Dont worry Shanghai at "ANOTHER" record high.

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S2007S

I know many of you are thinking that this post is a waste of time, I do not. After a brief sell off last week that lasted about 1 day, the shanghai has gained it all back and is now rallying to record highs.

At this pace it should be 4000 by mid may and 5000 by the middle of the summer. This market has UNBELIEVABLE STRENGTH.



SSE Composite Index (Shanghai:000001.SS) Delayed quote data Edit
Index Value: 3,659.48
Trade Time: 10:35PM ET
Change: Up 75.27 (2.10%)
Prev Close: 3,584.204
Open: 3,615.789
Day's Range: 3615.79 - 3660.00
52wk Range: 1,512.52 - 3,623.8
 
I don't think it matters anymore. When a market trades like that anything goes. I think the steeper the one day sell off is in Shanghai the stronger it gets. If it drops another 5% this week its headed for 4000 quicker than most will think.
 
China shares rise over 1 pct to record high
(Reuters)
Updated: 2007-04-23 10:59

SHANGHAI - China's stock market jumped more than 1 percent on Monday to a record high, as inflation worries which caused the market to plunge last week receded. After five minutes of trade the Shanghai Composite Index was up 1.16 percent at 3,625.761 points, passing the previous all-time, intraday high of 3,623.867 hit last Wednesday.



On Thursday, the index tumbled 4.52 percent in a single day after March inflation data raised fears of an interest rate hike.

But investors have flocked back into the market since then, believing huge new sums of money raised by mutual funds in recent weeks will keep demand for equities strong.

A commentary by a reporter in the official China Securities Journal on Monday said a rate hike before a long public holiday in early May remained very unlikely, partly because inflationary pressure was not that strong.
 
closed at intraday highs, 4000 by the end of week is possible.


SSE Composite Index (Shanghai:000001.SS) Delayed quote data Edit
Index Value: 3,710.89
Trade Time: 3:00AM ET
Change: Up 126.68 (3.53%)
Prev Close: 3,584.204
Open: 3,615.789
Day's Range: 3615.79 - 3710.89
52wk Range: 1,386.13 - 3,623.87
 
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