Ann: Operations Update Thailand , page-13

Tcissboss,

I am not discounting events in the US. You just have to ask now when they dip 5% was that for a reason we share. Today our market rightly said no.

I was listenening to some of Geithners inquisition on CNBC this morning, and I really did not get there market reaction. Mind you I never got the reason for any of their recent rallies either. They have these awful foreclosures everywhere, they have the dissapearance of all those ridiculous salaries in financial services, collapse of one of their main manufacturing industries, etc etc.

What do we worry about? A recession, and the return of iron and coal prices to something aboves 2007s lucrative ones. OK base metals are shot.

Back to the panic selloffs. I am not trading them, but trying to use them to lightly accumulate in a safer manner. I was glad to see with CVN today that buying quickly came back in once people saw it was not going to fall further. Supports my view that CVN market making now set by those with a solid grasp on the fundamentals.

This market is not for broad trading imho, safe now for stock picking, but you do need to get it right and be patient imho.

EL