In support of my prediction for the Dow's rise tonight...

1. Many Dow stocks are oversold, as indicated by their RSIs falling below 30, including two of the biggies, General Electric and General Motors:




















A sampling of the others:
Exxon Mobil:
















IBM aka Big Blue:



















Microsoft:


















Citigroup:

















Altria:




















Pfizer:















Home Depot:
















Verizon:



















2. Most Asian stock indices show buy signals:























3. The unravelling of Yen carry trades, which have been blamed for most of the current turmoil, seem to be abating, with the yen surge over the past few days looking to retrace heavily.



















I am euphoric today, as I had punted heavily on the call-warrants of Malaysian blue-chip companies,namely Telekom Malaysia, YTL, and just yesterday, Maybank and Bursa Malaysia, hoping for a short profit, only to see massive paper losses as at yesterday's force-selling induced closing prices.

Today, I had a ball, as all these warrants(and others) surged:


Bursa -CB rocketed 47.6% and I pared off three-quarters of yesterdays purchases for a profit;

Maybank -CC surged 35.5% and I sold all I had bought yesterday for a bigger profit;

TM-CC forged ahead 32.3% and I also disposed of all my purchases yesterday, the smallest gain among the four;

Lastly, YTL-CA went ballistic, up by 72.7% and I sold all my 31,000 contra shares for a sizeable profit.

All in all, I cleared RM28 000 of contra positions in my margin account.

In Singapore, I entered Hengxin at 53c and Longcheer at 61.5c.