261 replies to this topic

[12SPX]

Adding little by little, average short 4408....

[12SPX]

Well that was a fun day, average short going into the night session is 4411, we'll see how it goes as I'm sure the market will be just as volatile as today!!  

[dTraderB]

REUTERS

China remains underwhelming
To be sure, there aren't many obvious reasons for the rot to stop other than the bearishness may be overdone in the short-term - the MSCI Asia ex-Japan index is down eight days in a row, its longest losing streak since January 2020, and China's blue chip index has fallen nine of the last 11 sessions.



The flow of economic data and policy actions out of China remains underwhelming. The latest figures show land sales revenues for the government fell for a 19th straight month and overall fiscal revenue growth slowed in July.



Foreigners sold Chinese stocks for the 11th day in a row on Monday, dumping nearly $1 billion via the Stock Connect, and reaction to the central bank cutting the one-year loan prime rate by 10 basis points and leaving the five-year rate unchanged was one of overwhelming disappointment.



The spread between Chinese and U.S. 10-year bonds widened to 180 basis points on Monday, the biggest gap since January 2007 and a growing source of severe downward pressure on the yuan.

[dTraderB]

The dollar continues to draw support from the relentless upswing in U.S. bond yields. The 10-year yield rose to 4.35% on Monday, its highest since late 2007, and the real 10-year yield topped 2% for the first time since July 2009.

REUTERS

China remains underwhelming
To be sure, there aren't many obvious reasons for the rot to stop other than the bearishness may be overdone in the short-term - the MSCI Asia ex-Japan index is down eight days in a row, its longest losing streak since January 2020, and China's blue chip index has fallen nine of the last 11 sessions.



The flow of economic data and policy actions out of China remains underwhelming. The latest figures show land sales revenues for the government fell for a 19th straight month and overall fiscal revenue growth slowed in July.



Foreigners sold Chinese stocks for the 11th day in a row on Monday, dumping nearly $1 billion via the Stock Connect, and reaction to the central bank cutting the one-year loan prime rate by 10 basis points and leaving the five-year rate unchanged was one of overwhelming disappointment.



The spread between Chinese and U.S. 10-year bonds widened to 180 basis points on Monday, the biggest gap since January 2007 and a growing source of severe downward pressure on the yuan.

[dTraderB]

"Bond selling extended on Tuesday to drive 10-year Treasury yields to fresh 16-year highs in Asia trade and leave already-nervous stock markets cautious.

The move has no obvious trigger. But it isn't inflation, as inflation expectations have hardly budged -- investors are plainly demanding a higher return to keep on buying the stuff.
Some analysts have drawn attention to the coincidence of timing between the selloff and the Bank of Japan's signal that it would allow 10-year Japanese yields as high as 1%.



Perhaps traders are front-running a withdrawal of Japanese capital. At the same time, the theme of the Federal Reserve's forthcoming Jackson Hole symposium - "structural shifts in the global economy" - has some speculating that bond markets better shift, too, especially at the longer end.



Either way, with inflation-insulated returns of 2% on offer for 10 years the implications for risk appetite across the rest of the financial world are significant.

Small beer on the data calendar on Tuesday will keep the focus on yields and on Fed Chair Jerome Powell's Jackson Hole speech on Friday."

[dTraderB]

ES 4438.5 HEDGE SHORT
NQ 15107 HEDGE SHORT

LARGE ASIAN LONG POSITION
Medium US LONG POSITION

HOLDING ALL.... will add below ES 4370

[dTraderB]

CHINESE PPT PLUNGE PROTECTION TEAM intervened last night. HANG SENG SHOT UP 2% . Challenge to SHIRTS THERE is to keep low, short small, and escape the Chinese PPT. FOR LINGS, we welcine them.

ES 4438.5 HEDGE SHORT
NQ 15107 HEDGE SHORT

LARGE ASIAN LONG POSITION
Medium US LONG POSITION

HOLDING ALL.... will add below ES 4370

[K Wave]

And yet another earnings reaction disaster...they are happening everywhere you look right now...beat or no beat

 

NVDA earnings reaction could be interesting tomorrow after the big ramp into it....

 

Meanwhile no key breaches of support in the averages yet (other than Utes looking highly suspect)

 

Leader Tesla has hit the 240 bounce target pre-market...see what happens next....a typical day and a half searing bear bounce, or do bulls have something left???

 

[12SPX]

Generally Nividea falls after it reports one guy said yesterday and I've noticed that most of these AI companies have fallen afterward.  My average short is now 4420 from this ramp up overnight for no real reason as bond yields remain near highs and strangely call prices have gone insanely high in price again.  I've also noticed that when the bulls start talking up up up or down down down the opposite happens lol!!  Yesterday everyone was saying the market would be down today, unfortunately I shifted to short  but you never know after the cash market opens lol!!  

[redfoliage2]

Again the opening pop got sold, and it's likely that the gap is to be filled  ................

Edited by redfoliage2, 22 August 2023 - 08:46 AM.