20 replies to this topic

[Vector]

I'm seeing a slo-mo melt up going on...everybody still reluctant to jump on...scared to death...that's what's causing the unabated rally since 2003...one w/o even a single >10% correction along the way. Breadth #s continue to improve, % above MA's also improving and still very strong. Best of luck to all top pickers!

Edited by Vector, 02 February 2007 - 03:43 PM.

[SemiBizz]

Yep, nobody believes that the market is going to ever go down again... Perfect.

[Vector]

like I said... Best of luck to all top pickers!

[no_mind]

Maybe the money just shifted from Shanghai to Vietmam, lol. The quote below is from Between the Hedges:

"Chinese stocks fell the most in five years this week as the Shanghai Composite fell 7.2%. It is now 11% off its recent high. Vietnam, on the other hand, soared another 10.2% this week. The Vietnam Index is now 43% higher year-to-date and 243% higher over the last 12 months."

[fib_1618]

China's a very speculative parabolic market

With a 10% growth domestic product number, I certainly wouldn't put this countries stock market in the speculative area. Iraq's stock market would be speculative. But if you're referring to Chinese politics, you and I can agree about the term "speculative" (stunning, I know).

Fib

"Chinese stocks fell the most in five years this week as the Shanghai Composite fell 7.2%. It is now 11% off its recent high. Vietnam, on the other hand, soared another 10.2% this week. The Vietnam Index is now 43% higher year-to-date and 243% higher over the last 12 months."

I stand corrected.

And just think how happy the floor traders in Chicago will be on Monday morning if the Bears win. That's got to be worth 20 SPX points...at least! And when you consider the Super Bowl indicator in all of this, wow!

Fib

[eminimee]

Maineman...I've been going on about a topping count for weeks now....that doesn't mean however I haven't been long.......still scalping both ways very successfully. You will have to look up some posts of mine re: oex.

[maineman]

Maineman...I've been going on about a topping count for weeks now....that doesn't mean however I haven't been long.......still scalping both ways very successfully. You will have to look up some posts of mine re: oex.

Thanks,,,
I'm aware of the counts and the general "toppy" nature of this long-in-the-tooth bull. And I read all of your posts. My question was sort of "why now"? It seemed to me that in the face of a pretty nice rebound out of support and a blip into new highs on postive breadth, that the apparent sudden emergence of calls for an imminent 40 point collapse in the markets by Monday didn't make sense to me.

I'm still wondering what it is that the "black monday" crowd was seeing that I wasn't seeing...

mm

[eminimee]

Well..I'm not a BM guy...just think we can start a good correction at any time now.

[pdx5]

I have sell order in for all remaining longs at monday's closing prices. Praying for the "black" part to wait till tuesday

[Tor]

If Shanghai goes down another 5-10% on Sunday Night, just think of what Monday Morning's opening will look like...

Well, if we use recent 5% decline in the Shanghai market as a proxy, wouldn't you think our markets would be up as money would again rotate into our markets as it did two days ago?

Shrug...maybe it's a simple case of who's actually leading who...if at all??

Fib

Chinese industry is a high beta proxy for the western industrial world.

Also, please read my post on popcorn over in the gold board, which goes into more detail.