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Asian Markets Mixed: China Jump, Crude Dump, Japan Slump
The exuberance of illiterate Chinese citizens knows no bounds as Shanghai Composite surges once again to record-er highs (now up over 15% in March alone) with some modest give back off the highs of the day. Japanese stocks on the other hand have folded like a cheap lawn-chair, giving up all their US session gains and down over 200 points from the US cash close. A similar pattern is seen in crude oil which has retraced most of the idiotic NYMEX close ramp.
China Jump... (but giving some back intraday...)
After a 15%-plus surge in March (that is exponential even on a log-scaled chart)
China is the 2nd best performing equity index in the world (in USD terms) in March - after Venezuela!!!!
and then there's the China Enterprises Index (HK) - high beta mupetry... which is up 5.5% in the last 2 days - the biggest jump in 17 months... The last time it jumped as exuberantly as this it collapsed with a month...
Japan slumping and decoupled from USDJPY...
And Crude dumped the late-day ramp...
Charts: Bloomberg
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"Chinese vortex.". Fed needs to say resolute here. " Confidence" means seeing through the valley and still feeling you will get to the other side.
Dow lost 22% in a single day in 1987...but remained flat on the year. "Brady bonds would be there" and indeed they were. That included a massive bank bailout of the S&L's too. Now is not the time for second guessing or returning to "the glory days."
Stay the course...and perhaps create a recovery in the process.
Emerging Muppets.
#41
those illiterate Chinese will likely each make upon dozens of percentage returns above even a score of literate western BA grads combined
so i'm sure they'll be ok with the negative title
China, shmina...
The shit hasn't even began to hit the fan yet:
Saudi Citizens Condemn Al Saud's Aggression on Yemen
Yemen has already taken out two Saudi fighters.
If the mess in Yemen is joke, then the Saudi army is the punchline, because that army is a merc army.
BTW I feel sorry for the Yemeni people, and their suffering is no joke.
Rich Americans are moving to New Zealand or buying second homes built in hardened Minuteman missile silos for a reason. That reason is that they think the insane CIA Manchurian Candidate who occupies the Oval Office is doing his level best to start World War III. "Staying the course," even said in jest, is not an option. The only certainty is that when the worst happens, we will have plenty of lying commentators saying they forsaw the calamity.
Anyone know any rich Americans moving to NZ? I have some real estate I'd like to move.
Why would want to move the RE, don't you like NZ?
It's surplus to requirements.
I've never been out of NZ , and still see no reason to change that fact.
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com
Now that you're rich you need to move to New Zealand...talk to farmerbraun above.
Oi! Cut that out :-)
'stay the course' just means prolonging the capital destruction. 'create a recovery'....jeez, bro,
on what fundamentals? How we gonna pay the debt? How we gonna raise savings capital at 0%?
systems broken dude.
Yeah, oil just took bit of a stumble after been ramped up before. So did Obama ...
OBAMA TAKES A STUMBLE – Obama Almost Falls Down the Steps from Air Force One https://www.youtube.com/watch?v=UrmhDkF0O24
Oil is like Stumble & Stumbler ... bots bring it up after which the market takes oil lower again and then the bots arrive again ...
Funny how when its gold or silver going up, its not "idiotic" but it is when oil does it. Confirmation bias, thy name is ZeroHedge. As oil crashes, the USD rises and PMs will therefore be crushed too. I know... "idiotic"... right?
Silver getting spanked good and hard. No support until $16.20
Clearly the inverse correlation between the Nikkei and gold has completely broken down. Maybe its only inverse when the Nikkei is rising.
Gold prices react to fiat devaluation in many different currencies. In some countries it's already going parabolic, it depends where you live.
there is no 'confirmation bias'. For those who believe in sound money, there is a ratio of physical gold to money supply that we are waaaaay out of kilter on. Gold has a long way to go to restore that historical ratio. Once we approximate that ratio, then sure, make as many stupid fucking confirmation bias accusations as you want
Bottled water is $1.22 a gallon.
I want to short it because water is free. But I can't and I hate that.
This is why bubbles last so long because things like water can come down from the sky for free and slap you in the face and you'll still buy it.
A Gallon of Bottled water costs a lot more than $1.22 I guess it depends where you live.
End of quarter. They pump stocks to get paid. That's all.
About oil? 50% drop in rig count, production 10% up. They did not close all fake rigs yet.
I am not fan of Gold but it will return with vengeance because of mentality of Asian cultures but it will no longer be western financial system.
West gave up on Gold and bets on Guns. War is the best business if you survive it.
I suggest that the markets are being viewed incorrectly: I also state that the Banking System has not only usurped the role of King (over the whole of the Human domain) but the Banking system is now the Law over all of mankind.
We are at an extremely dangerous Fatal Moment in the events of life on Earth.
http://verbewarp.blogspot.de/2015/03/fiat-currency-and-human-behaviour.html
Again, declining US production in January, Tyler. Worst since July 2011. Feel free to report on it when Goldman lets you. Rig counts don't matter, right?
http://www.eia.gov/petroleum/supply/monthly/
Listen man, the eminis were down five whole points from globex open. It's free money with no real risk, what are people complaining about?
Yep banking system is governing everything these days. It will be hard getting out of their thumb... Compare Car Parking UK
BREAKING! NEWS FLASH! JAPANESE PRIME MINISTER SHINZO ABE DEAD AT 61! modernmarketingjapan.blogspot.jp/2015/03/news-flash-japanese-prime-minister.html
I knew this was fake when he was not eaten by Godzilla