AP Queen and Daddy’s Son Lost – Wait, All is Not Lost Yet

American new home sales rose 4.7% in Feb but were still the second-worst on records dating back to 1963. Compared to Thomson Reuters expectation of sales fall of 300,000 units this little news was enough to push the Dow Jones into the green territory – up 160-points at the time of writing. However noting that the Dow is fast approaching the resistance of 8,000-pointsit’s wise to take whatever profits you’ve gained over the last couple of trading days when the Dow breached the 7,000 from 12-year-low level. As much as I would like to believe the Dow could shoot 7,000 and then 8,000 from 6,000-plus without taking a rest, the probability isn’t there.

Hence, I’m taking some money off the table from my AAPL Apr 105 Call Option of which I was thinking of scalping but decided to let it run after the trading pattern pointed to a sustainable bull-run. But the current level is fast approaching resistance and the trend could reverse anytime now so I’m chicken out *grin*. Remember the saying that Bull and Bear make money but Pig gets slaughtered? There’s no harm to put your money into the casino again should the Dow could miraculously go above 8,000 and stays thereafter. So for the time being only the braves would place their money betting a continuous rally. Furthermore it seems $110 is the immediate resistance for Apple Inc. (Nasdaq: AAPL, stock) for the time being.

It seems the Iron Lady Rafidah Aziz, better known as the AP (Approved Permits) Queen, is out when her younger deputy Shahrizat Jalil successfully kicked her out with a stunning 507 votes against Rafidah’s 280 votes. Compared to Rafidah who was seen as one of the untouchable warlords who commanded the powerful Ministry of International Trade and Industry, Shahrizat was seen as someone who could not make important decision and needs to consult many bosses. There were many incidents when her male-colleagues made fun (or rather sexy remarks) of women but surprisingly Shahrizat went into hiding and emerged only after the dusts have settled. Ever since Rafidah’s portfolio was given to Muhyddin Yassin, it was as good as gone for the Wanita UMNO movement.

Shahrizat may have won the new Wanita head post but it’s almost definite she won’t be able to get back the powerful Ministry of International Trade and Industry portfolio, not that she is capable of such an important post in the first place. She won’t be the next AP Queen so Rafidah can claim the consolidation prize. Rafidah can also scream that she was the only (former) and the last Wanita head capable of taming the ministry portfolio. But then Shahrizat is an obedient follower (of UMNO President) so it doesn’t really matter. As long as there’s a minister-ship for her, she is happy and contented. Maybe there’s good side to Rafidah’s losing. Her political career has almost reaches the ending which means she now can spend more precious time at London shopping, not to mention more time collecting rental from her property empire.

It was indeed the saddest moment when the keris player, Hishammuddin Hussein, decided to quit playing the game altogether. He merely kissed the keris. This is no fun at all since thousands of delegates have travelled hundreds of miles to the capital just watch him wave the weapon hysterically. It was one of the climax shows on earth and for the 59th UMNO General Assembly to not have such antics is like travel to Beijing without trying the Peking Duck. It simply doesn’t make sense at all since it was a traditional recipe in every UMNO General Assembly menu. And now this great actor is telling everyone he’s taking the keris back home so that nobody can imitate him. That’s absurd because such “tourists-attraction” event should be continued and encouraged. Already the delegates are not as joyful as before since UMNO-led coalition lost the two-third majority so a little entertainment should be allowed. Hishammudin should not monopolize the game and throw in the towel whenever he wishes. He’s simply selfish.

The UMNO Youth fight was initially between outgoing PM’s son-in-law Khairi and former PM’s son Mukhriz with the tainted former Selangor Chief Minister Khir Toyo out of the race. The latest news was that Khairi has managed to snatch the throne from daddy’s son Mukhriz when he polled 304 votes although the early unofficial counts showed Mukhriz won by razor-thin majority of 12-votes. This could send the former dictator Mahathir’s heart beat twice the speed should the news reaches his ears. Mahathir was played out by Abdullah Badawi once and he doesn’t have much time to wait for the next opportunity should his son fails to sit on the throne (UMNO Youth Chief). At least that’s something a good daddy can do for his beloved son before he “retires” peacefully. But it seems everything is so gloomy now that Khairi has stolen the thunder from his son. However with some phone-calls the UMNO discipline body could declare Khairi is corrupt and the championship switches to *drum please* Mukhriz Mahathir. Najib has lots of explanation to do.