$RIMM . Hitting a road block in Indonesia

In South East Asia, Indonesia is perhaps the fastest growing market for RIMM.

But, the following news does not sounds good:

Research In Motion (RIM) has cancelled its investment plan in Indonesia due to tax issues. RIM believes it would be taxed twice, both in Indonesia and Canada. However, Edy Putra Irawady, deputy coordinating economic minister for trade and industry said this is not actually the case as Canada and Indonesia cooperate to prevent such situations, the Jakarta Post reports. RIM reportedly has decided to invest in Malaysia instead. (Source : Telecompaper)


Singapore banks in bearish territories.

All 3 Singapore banks (UOB, DBS, OCBC) are in bearish territories in the Ichimoku charts.

If Singapore is a financial hub and the banking stocks is a reflection of the economy, then the charts are clearly showing the significant resistance ahead.

I expect tough times ahead in 2012.




UOB with support at $16.85 and resistance at $17.21




OCBC with support at $8.03 and resistance at $8.28




DBS with support at $11.77 and resistance at $12.21


$TLT . 110 PUT.


I believed TLT is overbought in the short term.

Looking at the parabolic rise and that it may break the support, I have a speculative Sept 110 PUT on TLT.

My bet is that it will break support within 1 week.

However, given the volatile market conditions and the bigger economic concerns from Europe, Libya etc, I am keeping a close watch on it with a tight stop lost in place.

Note: This is a speculative move on my part. There is no confirmation from the chart that TLT has turned bearish.