The Asian meltdown has begun...

The Kin · Jun 10, 2008

Jim Rogers Arbitrage: Long Airlines, Long Crude, Short Dollar

On a side note, their is some great moves to be caught in forex the last couple nights!

newguy05 · Jun 10, 2008

man looks like shit hit the fan in china. Shanghai index down 7.7%

The Kin · Jun 10, 2008

Europe getting hit too

This looks like a job for

mokwit · Jun 10, 2008

Quote from newguy05:

man looks like shit hit the fan in china. Shanghai index down 7.7%

All those trapped suckers who bought the story that the market could not go down until the Olympics was over. Almost as sad as those listening to Buffoonke, Paulson and all the Wall St talking heads.

Willleung · Jun 10, 2008

Quote from The Kin:

For real?

It was 3% just a few minutes ago which is normal for that joke they call an exchange.

Shanghi SSEC (A) close 3072, -257 pts, -7.73%

3% is da HSI, with international involvement since the early 80s. They are f'd up over there in Shanghi, but since most of the important stocks also listed in HK, panic in Shanghi helps the market in Hong Kong (reads vola).

Willleung · Jun 10, 2008

Quote from mokwit:

All those trapped suckers who bought the story that the market could not go down until the Olympics was over. Almost as sad as those listening to Buffoonke, Paulson and all the Wall St talking heads.

well, those are retired people, with little education and lots of greed who hang around brokerages for a piece of ACTION, ROTFLMAO..

no, I change my mind, those greed bastards also includes those 100m educated people in major cities

who think they are Buffet, and willing to sit out a bear market.

watch the 3000 marks on da Shanghai SSEC index, after that, hold on tight

newguy05 · Jun 10, 2008

Quote from Willleung:

well, those are retired people, with little education and lots of greed who hang around brokerages for a piece of ACTION, ROTFLMAO..

no, I change my mind, those greed bastards also includes those 100m educated people in major cities who think they are Buffet, and willing to sit out a bear market.

watch the 3000 marks on da Shanghai SSEC index, after that, hold on tight

bullshit, a lot of market makers are in the sunken ship over in china too. Keep in mind, it is still a very young and inexperienced market with unbelievable amount of manipulation. Most people including the "professionals" started trading only 5-10 years back over there.

Mokwit, where did you hear about that sentiment "market wont drop until after the olympic" That's interesting, a friend of mine (who invests casually in the shanghai index) in china just told me the exact same thing a few days ago lol. Dont think he's going to be too happy today.

mokwit · Jun 10, 2008

It was common belief, in other words a rumour put out by the big players to unload into. People believe what they want to believe.

Mokwits Rule. Any information that finds its way as far as you did so because it is being pushed, so asume it is disinformation.

Willleung · Jun 10, 2008

Quote from newguy05:

bullshit, a lot of market makers are in the sunken ship over in china too. Keep in mind, it is still a very young and inexperienced market with unbelievable amount of manipulation. Most people including the "professionals" started trading only 5-10 years back over there.

Mokwit, where did you hear about that sentiment "market wont drop until after the olympic" That's interesting, a friend of mine (who invests casually in the shanghai index) in china just told me the exact same thing a few days ago lol. Dont think he's going to be too happy today.

mate, I ain't talking about instituations and professionals, I am talking about those retails who buy stocks coz their friends brought some and make some $. I am a Hong Kong chinese, and I know enough mainland (and Hong Kong) retails who trade with greed.

but you pointed out one thing, manipulation or not, local institutions have very little history under their belts, and yes I would say they get hurt also. The market in Shanghai opend 87 or 88..

newguy05 · Jun 10, 2008

Quote from Willleung:

mate, I ain't talking about instituations and professionals, I am talking about those retails who buy stocks coz their friends brought some and make some $. I am a Hong Kong chinese, and I know enough mainland (and Hong Kong) retails who trade with greed.

but you pointed out one thing, manipulation or not, local institutions have very little history under their belts, and yes I would say they get hurt also. The market in Shanghai opend 87 or 88..

Yes all the retail who made their money from the real estate boom and dove nose first into the market are frozen in that deer in the head light moment. Most has no idea how to trade or what stop loss means, the past 2 years of super bull only fueled the belief that all you need to do is put the money in. Now they dont know how to deal with the bear, most still believes hold and ride the elevator. What happens if the elevator doesnt go up anymore?

All i was saying are the institutions and "hedge funds" over there are not that much better off either, unless you are well connected and big enough to move the market.

Mokwit, i think it's possible the stock will bounce before the olympics. Knowing the government, they would want the citizens to be happy before the olympic as to not cause any trouble. Although with all that has happened in china, who knows if the government would even care anymore.