The turd index is up $771.00 or 1.13% at the close from where I initiated with a STRONG SELL rating.
Symbol Last Trade Change Shrs Price Paid Gain
- - 44.13 100 4,426.00$4,426.00 CHNR 4:00PM ET 44.26 Up 5.01 100 44.13 13.00Up $13.00 Up 0.29%
- - 11.78 400 4,466.40$4,466.40 CSUN 4:00PM ET...
I've made a portfolio of the China Turd Index, with up to $5000 for each stock, rounded down to the nearest 100 shares. Here are the results at 2:45 pm EST.
Symbol Last Trade Change Shrs Price Paid Gain
- - 44.13 100 4,433.80$4,433.80 CHNR 2:46PM ET 44.27 Up 5.02 100 44.13 20.80Up $14.00 Up...
Yeah, definitely hard to short these stocks, ver difficult to borrow. I see the frenzied action and in the short term(1 day to 2 weeks), I think its a top. In the medium term (2 weeks-3 month time frame), these daytrader play things could go higher, but could also go much lower. In the long...
Ok, by popular demand, I have started the China Turd Index.
They will include 16 Chinese stocks which have gone up solely based on momentum with crappy fundamentals and absurd valuations.
Here are the Sucker's Sixteen and the price as of ~1:45 pm EST October 4 2007:
CHNR 44.13
CSUN...
CHNR, SCON, CTDC, CSUN, JRJC, KONG, RCH, CPSL, CDS, CBAK, etc.....
There are tons of them that bubbled up because they were China stocks, not because the fundamentals changed. Most are garbage stocks.
There is a difference between China stocks that daytraders are all over and the bigger cap stocks that trade on the Hang Seng and the Shanghai exchanges. I am calling a top on the crap that has gone up 200-400% in a few days on pure China fever. Absolutely braindead buying, I am sure the adept...
I hate to call a top on a bubble, but these China stocks that daytraders are all over are tremendously overbought and the fundamentals on most of these stocks are horrible. The best Chinese stocks aren't daytrader stocks and don't move much, its really the worst Chinese stocks that are running...
Trend following doesn't work well these days, it was a strategy doomed to fail once Richard Dennis and the Turtles became famous and he had disciples doing the exact same thing.
Look at Dunn Capital, they have been nearly destroyed in the past couple years in trend following and they lost...
The market is adjusting to the new Fed, I thought Greenspan was easy, but Bernanke is a friggin money whore. LOL He's never met a helicopter he didn't like.
He might cut 50 bp on Halloween, trick or treat!!!!!!!!!!
Don't you mean August expiration? The options expiration in July was fairly uneventful and the S&P was still above 1500, I don't think even Vic could have blown up then with those 15,000 S&P 500 puts.
Being down 10% is blowing up? That's an ultra conservative definition of blowing up.
I figured you would have had to lose at least half your money to consider it blowing up....
Because the TIPS is priced off of the CPI, not real inflation. That's why.
If the TIPS was actually priced off of real inflation, it would be a totally different story and you could actually hedge your inflation risk with it, now its merely a government playtoy because the government...