20090112

The WIG Index continued his fail:

wig_20090112

Today's session also negates target from triangle (we probably will also have to alter the upper trendline). Some forums' users and bloggers are convinced this is the bottom of the market, but overall situation is confusing. Let's wait for 29600 or 24100.

The transit of natural gas to Europe should be soon restored, as Ukraine and Russia reached agreement (here).

There are tons of information about Madoff's scam already in the Internet, however there is an interesting document floating around  (here), titled "The World's Largest Hedge Fund is a Fraud". Interestingly, this paper has been sent to SEC in 2007.

Brian's daily video here (quite pessimistic whatsoever).

Sources:
[http://online.wsj.com/documents/Madoff_SECdocs_20081217.pdf]
[http://seekingalpha.com/article/114041-america-is-this-the-end-of-an-era]
[http://www.marketwatch.com/news/story/Russia-Ukraine-reach-deal-natural/story.aspx?guid={730CFC71-1681-4CB9-B4CB-7AB0593A615B}]

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