16 replies to this topic

[BigBadBear]

China is exhibiting irrational exhuberance and that western markets will pay the price !

Edited by BigBadBear, 29 May 2007 - 08:49 PM.

[Mtrader]

Faster down the faster it recover.

[redfoliage2]

Faster down the faster it recover.

Maybe not this time. Historically, chinese market got a correction when the government increases the stamp tax on trading.

[redfoliage2]

Faster down the faster it recover.

Maybe not this time. Historically, chinese market got a correction when the government increases the stamp tax on trading.

I'm sure chinese government still has other means to cool down the stock market if its mediocre interference fails to achieve its purpose.

Edited by redfoliage2, 29 May 2007 - 09:32 PM.

[selecto]

"The last time the government raised the tax was on May 10, 1997, when it was lifted to 0.5 percent from 0.3 percent. The Shanghai Composite Index rose 2.3 percent after the announcement."

Bloombnerg story.

[Mtrader]

Already recovered most of the lost. I tell u, there is plenty of money out there.

[redfoliage2]

"The last time the government raised the tax was on May 10, 1997, when it was lifted to 0.5 percent from 0.3 percent. The Shanghai Composite Index rose 2.3 percent after the announcement."

Bloombnerg story.

But it was followed by a correction which put chinese stock market into a multi-year bear market.

[redfoliage2]

"The last time the government raised the tax was on May 10, 1997, when it was lifted to 0.5 percent from 0.3 percent. The Shanghai Composite Index rose 2.3 percent after the announcement."

Bloombnerg story.

Started from next day, it was down 30%.

[redfoliage2]

"The last time the government raised the tax was on May 10, 1997, when it was lifted to 0.5 percent from 0.3 percent. The Shanghai Composite Index rose 2.3 percent after the announcement."

Bloombnerg story.

Started from next day, it was down 30%.

SSEC back down 4.7% again after the short bounce. the 4000 line could be tested in the next few days.

[Russ]

In dow terms it is down over 500 points, it is crashing. Looks like the parabolic party is starting to end for now. Hard to see how people can think the dow/spx etc. are going to make new highs now.