10 replies to this topic

[SemiBizz]

They are running from the high P/Es....

http://bigcharts.mar...&mocktick=1.gif



Outlook for daily candle at present... Break Low on Volume, Gap down intact....Target $460.

[SemiBizz]

Mor(e)-on Shang em Hai stock market...



Viewpoint: Irrational exuberance in China

To say that Chinese love to gamble would be a gross cultural generalization. Then again, one could be excused for assuming as much, considering how the world's gambling industry is going after China's bettors.

From Las Vegas to Macao and Monte Carlo to Sydney, gambling magnates are luring more Chinese their way. Gambling, you see, is illegal in mainland China. Then again, who needs baccarat tables and roulette wheels when you have China's stock market?

China's equity exchanges have long had more in common with casinos than markets. Investors were reminded of that on Jan. 31 when China's stocks tumbled the most in at least 21 months after a lawmaker said shares were overvalued. The comments by Cheng Siwei, vice chairman of the National People's Congress, fueled speculation the government will act to limit investment.

Speaking in Dubai, Cheng said only 30 percent of companies listed on the Shanghai Stock Exchange "are good to invest in by Western standards," and investors in the remaining 70 percent will probably lose money. His words sent the Shanghai and Shenzhen 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, down 6.5 percent, the biggest one-day drop since the measure was introduced in April 2005.

A couple of things are worth considering here. One, when you think about what Cheng said, the biggest surprise is that Chinese stocks didn't fall more. You have to wonder if his 30/ 70 comment is too optimistic given China's lack of corporate transparency and government efforts to slow the economy.

[Jnavin]

I just shorted GOOG at 471.56.

[SemiBizz]

The Bush-proof Portfolio

The president's foolhardy foreign policy and wanton spending have investors fleeing to foreign exchanges. It's time to join them.By James J. Cramer

So, don't buy China and dump US stocks is the message I get....

Edited by SemiBizz, 05 February 2007 - 11:33 AM.

[hiker]

Ted Burge shows Horizontal support approx 469 if memory serves..

why on earth would you stay short for another $9 profit, when it is going back to $600 someday?

Ted is a well advertised GOOG technician, and has been for over a year...even producing regular videos available on his site explaining the setup

sure, i carried over some GOOG short shares for 3 days...but I am out today...am flat GOOG for the moment

see lower left for GOOG by Ted..just some of his work on it -

http://tic-tac-dough.com/

both Cramer and most of the Fast Money guys say GOOG is going to $450, but no setup details provided last week for that target...it has to take out a support level before it goes lower...note they are in agreement GOOG is going back up after it bottoms again on this current decline...492-497 is area to watch for IMO then 513

Edited by hiker, 05 February 2007 - 12:24 PM.

[SemiBizz]

Shang em Hai Volume picked up at the new lows last night too...



(chart)

[traderpaul]

Hiker, Quick question for you. I noticed you trade based on others opinion of the stock/market. Is that the correct approach? If everyone thinks that GOOG will be up, then GOOG will top right here....

[fib_1618]

Shang em Hai Volume picked up at the new lows last night too...

Volume usually does at a bottom of one degree or the other.

Fib

[hiker]

Paul...I notice you have made only bearish-related posts in recent mos. while price continues to move higher...is it prudent to attempt to outsmart what the price action evidence suggests? I am not going to attempt to answer your question...I have made a lot of money trading ideas gleaned from Fast Money, Jim Cramer, and Ted Burge...something wrong with that? you still bearish? btw, I just shared some related reasons for why I exited 3k shares GOOG held short for 3 days...what trades have you shared here? And note that I stated I am currently flat GOOG. I am going to trade it again once the current action resolves one way or another.

Edited by hiker, 05 February 2007 - 12:45 PM.

[SemiBizz]

GOOG new lows on stronger volume today... 460 tomorrow. Another bad nite tonite on Shang Em High.... CSCO to the rescue tomorrow after the close...GOOG bounce to setup another leg down...