My advice: it's a binary event. Either it happens or not and there's nothing we can do about it. The market is already down a large amount this year so pressing shorts isn't advisable. Conversely, the bounce we have seen since the bounce from 3500 is a good spot for opening new shorts. I am stalking energy again, gold, and looking at individual targets such as DPZ.
USDCNY moved to a new high today and is tracking with the yen. USDCNH is up 1.2 percent, gold failed at resistance, U.S. long bonds are following through on their bounce from last week and Hong Kong cratered 6 percent overnight.
With Chinese yuan pounded and Hong Kong down overnight, iShares MSCI Emerging Markets (EEM) is down more than 3 percent in premarket and below it's long-term support line.
FXI getting monkey hammered holy cow! Are there any Liu XiaoQi types around anymore?
ReplyDeleteOnly Xi now. It's old school bureaucracy in control, not revolutionary madness.
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