Posted by Kris | Tuesday, October 07, 2008 | | 0 comments »

One of the tech stocks under my radar, ALTERA is moving higher for today after yesterday's plunge. Yesterday might be the reversal candlestick that everyone is looking for.

Major banks are scrambling to "help" aka bailout respective troubled companies in their own heartland. Australian central bank has lowered their interest rates ad mist economic pressures.

This is the first, it seems that major central banks are "working" with each other to curb this financial crisis. I wondered where was this "spirit of corporation" during the 1999 Asian Financial Crisis where Asian countries were left to rot and fester.

Now, it is the Asian countries that is lending help to Old Uncle Sam. The Korean, Japanese and even Singaporean are heavily buying a cheap stake into the distressed US financial companies. So far , we have not yet see any moves by the awakened dragon aka China. US politicians has always been sensitive towards China's growing economic might. US senators objected China's proposal to buy an US based oil-drilling company causing the deal to fail mid-way. Well in the end, always remember this word..PROXY.

It is well known that the Chinese Govt has encouraged its people to invest abroad during its awakening. You never know that some proxy companies owned by the chinese might be controlling an US based multinational company.