A nice start to Friday

themickey said:
Exactly, time will tell, but a plunge wont come easy or quickly I doubt.
Reason for that is the trade looks too obvious.
Obvious trades usually bite my bum. :)
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Yes, it is obvious... but this is out of the U.S.'s hands; it's China and Xi, and judging by Evergrande, Xi hasn't been subtle! He's been rather heavy-handed, and I think that this is just the beginning.

We're on opposite sites of the trade. My risk is my reward, My profit is your loss... and vice-versa. Roll the dice!

(Reddit) If Evergrande would be a 13 second video
https://www.reddit.com/r/path%3D%252Fr%252Fwallstreetbets%252Fcomments%252Fprhnu5%252F
 
kmiklas said:
Yes, it is obvious... but this is out of the U.S.'s hands; it's China and Xi, and judging by Evergrande, Xi hasn't been subtle! He's been rather heavy-handed, and I think that this is just the beginning.

We're on opposite sites of the trade. My risk is my reward, My profit is your loss... and vice-versa. Roll the dice!

(Reddit) If Evergrande would be a 13 second video
https://www.reddit.com/r/path%3D%252Fr%252Fwallstreetbets%252Fcomments%252Fprhnu5%252F
More...
BABA shorting idea you have, is that because of a belief the Chinese economy will tank dragging BABA down with it?
Some believe the US economy will tank because China economy is stronger/better organized than US, or maybe US will tank due to combination of covid and a toppy sharemarket.

The one thing in your favour is we are in September/October period, but atm I see only slight headwinds but nothing major negative in the markets.

Genuine good luck with your trade, hope it goes your way, I'll be watching but my call is I can't see this being a spectacular crash, you'll be working hard to make money.
Shorting appears to have appeal to some, I find shorting to be a mugs game, much more difficult than how it appears on paper.
 
Evergrande Isn’t China’s ‘Lehman Moment’: It Could Be Worse Than That – OpEd

https://www.eurasiareview.com/26092...hman-moment-it-could-be-worse-than-that-oped/

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The total liabilities of Evergrande account for more than double its official debt figure (more than 2 trillion yuan). Evergrande’s financial hole is equivalent to almost a third of Russia’s GDP. Its annual revenues do not reach $70 billion, and it is more than debatable whether those revenues are real, since a relevant part comes from payment commitments whose collection is doubtful. Even if they were real, these revenues are not enough to address the bond maturities, which exceed $250 billion in the short term.

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So, after all this talk, I dumped it and took some profits.

I didn't like the volatility, and the way it was moving against me.

@themickey your points also spooked me a bit.
 
I notice the Friday gap completely filled, quite strongly moved today.
As mentioned, expect volatility due to where price is near support, going short here I doubt would be plain sailing, even the Evergrande saga is not going to simple move down I doubt.
 
themickey said:
I notice the Friday gap completely filled, quite strongly moved today.
As mentioned, expect volatility due to where price is near support, going short here I doubt would be plain sailing, even the Evergrande saga is not going to simple move down I doubt.
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Thank you for your comments, and I mean it. It was because of you that I took profits, or I might have swung right back into the red... and who knows when it will go green again.
 
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