Miley Cyrus Weight Loss Is ?Healthy,? Says Pilates Instructor Despite 'Anorexic', 'Too Skinny' Comments [PHOTOS]

Photo: Twitter/mrcinspiresme

Miley Cyrus Weight Loss

We've all seen her in her workout gear of short shorts and skimpy midriff-baring tops, prompting many to believe that her weight loss is borderline dangerous. But despite her pin-thin frame seen in recent photos that sparked "she's anorexic" and "she's too skinny" chatter, Miley Cyrus is fit and healthy, according to her Pilates instructor and trainer, Mari Winsor.

Photo: Twitter/mrcinspiresme

Jackson family gathers to mourn death

Hours after the news of the king of pop's death was revealed on Thursday afternoon, the families of Michael Jackson gathered at the home of his parents, Joe and Katherine Jackson to mourn his death, in nearby Encino, California.

On Friday morning, his sister, Janet Jackson, a musical star in her own right, was seen arriving at Van Nuys airport near Los Angeles, reportedly on her way to join her family.

Janet Jackson is grief-stricken and devastated at the sudden loss of her brother, her manager Kenneth Crear said in a statement.

Many of Michael's family including Sister LaToya and Brother Jermaine gathered at the UCLA Medical Center on Thursday afternoon after the self-titled “King of Pop” was transported via ambulance from his Holmby Hills home in Los Angeles.

Michael Jackson is survived by siblings Rebbie, Jackie, Tito, Jermaine, La Toya, Marlon, Randy and Janet – along with his parents Joseph Walter “Joe” and Katherine Esther.

He also has three children — Prince Michael Jackson, 12; Paris Michael Katherine Jackson, 11; and Prince Michael Jackson II, 7.

Jackson was born in Gary, Indiana on August 29, 1958, the seventh of nine children and has been entertaining audiences nearly his entire life.

He lived as a virtual recluse since his acquittal in 2005 on charges of child molestation.

Photo: Twitter/mrcinspiresme

GM Shareholder Wipeout

GM is preparing to do a 100-1 reverse split after issuing up to 60 billion new shares to pay down debt. General Motors Corp on Tuesday detailed plans to all but wipe out the holdings of remaining shareholders by issuing up to 60 billion new shares in a bid to pay off debt to the U.S. government, bondholders and the United Auto Workers union. The unusual plan, which was detailed in a filing with U.S. securities regulators, would only need the approval of the U.S. Treasury to proceed since the U.S. government would be the majority shareholder of a new GM, the company said. The flood of new stock issuance that could be unleashed has been widely expected by analysts who have long warned that GM's shares could be worthless whether the company restructures out of court or in bankruptcy. The debt-for-equity exchanges detailed in the filing with the Securities and Exchange Commission would leave GM's stock investors with just 1 percent of the equity in a restructured automaker, ending a long run when the Dow component was seen as a bellwether for the strength of the broader U.S. economy. GM shares closed on Tuesday at $1.85 on the New York Stock Exchange. The stock would be worth just over 1 cent if the first phase of GM's restructuring moves forward as described. GM Plans 1-for-100 Reverse Stock Split YahooFinance is reporting GM Plans 1-for-100 Reverse Stock Split General Motors Corp. notified shareholders Tuesday it is planning a reverse stock split that would give them one share of new stock for every 100 shares they currently own. The automaker said in a filing with the Securities and Exchange Commission that the deal would be part of an agreement with the Treasury Department in which the government would assume at least half of GM's debt in exchange for company shares. GM will send the information to shareholders currently holding a total of 610.5 million outstanding shares. When all the deals are done GM expects to have about 62 billion shares, 100 times more than currently are outstanding. If the restructuring as currently contemplated occurs, there will be very substantial dilution to existing holders of GM common stock, GM's filing said. Hence, the reverse stock split proposal. Critics, mainly bondholders, have accused the Obama administration of favoring the government and the UAW at the expense of investors. GM shares closed on Tuesday at $1.85 on the New York Stock Exchange. The stock would be worth just over 1 cent if the first phase of GM's restructuring moves forward as described. Inquiring minds are investigating how option traders perceive the action. Please consider GM option plays. GM Option Plays click on table for sharper image

If GM's demise comes on or before May 15, then holders of 60,671 PUTs will see the value soar from 3 cents to 99 cents equating to a gain of 3000+%. I am not recommending this play, but I sure as hell would not want to be the writer of those options. More likely is a demise by June 19 which would see the bid on June puts rising from 30 cents to 99 cents or so (assuming the scenario plays out as described above). GM Maximum Pain

Ignoring the gigantic risk reward lottery tickets of May GM options, inquiring minds are looking ahead to June. In June, we see Maximum Pain (the point at which most options expire worthless, is $3) Without recommending (or playing) the over/under line, I would bet on the under line, presuming GM is highly unlikely to close over $3 at the June expiry. However, strike 3 PUT holders paying $1.90 for the option need to see a close below $1.10 at the June expiry (assuming options held for duration), to show a profit.

Photo: Twitter/mrcinspiresme

GBP/JPY - British Pound Yen, American Session - 05/06/09

Photo: REUTERS

Zimbabwe's Tsvangirai threatens to boycott early polls

 Zimbabwe's Prime Minister Morgan Tsvangirai on Thursday threatened to boycott presidential and parliamentary elections if rival President Robert Mugabe called them for 2011.

Mugabe and his ZANU-PF party, forced into a unity government with Tsvangirai's Movement for Democratic Change (MDC) after a disputed election in 2008 that was marred by violence, is pushing for early elections this year.

If Mugabe proceeds to announce an election without my agreement, that will be a unilateral action and we as MDC will not be party to that, Tsvangirai said.

Tsvangirai told visiting German business executives he expected a vote by September on a new constitution, one of the prerequisites for an election.

Once the constitutional making process is complete and a referendum is held, Mugabe and I will sit down as the main parties and decide on the election date, Tsvangirai said.

MDC officials say a vote this year could lead to a bloodbath and deal a heavy blow to an economy crushed by hyperinflation about two years ago.

I do not see elections this year, probably early next year, because it's not just a question of holding elections, it is about creating the conditions for a free and fair election, Tsvangirai said.

The uneasy unity government has been credited with bringing stability back to the impoverished country, which has vast mineral deposits but has been shunned by the West for suspected human rights abuses by Mugabe and his party.

The MDC and ZANU-PF have traded blame for increasing violence in the past weeks apparently tied to ZANU-PF calls for elections this year.

ZANU-PF, which lost to the MDC in the 2008 parliamentary election, feels it is to its advantage to call an early election as the MDC is losing some popular support as it tries to settle internal disputes, analysts said.

Critics say early elections without political reforms, including a new constitution guaranteeing basic rights, would favour Mugabe and ZANU-PF, in power for more than 30 years.

Photo: REUTERS

USD/CAD – What can Price Action Tell us in this Choppy Market

Tools:
Simple Moving Average(SMA) 50-period (red), 200-period (bold, gray)
RSI-14 with Simple Moving Average 5-period of RSI attached.
Fibonacci Study
Elliott Wave Principles
Market and Price Action (patterns, candlesticks)
Intraday pivots and Intermediate-term support and resistance
Multiple Time-frame Analysis

USD/CAD

- USD/CAD has been in choppy price action since breaking below parity again at the end of last year. Recent action brought the pair to test 1.0 again, but the strong attempt remains contained below it, as well as the 200SMA in the 4H chart.
- If the market breaks closes the 0.9900 level in the 4H chart, we might see a decline towards 0.9840-0.9850 area, especially if we see a bearish candle with 50+ pips.
- So far within this pattern, we have seen the bullish provide the stronger candles, which is no surprise as the market did rally.
- If the current bearish candles do not expand and close below 0.9910, we might still be bullish, although this bullish scenario is limited to tight resistance levels
- The RSI is still above 40, and with price action above 0.9910, we would have a positive reversal signal, which would suggest another rally attempt to break 1.0, so that might be a target.
- With the upside risk being said, we should consider the other possibility, that the market does break below 0.9900. Will it come down to test the 0.9840-0.9850 lows? If the market fails to test this area, and rallies, we have either bottomed, or we would be in a second correction rally. Either way, we can then again anticipate a rally towards 1.00.
- The daily chart shows these tight resistance levels, until we clear above 1.0100.

Will this choppy pair continue below 0.9850, or are we in a bottoming attempt? We would love to hear from you.
Subscribe and become a member to share your views and join live discussions as well as webinars about the markets.

Fan Yang CMT
Chief Technical Strategist
FXTimes

Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness. FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analysis.