Friday, August 08, 2008

Happy Olympics......

With the Olympics beginning in just a few hours it is time to revisit one of the greates spin attempts a year ago. Near the top the mantra was that the the communist party will prop up the markt until the games will begin.... Every time you hear so much desperation to keep the party going it is time to exit or to to short....... Here comes my collection of posting on this topic Nasdaq vs China... Nobody can say that there wasn´t enough evidence that something was a little bit "frothy"......

Da die Spiele in ein paar Stunden offiziell eröffnet werden ist es höchste Zeit einen der verzweifeltens Spinversuche der im letzten Jahr die Runde gemacht erneut der Lächerlichkeit preis zu geben..... Nahe dem Hoch im letzten Jahr macht plötzlich die These die Runde das die chinesiche Regierung den Aktienmarkt bis zum Beginn der Spiele stützen wird.... Immer wenn solch abstruse "Argumente" hervorgeholt werden müssen um die Party am laufen zu halten ist es höchste Zeit auszusteigen bzw. short zu gehen....... Wer Lust hat kann sich meine Kollektion an Nasdaq vs China Postings aus dem Jahr 2007 ansehen.... Wer beim Betrachten dieser Datenlage nicht erkennen wollte bzw konnte das hier etwas nicht ganz "stimmig" ist muß zwangläufig bei einer Bank bzw Broker arbeiten......

Thanks to Bob Gorrell

Shanghai drops to 52-week low before Olympics
HONG KONG (MarketWatch) -- Chinese stocks in Shanghai and Shenzhen slumped Friday, finding little support ahead of the Beijing Olympics opening ceremony later in the day, as concerns about a slowing economy weighed down property developers and steelmakers.

The benchmark Shanghai Composite index, which tracks both the yuan-denominated A shares as well as B shares priced in foreign currency, slumped 4.5% to 2,605.72, its lowest close in the past year. The All Share index in Shenzhen tumbled even more, finishing 5.6% down at 747.34.

At Friday's closing level, the Shanghai Composite, which nearly doubled in 2007, has lost a little more than half its value at the end of last year and is down more than 57% from its 52-week high of 6,092.06.

"You would have expected Shanghai to be getting a treatment, but markets are being left to their own [fate]," said Howard Gorges, vice chairman at South China Brokerages. "There's speculation that Beijing may try and engineer a [Olympics] rally, but next week we may see markets falling quite low, in Shanghai as well."

> And the spin is still alive and kicking...... :-)

> Und wie man sehen kann hat selbst eine Halbierung einige nicht davon abhalten können sich weiter an dem anscheinend letzten Stohhalm zu klammern..... :-)

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2 Comments:

Blogger Slagella said...

I've never quite understood why a few thousand people running around in circles for two weeks is such a big deal. Oh well.

2:35 AM  
Anonymous Barley said...

1000 people = IOC = Mega Bucks. For a few hundred million you would run in circles, too

6:07 AM  

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