EEM Short

Exiting all shorts here(EEM, FXI, GS) and going long YM 13817. Looks like a ramp up coming. Looking to put the shorts back on in early Oct.
 
2008 is China's year to showcase its power - the Chinese will not allow any economic weakness and will do whatever it can to prevent a slumping economy/market. Its the same with the US - Ben Bernanke will 'act as needed' to preempt any economic weakness going into the 2008 elections.
 
Trading is looking alot like it was in early mid Jul. A good counter trend trade is setting up either late today or tomorrow.
 
I maybe a little early but I think the buying is tired and there is a lot of selling going on today. Shorting YM at 13921 and FXI 174.60. Uncle on the FXI is 182, 14020 on YM with adds at 178 and 1375 if we get there.

I am expecting a retest of the 200 day MA on the YM, or about 500-600 points lower from here within the next 3 weeks.

Edit to Add: Adding EEM short here at 147.92
 
The BSC rumor was bogus. Initially it was that Buffet was bidding for 20%, now he may be one of a group of investors. The whole thing stinks to me but if we have another triple digit ramp tomorrow I'm done. Right around 14050 I will eat the loss on all positions though I think the the GDP news is going to be bad in the AM and trap a lot of bulls late to the party.
 
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