Chinese stock futures are now down almost 7% – the 2nd biggest drop in 7 years.
Down futures down -225 Completely erasing April before you even get out of bed, and get a chance to have a look.
You see what I’m saying here? This thing will not give you “half a chance” to get out with your skin intact if you don’t have the foresight to consider “ringing the bell” and “taking some off the table” BEFORE IT HAPPENS.
You “powerbulls” can take one on the chin this morning – and you deserve it.
I don’t have alot to say these days, as you know where I stand on the global economy in general, and this puff ball/hot air balloon you call a market.
Looks like you’ve ignored the last two posts…..and the “50 points lower” is “- 250 points lower” before the days has even begun.
Good luck with that, I’m off shopping for a new boat.
Smiley day indeed Kong 🙂
However I have become very very cynical – will not believe until I see the closing levels. How many times have bears been lulled in to a false sense of security only for some well timed comment or rumor to send markets back up.
Only thing that concerns me, perhaps you can help me here, in the past, we’d expect serious JPY strength but am just not seeing it today. In fact, usdjpy has refused to stay under 118.80 for any length of time. Does JPY correlation no longer apply? (hasn’t done for a while). JPY today has recovered of major lows against CAD and GBP today so perhaps this is a sign of things to come?
Hopefully market participants are now beginning to realize just how badly the CB’s have messed up valuations across the entire financial complex (I mean Spain being able to borrow at less than the USA, German 10yr yields at negative-madness).
Did you see CPI data? Indication that inflation is rising, not that it was ever low for those items that we need to survive ie. rents, food, utility bills.
Let’s hope this is the start of a major re-valuation of all financial assets as well as a more thoughtful analysis from all market participants.
Just a single day here…..but ugly for bulls all the same.
We’ll still need to see more to consider this endless range finally breaking.
Breaking significantly LOWER that is.
Im looking good here.
As I said in my post, wanted to see the close to see what would happen and my cynicism proved correct. Did you see last 30 minutes of trading? US markets ripped up on next to nothing. Am surprised there was no fear in to holding over the weekend.
Guess if Asian markets (and China) recover the huge futures led drop, we could see a huge bounce come Monday.
Greetings Kong from an old friend. Hopefully you remember me, it’s Rob. We used to chat back and forth on here from time to time and we also exchanged emails a few times. Just letting you know all is well up here in the States, the weather has turned where I am, and the markets have been good.
Just letting you know I’m alive and kicking, and finally starting to catch the Sun like you do every day down in Mexico.
Rob
So…did you buy the new boat ( or money pit as I call them )…?