Daily Techical Outlook − Wednesday 03.25.2009
Wed, Mar 25 2009, 07:12 GMT
EURUSD
The Euro continued to retrace on yesterday, testing bids into the 1.3430 zone, switching focus towards bearish objective at 1.3330. Minor support is formed into the 1.3415/30 zone backed by the more important barriers at 1.3330, 1.3240 and 1.3095/00 - February's top - lower. On potential rallies, the Euro will face resistance at 1.3600 then higher, at 1.3740/50 and 1.3855. Downside will probably stay under pressure for now and a break above 1.3600 is needed to resume uptrend. Intra-day studies are bearish at the time of this writing. Current quote is 1.3473 @07:10 GMT
Support levels: 1.3415/30, 1.3330, 1.3240 and 1.3095/00.
Resistance levels: 1.3600, 1.3740/50, 1.3800 and 1.3855.
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : bullish
AUDUSD
The .6950 intra-day support is under pressure at the time of this writing but the daily sentiment remains bullish as there is enough room on the downside for an extended correction. Below .6940/50, subsequent downside barriers are seen at .6900, .6850 - February's high - and .6700 which has to remain stable in order to maintain the short-term bullish structure intact. Intra-day momentum is bearish at the time of this report. Current quote is .6966 @07:10 GMT
Support levels: .6945/50, .6850 and .6700.
Resistance levels: .7000, .7100, .7135 and .7265.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish
EURCHF
The Euro continues to advance lower vs the Swiss Franc, testing the interim support on the 1.5200 handle. Below 1.5200, next important objective emerges at 1.5010 - the 50% retracement of the 1.4575-1.5445 up leg. On the upside, resistance starts at 1.5290/00 followed by 1.5400 and 1.5420/50. Above 1.5290, uptrend resumes. Downtrend is slightly favored for now. Current quote is 1.5240 @07:10 GMT
Support levels: 1.5200, 1.5150/90 and 1.5000/10.
Resistance levels: 1.5290/00, 1.5420/50, 1.5500/30 and 1.5590.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish
Intraday Forex Signal by AceTrader - GBP/USD
Updating time : 25 Mar 2009 06:41 GMT
Rate: 1.4676
As cable has rebounded after finding renewed
buying abv intra-day sup 1.4636 (Asia), suggesting
as long as this lvl holds, consolidation with mild
upside bias is seen but break of 1.4720/25 needed
to confirm correction fm 1.4780 has ended, 1.4750.
Buy dips with stop as indicated, only below 1.
4615/22 wud abort n signal top formed, 1.4585/90...
Range Forecast
1.4655 / 1.4690
Resistance/Support
R: 1.4720/1.4780/1.4836
S: 1.4636/1.4586/1.4550
Wednesday, March 25, 2009
Forex News 25-03-2009
European Economics Preview: German Ifo Business Confidence Forecast To Deteriorate
Wednesday, the only major report due for the day is German Ifo business confidence.
At 4.00am ET, the Czech Statistical Office is scheduled to issue business and consumer confidence for March. In February, the consumer confidence indicator dropped 1.7 points to 74.2 and business confidence declined to 73.7 from 76.9 in January.
In the meantime, the National Institute of Statistics is set to release the Spanish PPI report for February. Producer prices are forecast to fall 0.8% annually in February compared to a 0.6% fall in January.
Thereafter, Italian consumer confidence survey results are due from the research institute ISAE at 4.30am ET. Consumer confidence is seen at 103 in March, down from 104.1 last month.
At 5.00am ET, the Munich-based Ifo Institute for Economic Research is slated to issue a monthly German business confidence survey for March. Business confidence is expected to fall to a historical low of 82.2 in March from 82.6 last month. The current conditions index is seen at 82.5 compared to 84.3 in February.
At the same time, Norwegian unemployment is due from the Statistics Norway. The jobless rate is expected to rise to 3.2% during December to February.
Afterwards, a quarterly Distributive Trades survey is expected from the Confederation of British Industry at 7.00am ET.
US Market Commentary
Stocks Set For Decent Open After Obama Proclaims "Signs of Progress"
Wall Street was in a decent frame of mind Wednesday morning in New York after President Barack Obama said last night that he saw "signs of progress" on the economic front.
As of 6:15 am ET, the Dow Futures were up 30 points, the NASDAQ Futures were up 5 points, and the S&P Futures were up 4 points.
Stocks pulled back on Tuesday, paring some of the standout gains posted in the previous session. The Dow closed down 115.65 points or 1.5 percent at 7,660.21, the Nasdaq closed down 37.34 points or 2.4 percent at 1,518.43 and the S&P 500 closed down 16.58 points or 2 percent at 806.34.
Speaking at his second prime time TV news conference from the White House, President Obama last night said the multi-part strategy will take time to be reverse the economic problems that developed over a number of years. "There will be no quick fixes. There are no silver bullets," Obama said.
"We will recover from this recession," Obama said. "But it will take time, it will take patience."
A day after taking heat from Congress about the AIG bailout fiasco, Treasury Secretary Tim Geithner will talk about the economic and financial crises at the Council on Foreign Relations in New York.
Trading on Wednesday could be impacted by the release of reports on durable goods orders and new home sales. Fuel supplies figures are also due out.Traders are also likely to keep an eye on speeches from Fed Presidents Yellen and Pinalto.
In corporate news Wednesday, British bank HSBC Holdings Plc (HBC: News ,HSBA.L: News ) is likely to cut about 1,000 jobs in the U.K. in processing and operations and may close some administration sites, Bloomberg reported, citing a person familiar with the situation.
Wednesday, British cigarette company Imperial Tobacco Group PLC (IMT.L: News ) said its expected overall performance for the year ending September 30 remains in line with management's expectations. In a separate statement, the company revealed the appointment of Alison Cooper as Chief Operating Officer, with immediate effect.
Automaker Ford Motor Co. (F: News ), in a proxy filing with the U.S. Securities and Exchange Commission providing details of its 2009 annual meeting to seek shareholders approval for issuing common stock, said its Chief Executive Officer Alan Mulally's salary, without bonus, declined 78% to $2 million in 2008 with a further 30% reduction due for 2009 and 2010.
Asian stocks were mostly weaker on Wednesday, with Tokyo's Nikkei shedding 2 percent. European shares were little-changed in intraday dealing.
Wednesday, the only major report due for the day is German Ifo business confidence.
At 4.00am ET, the Czech Statistical Office is scheduled to issue business and consumer confidence for March. In February, the consumer confidence indicator dropped 1.7 points to 74.2 and business confidence declined to 73.7 from 76.9 in January.
In the meantime, the National Institute of Statistics is set to release the Spanish PPI report for February. Producer prices are forecast to fall 0.8% annually in February compared to a 0.6% fall in January.
Thereafter, Italian consumer confidence survey results are due from the research institute ISAE at 4.30am ET. Consumer confidence is seen at 103 in March, down from 104.1 last month.
At 5.00am ET, the Munich-based Ifo Institute for Economic Research is slated to issue a monthly German business confidence survey for March. Business confidence is expected to fall to a historical low of 82.2 in March from 82.6 last month. The current conditions index is seen at 82.5 compared to 84.3 in February.
At the same time, Norwegian unemployment is due from the Statistics Norway. The jobless rate is expected to rise to 3.2% during December to February.
Afterwards, a quarterly Distributive Trades survey is expected from the Confederation of British Industry at 7.00am ET.
US Market Commentary
Stocks Set For Decent Open After Obama Proclaims "Signs of Progress"
Wall Street was in a decent frame of mind Wednesday morning in New York after President Barack Obama said last night that he saw "signs of progress" on the economic front.
As of 6:15 am ET, the Dow Futures were up 30 points, the NASDAQ Futures were up 5 points, and the S&P Futures were up 4 points.
Stocks pulled back on Tuesday, paring some of the standout gains posted in the previous session. The Dow closed down 115.65 points or 1.5 percent at 7,660.21, the Nasdaq closed down 37.34 points or 2.4 percent at 1,518.43 and the S&P 500 closed down 16.58 points or 2 percent at 806.34.
Speaking at his second prime time TV news conference from the White House, President Obama last night said the multi-part strategy will take time to be reverse the economic problems that developed over a number of years. "There will be no quick fixes. There are no silver bullets," Obama said.
"We will recover from this recession," Obama said. "But it will take time, it will take patience."
A day after taking heat from Congress about the AIG bailout fiasco, Treasury Secretary Tim Geithner will talk about the economic and financial crises at the Council on Foreign Relations in New York.
Trading on Wednesday could be impacted by the release of reports on durable goods orders and new home sales. Fuel supplies figures are also due out.Traders are also likely to keep an eye on speeches from Fed Presidents Yellen and Pinalto.
In corporate news Wednesday, British bank HSBC Holdings Plc (HBC: News ,HSBA.L: News ) is likely to cut about 1,000 jobs in the U.K. in processing and operations and may close some administration sites, Bloomberg reported, citing a person familiar with the situation.
Wednesday, British cigarette company Imperial Tobacco Group PLC (IMT.L: News ) said its expected overall performance for the year ending September 30 remains in line with management's expectations. In a separate statement, the company revealed the appointment of Alison Cooper as Chief Operating Officer, with immediate effect.
Automaker Ford Motor Co. (F: News ), in a proxy filing with the U.S. Securities and Exchange Commission providing details of its 2009 annual meeting to seek shareholders approval for issuing common stock, said its Chief Executive Officer Alan Mulally's salary, without bonus, declined 78% to $2 million in 2008 with a further 30% reduction due for 2009 and 2010.
Asian stocks were mostly weaker on Wednesday, with Tokyo's Nikkei shedding 2 percent. European shares were little-changed in intraday dealing.
Tuesday, March 24, 2009
NEWS 24-03-2009
Top Stories
Oil Pares Most Of Daily Losses, Closes Slightly LowerCrude oil closed modestly lower on Tuesday but rebounded off of its lows of the session. Traders looked ahead to Energy Information Administration data, which is expected to show another build in inventories. Light sweet crude for May delivery fell 18 cents to end at $53.92 per barrel. Prices slipped as low as $52.45 earlier in the ....
Gold Drops For Third Straight Session
Gold prices closed lower for a third straight session as the dollar amid hopes government plans to help the struggling economy will reduce the metal's hedge appeal. April gold finished the session at $923.80, down $28.70 for the session. Prices touched as low as $920.00 earlier in the day. The dollar firmed up a bit versus the euro Tuesday, ....
Dollar Steady Versus Most Majors Tuesday
The dollar continued to edge lower versus the resurgent sterling but was steady against most other majors on Tuesday in New York, as traders paused to hear from a trio of top officials regard the government's role in saving insurance giant AIG. Fed Chairman Ben Bernanke and Treasury Secretary Tim Geithner will appeared before a House Financial ....
Oil Pares Most Of Daily Losses, Closes Slightly LowerCrude oil closed modestly lower on Tuesday but rebounded off of its lows of the session. Traders looked ahead to Energy Information Administration data, which is expected to show another build in inventories. Light sweet crude for May delivery fell 18 cents to end at $53.92 per barrel. Prices slipped as low as $52.45 earlier in the ....
Gold Drops For Third Straight Session
Gold prices closed lower for a third straight session as the dollar amid hopes government plans to help the struggling economy will reduce the metal's hedge appeal. April gold finished the session at $923.80, down $28.70 for the session. Prices touched as low as $920.00 earlier in the day. The dollar firmed up a bit versus the euro Tuesday, ....
Dollar Steady Versus Most Majors Tuesday
The dollar continued to edge lower versus the resurgent sterling but was steady against most other majors on Tuesday in New York, as traders paused to hear from a trio of top officials regard the government's role in saving insurance giant AIG. Fed Chairman Ben Bernanke and Treasury Secretary Tim Geithner will appeared before a House Financial ....
Usd rebound on retrieving risk appetite
Tue, Mar 24 2009, 22:12 GMT
Dollar rebound Tuesday, after the Dow Jones Industrial Average retreated more than 100 points after rallying a day earlier, leading investors back to the major funding currency of their riskier bets, the dollar. Only Gbp sustained the overnight rally that reach a 6 week high against dollar, and stayed higher on the day. Euro fell as low as 1.3420 by the end of the American session and remains under pressure, as the ECB members change tone increasing chances of a rate cut for the euro zone next April 2nd.
FED’s plan to end recession and avoid risk of deflation, will begin tomorrow, as the Federal Reserve is going to be pumping U.S. dollars into the market buying long-term Treasuries in an attempt to drive longer-term interest rates. The first operation of $300 billion is aimed at notes maturing from February 2016 to February 2019, and in the coming days, the central bank plans to buy debt maturing between March 2011 and February 2039, according to the tentative schedule. If the plan works the U.S. will be leading the global economic recovery, gaining own strength and detaching forex market from stocks.
Tue, Mar 24 2009, 22:12 GMT
Dollar rebound Tuesday, after the Dow Jones Industrial Average retreated more than 100 points after rallying a day earlier, leading investors back to the major funding currency of their riskier bets, the dollar. Only Gbp sustained the overnight rally that reach a 6 week high against dollar, and stayed higher on the day. Euro fell as low as 1.3420 by the end of the American session and remains under pressure, as the ECB members change tone increasing chances of a rate cut for the euro zone next April 2nd.
FED’s plan to end recession and avoid risk of deflation, will begin tomorrow, as the Federal Reserve is going to be pumping U.S. dollars into the market buying long-term Treasuries in an attempt to drive longer-term interest rates. The first operation of $300 billion is aimed at notes maturing from February 2016 to February 2019, and in the coming days, the central bank plans to buy debt maturing between March 2011 and February 2039, according to the tentative schedule. If the plan works the U.S. will be leading the global economic recovery, gaining own strength and detaching forex market from stocks.
Forex Market Hours
When to trade and when not to
Forex market is open 24 hours a day. It provides a great opportunity for traders to trade any time of the day or at night.However, although it seems to be not very important at the beginning, the right time to trade is one of the most crucial points to be successful in trading at the forex market.So, when should one consider trading and why?
Forex trading hours, trading time:
New York opens 8:00 am to 5:00 pm
EST Tokyo opens 7:00 pm to 4:00 am
EST Sydney opens 5:00 pm to 2:00 am
EST London opens 3:00 am to 12:00 noon
EST And so, there are hours when two sessions are overlapped:
New York and London — 8:00 am — 12:00 noon
EST Sydney / Tokyo — 7:00 pm — 2:00 am
EST London / Tokyo — 3:00 am — 4:00am
EST For example,
trading EUR/USD, GBP/USD currency pairs would give good results between 8:00 am and 12:00 noon EST when two markets for those currencies are active. At those overlapping trading hours you'll find the highest volume of trades and therefore more chances to win in the foreign currency exchange market.
Forex market is open 24 hours a day. It provides a great opportunity for traders to trade any time of the day or at night.However, although it seems to be not very important at the beginning, the right time to trade is one of the most crucial points to be successful in trading at the forex market.So, when should one consider trading and why?
Forex trading hours, trading time:
New York opens 8:00 am to 5:00 pm
EST Tokyo opens 7:00 pm to 4:00 am
EST Sydney opens 5:00 pm to 2:00 am
EST London opens 3:00 am to 12:00 noon
EST And so, there are hours when two sessions are overlapped:
New York and London — 8:00 am — 12:00 noon
EST Sydney / Tokyo — 7:00 pm — 2:00 am
EST London / Tokyo — 3:00 am — 4:00am
EST For example,
trading EUR/USD, GBP/USD currency pairs would give good results between 8:00 am and 12:00 noon EST when two markets for those currencies are active. At those overlapping trading hours you'll find the highest volume of trades and therefore more chances to win in the foreign currency exchange market.
FOREX TRADING SYSTEMS
Where to find a good Forex trading system?
If you want to be consistently successful in Forex, you need a trading system.Beginner traders as well as experienced investors always search for the newest more efficient ways to trade and profit in Forex.
Why there is so much talk about having a Forex trading system?
- Without a trading system you won't be able to analyse what you did right and what you did wrong.
- Without a trading system your trading preferences will change all the time: every new trade could easily have different reasons behind it.
- Without a trading system you can be late on entries due to constant hesistation as a result of battling with your intuition or a sudden second opinion.
- Without a trading system you'll have more doubts about the best time to exit a trade or the best place to keep a protective stop.
- Without a trading system you cannot trade consistently and demand a disciplined trading from yourself.
- Without a trading system you cannot fully work out your money management and risks. - Without a trading system you'll be prone to fear of losing and every time you would need to regain the confidence.
All-in-all it is difficult to trade Forex without a trading system.
-So, you've found a good Forex trading system. Now what? Most obviously you'll begin testing it on your Forex demo account.But how about improving it? Does your new trading system have everything for you to trade currencies successfully? Stay tuned, as we will talk about "How one can improve any Forex trading system."
If you want to be consistently successful in Forex, you need a trading system.Beginner traders as well as experienced investors always search for the newest more efficient ways to trade and profit in Forex.
Why there is so much talk about having a Forex trading system?
- Without a trading system you won't be able to analyse what you did right and what you did wrong.
- Without a trading system your trading preferences will change all the time: every new trade could easily have different reasons behind it.
- Without a trading system you can be late on entries due to constant hesistation as a result of battling with your intuition or a sudden second opinion.
- Without a trading system you'll have more doubts about the best time to exit a trade or the best place to keep a protective stop.
- Without a trading system you cannot trade consistently and demand a disciplined trading from yourself.
- Without a trading system you cannot fully work out your money management and risks. - Without a trading system you'll be prone to fear of losing and every time you would need to regain the confidence.
All-in-all it is difficult to trade Forex without a trading system.
-So, you've found a good Forex trading system. Now what? Most obviously you'll begin testing it on your Forex demo account.But how about improving it? Does your new trading system have everything for you to trade currencies successfully? Stay tuned, as we will talk about "How one can improve any Forex trading system."
Forex Fundamental Analysis. Basics
What is fundamental analysis?
Fundamental analysis in Forex is a type of market analysis which involves studying of the economic situation of countries to trade currencies more effectively.
What is economic calendar?
Economic calendar is created by economists where they predict different economics figures and values according to previous months. It contains next data: Date — Time — Currency — Data Released — Actual — Forecast — Previous
Whose speeches to keep an eye on?
Chairman of the Federal Reserve Bank of USA, Secretary of the Treasury, President of the Federal Reserve Bank of San Francisco and so on. Speeches of those prominent people are watched closely by traders
What are the most powerful figures that move Forex market?
Interest rate Traditionally, if a country raises its interest rates, its currency will strengthen because investors will shift their assets to that country to gain higher returns.
Employment situation
Decreases in the payroll employment are considered as signs of a weak economic activity that could eventually lead to lower interest rates, which has negative impact on the currency. Trade balance, budget and treasury budget A country that has a significant
Trade Balance
deficit will generally have a weak currency as there will be continuous commercial sellings of its currency.
Gross Domestic Product (GDP)
GDP is reported quarterly and is followed very closely as it is a primary indicator of the strength of economic activity. A high GDP figure is usually followed by expectations of higher interest rates, which is mostly positive for the currency.
Fundamental analysis in Forex is a type of market analysis which involves studying of the economic situation of countries to trade currencies more effectively.
What is economic calendar?
Economic calendar is created by economists where they predict different economics figures and values according to previous months. It contains next data: Date — Time — Currency — Data Released — Actual — Forecast — Previous
Whose speeches to keep an eye on?
Chairman of the Federal Reserve Bank of USA, Secretary of the Treasury, President of the Federal Reserve Bank of San Francisco and so on. Speeches of those prominent people are watched closely by traders
What are the most powerful figures that move Forex market?
Interest rate Traditionally, if a country raises its interest rates, its currency will strengthen because investors will shift their assets to that country to gain higher returns.
Employment situation
Decreases in the payroll employment are considered as signs of a weak economic activity that could eventually lead to lower interest rates, which has negative impact on the currency. Trade balance, budget and treasury budget A country that has a significant
Trade Balance
deficit will generally have a weak currency as there will be continuous commercial sellings of its currency.
Gross Domestic Product (GDP)
GDP is reported quarterly and is followed very closely as it is a primary indicator of the strength of economic activity. A high GDP figure is usually followed by expectations of higher interest rates, which is mostly positive for the currency.
SUCCESS in FOREX
Tip 1. Gamblers go to casino.
-All unproved, spontaneous actions in Forex trading — are a part of pure gambling. Any attempt to trade without analysis and studying the market is equal to a game. Game is fun except when you are losing real money...
Tip 2. Never invest money into a real Forex account until you practice on a Forex Demo account!
-Allow at least 2 month for demo trading. Consider this: 90% of beginners fail to succeed in the real money market only because of lack of knowledge, practice and discipline.Those remaining 10% of successful traders had been sharpening and shaping their skills on demo accounts for years before entering the real market.
Tip 3. Go with the trend!
-Trend is your friend. Trade with the trend to maximize your chances to succeed. Trading against the trend won't "kill" a trader, but will definitely require more attention, nerves and sharp skills to rich trading goals.
Tip 4. Always take a look at the time frame bigger than the one you've chosen to trade in.
-It gives the bigger picture of market price movements and so helps to clearly define the trend.For example, when trading in 15 minute time frame, take a look at 1 hour chart; trading hourly would require obtaining a picture of daily, weekly price movements.If a trend is hard to spot — choose a bigger time frame. Up and down market patterns are always present. Always make sure you know the dominant trend, unless you are a scalper.Scalpers have no need to spend their time studying big trends, what's happening in the market here and now (during 5-10 minute time frame) should be of only importance to a Forex scalper.
Tip 5. Never risk more than 2-3% of the total trading account.
-One important difference between a successful and an unsuccessful trader is that the first is able to survive under unfavorable conditions on the market, while an unsuccessful trader will blow up his account after 5-10 unprofitable trades in the row.Even with the same trading system 2 traders can get opposite results in the long run. The difference will be again in the money management approach.To introduce you to money management, let's get one fact: losing 50% of total account requires making 100% return from the rest of money just to restore the original balance.
Tip 6. Put emotions down. Trade calm.
-Don't try to revenge after losing the trade. Don't be greedy by adding lots of positions when winning. Overreaction blocks clear thinking and as a result will cost you money. Overtrading can shake your money management and dramatically increase trading risks.
Tip 7. Choose the time frame that is right for you.
-Choosing wise means that you are comfortable and have time enough to analyze the market, place and close orders etc. Some people can't wait for hours for the price to make a move, they like action and therefore prefer smaller time frames.On the contrary, for others 10-15 minutes is a hustle to be able to make the right decision.
-All unproved, spontaneous actions in Forex trading — are a part of pure gambling. Any attempt to trade without analysis and studying the market is equal to a game. Game is fun except when you are losing real money...
Tip 2. Never invest money into a real Forex account until you practice on a Forex Demo account!
-Allow at least 2 month for demo trading. Consider this: 90% of beginners fail to succeed in the real money market only because of lack of knowledge, practice and discipline.Those remaining 10% of successful traders had been sharpening and shaping their skills on demo accounts for years before entering the real market.
Tip 3. Go with the trend!
-Trend is your friend. Trade with the trend to maximize your chances to succeed. Trading against the trend won't "kill" a trader, but will definitely require more attention, nerves and sharp skills to rich trading goals.
Tip 4. Always take a look at the time frame bigger than the one you've chosen to trade in.
-It gives the bigger picture of market price movements and so helps to clearly define the trend.For example, when trading in 15 minute time frame, take a look at 1 hour chart; trading hourly would require obtaining a picture of daily, weekly price movements.If a trend is hard to spot — choose a bigger time frame. Up and down market patterns are always present. Always make sure you know the dominant trend, unless you are a scalper.Scalpers have no need to spend their time studying big trends, what's happening in the market here and now (during 5-10 minute time frame) should be of only importance to a Forex scalper.
Tip 5. Never risk more than 2-3% of the total trading account.
-One important difference between a successful and an unsuccessful trader is that the first is able to survive under unfavorable conditions on the market, while an unsuccessful trader will blow up his account after 5-10 unprofitable trades in the row.Even with the same trading system 2 traders can get opposite results in the long run. The difference will be again in the money management approach.To introduce you to money management, let's get one fact: losing 50% of total account requires making 100% return from the rest of money just to restore the original balance.
Tip 6. Put emotions down. Trade calm.
-Don't try to revenge after losing the trade. Don't be greedy by adding lots of positions when winning. Overreaction blocks clear thinking and as a result will cost you money. Overtrading can shake your money management and dramatically increase trading risks.
Tip 7. Choose the time frame that is right for you.
-Choosing wise means that you are comfortable and have time enough to analyze the market, place and close orders etc. Some people can't wait for hours for the price to make a move, they like action and therefore prefer smaller time frames.On the contrary, for others 10-15 minutes is a hustle to be able to make the right decision.
Thursday, March 19, 2009
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