Wednesday, January 20, 2010

China

Didn't all of our hopes come from China being the next consumer. Last night or yesterday the Chinese government asked banks to stop lending so much to slow their economy. The Shanghai market took a clip of 2.93% last night. The H-Shares and Han Sang were down big also. This does not bode well for the US markets.

My aapl short i am going to remove the stop for the first 30 minutes of trading typically there are large price swings that can hit your stop.

Do you see GLD Down a buck premarket.

Take a look at GOOG also trading down $2.00 in premarket. This could get really fun over the next month. I am so bearish on tech giants that trade at this multiple and don't pay a dividend.

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