germany, Finland and the Netherlands. But this move could be politically unpopular.

The following video explains the meaning of "Austerity Measures" :

Regards,

Tony Chai

How To Trade Gold and Oil Commodities Now

2011-10-20T19:05:00.001-07:00

Dear fellow traders,

Regards,

Tony Chai

Gold to Drop to $1,300 an Ounce and Commodities to Fall?

2011-10-12T22:02:00.000-07:00

Dear fellow investors,

Regards,

Tony Chai

Steve Jobs Has Stepped Down As CEO Of Apple, Inc

2011-08-26T01:31:00.000-07:00

Dear fellow traders,

*** RIP, Mr Steve Jobs ***

Performed on Ipad using MorphWiz along with the Korg Kronos.

----------------------------------

On 25 Aug 2011, Mr Steve Jobs announced his resignation as Co-Founder & CEO of Apple, Inc. - now the most richest company in the US which currently has more money than the U.S. government.

He will remain with the company as chairman. Tim Cook is promoted from chief operating officer to chief executive officer.

Yours Truly,

Tony Chai

Dow plunges points, touted as the 6th-biggest point loss

2011-08-08T18:31:00.000-07:00

Dear fellow traders,

On Monday, 8 Aug 2011, the Dow Jones industrials plunged 634 points (more than 5%) to10,809.85 amidst it's recent debt ratings downgrade by S&P Ratings Agency and the escalating European debt turmoils, now threatening even Italy & Spain. The Asia markets were not spared. Earlier on, the Korea stock market fell 4% while the Japanese market lost 2%. In Europe, Germany's shares market lost 5% and France suffered a 4% drop respectively.

On Monday, the S&P also downgraded the credit ratings of Fannie Mae, Freddie Mac and other government agencies that depend on the creditworthiness of the US federal government.

The S&P 500 fell 79.92 points (6.7%) to 1,119.46 while the technology-laden Nasdaq composite index fell 174.72 points (6.9%) to 2,357.69.

Investors sought refuge in Gold, which has topped US$1,713.20 per ounce. Crude oil, natural gas and other commodities fell sharply on worries that a weaker global economy will mean less demand. Oil fell 6.4% to US$81.31 per barrel, its lowest price for 2011.

Yours Truly,

Tony Chai

Dow plunges 500 points on 4 Aug 2011

2011-08-08T02:54:00.000-07:00

Dear fellow traders,

The credit rating agency Standard & Poor has lowered U.S. long-term debt rating one notch from AAA to AA+ on 5 Aug, 2011. But S&P has been pointed out of a $2 trillion error in its estimate of the size of the deficits over the next decade. It was said that the agency made a fundamental error in interpreting the budget projections of the Congressional Budget Office.

The plan that the Congress had passed on the 11th hour to raise the debt ceiling on Tuesday, 2 Aug 2011 could achieve between $2.1 trillion and $2.4 trillion in deficit cuts. But the S&P had warned for months of a possible downgrade and said that a credible plan would need to achieve $4 trillion in deficit reduction.

The Dow has already plunged more than 500 points on 4 Aug, 2011 amid fears of USA economic slowdown and Europe's debt crisis. European officials are trying to help Italy, the world's eighth-largest economy, to avert the kind of bailouts that Greece, Portugal and Spain were forced to accept to prevent them from defaulting on their debt.

Yours Truly,

Tony Chai