Portfolio Update May 2010

2010 Year to date (YTD) Return Portfolio -4.90% Equity(Include Funds)  -3.93% Direct Shareholding -2.59% Dividend/Coupon/Interest received for 2010 $64,699 Absolute Return Since Nov 2007 Portfolio -0.78% Equity(Include Funds) 12.28% Direct shareholding 12.80%

1) A market with very conflicting views. Positive economic data globally coupled with negative news about European Debt Contagion and Tensions arising in the korean peninsular and Israel/Iran Straits. From a Technical perspective, the market is definitely capabale of breaching and morphing into a bear market as most indexes have touched the major trend lines. However, I still believe this is the correction that is due and the bull market will resume soon. Though I will not buy further on dips as I believe Cash holdings are necessary for those unexpected events. Just keep a watch out now!