When all else fails – crash the currency! That's what we're seeing this morning as the Greek "fix" pops the Euro and drops the Dollar over 1%, from 97 at yesterday's close to 95.55 earlier this morning, when I called for re-shorting the Future in a Morning Alert to our Members at 6:36 am (EST) . My comment on the idiocy was : Yesterday morning and last night our shorting lines were: " Dow 17,700 (/YM), S&P 2,070 (/ES), Nasdaq 4,410 (/NQ) and Russell 1,240 (/TF) because nothing is fixed – just more cups and balls " and this morning only the RUT is over the line so, technically, they are the laggard and we can short them on a cross back below 1,240 but no conviction – tight stops over that line! /NKD is also a good short below the 20,000 line – also with very tight stops above. This will be our 4th time back to the well this week as the Dow, for example, has moved an average of 250 points down AND 250 points up each day. This morning, we're 180 points up but the pattern is that old, familiar BS pump-job in the Futures followed by heavy selling all day as our beloved Banksters and Fund Managers dump their shares on the retail suckers who pile in to buy the f'ing dips. And who can blame them? The Corporate Media is full of assurances that all is well with a parade of analysts making bullish predictions and brushing off events in China and Europe as if they are mere bumps in the road towards Dow 20,000. According to Bloomberg : " While the efforts have helped boost the largest stated-owned companies—oil giant PetroChina has gained 22 percent since June 26—they have so far failed to revive overseas investors’ confidence. Dual-listed Chinese stocks traded 33 percent lower in Hong Kong than on the mainland, the biggest discount since 2009, suggesting investors abroad are more pessimistic than the locals on the valuation of the companies ." The average dual-listed stock in Hong Kong is 33% less than it's trading in China, which means the "bounce" you're seeing in the Shanghai Composite is COMPLETE BS. I mean, of course it is with half the stocks not trading and short sellers facing arrest and the Government buying stocks and now (today's new stimulus) forcing IN PROGRESS
When all else fails – crash the currency!
That's what we're seeing this morning as the Greek "fix" pops the Euro and drops the Dollar over 1%, from 97 at yesterday's close to 95.55 earlier this morning, when I called for re-shorting the Future in a Morning Alert to our Members at 6:36 am (EST). My comment on the idiocy was:
Yesterday morning and last night our shorting lines were: "Dow 17,700 (/YM), S&P 2,070 (/ES), Nasdaq 4,410 (/NQ) and Russell 1,240 (/TF) because nothing is fixed – just more cups and balls" and this morning only the RUT is over the line so, technically, they are the laggard and we can short them on a cross back below 1,240 but no conviction – tight stops over that line! /NKD is also a good short below the 20,000 line – also with very tight stops above.
This will be our 4th time back to the well this week as the Dow, for example, has moved an average of 250 points down AND 250 points up each day. This morning, we're 180 points up but the pattern is that old, familiar BS pump-job in the Futures followed by heavy selling all day as our beloved Banksters and Fund Managers dump their shares on the retail suckers who pile in to buy the f'ing dips.
And who can blame them? The Corporate Media is full of assurances that all is well with a parade of analysts making bullish predictions and brushing off events in China and Europe as if they are mere bumps in the road towards Dow 20,000.
According to Bloomberg: "While the efforts have helped boost the largest stated-owned companies—oil giant PetroChina has gained 22 percent since June 26—they have so far failed to revive overseas investors’ confidence. Dual-listed Chinese stocks traded 33 percent lower in Hong Kong than on the mainland, the biggest discount since 2009, suggesting investors abroad are more pessimistic than the locals on the valuation of the companies."
The average dual-listed stock in Hong Kong is 33% less than it's trading in China, which means the "bounce" you're seeing in the Shanghai Composite is COMPLETE BS. I mean, of course it is with half the stocks not trading and short sellers facing arrest and the Government buying stocks and now (today's new stimulus) forcing
IN PROGRESS
