Shanghai is not even open for trading AND FXI is up another 5 to 190 Amazing, when FXI finally turns down its going be a quick 25 points right off the top.
Spoken like a true beginner. Trade what you see and stop predicting. All your predictions are worthless and untradable. Of course FXI will turn down sooner or later but do you want to stand in front of the freight train right now and pray it doesn't roll you over?
if fxi turns down 25 pts thats only 10 days of its incredible 70 pt 6 week run. actually this hit $111 mid august so thats 70% 6 week run. i've been monitoring the 2009 puts and they've barely moved down the last 30 pts up so they'll make you pay huge premium to play
You know that this market is irrational, dont you??? That "trade what you see" is quite a confusing statement, I have traded stocks in an upward trend only to get stopped out, so I dont think that statement is quite the statement its made out to be.....
I believe it appeared perfectly rational to you in early August when we tanked 300 points daily didn't it??? I am humble enough to know that I am not to judge if the price an asset is given by the market is rational or not. I deal with the price action rather than rationalize it.
Was the Rally in Oct/Nov 1998 "rational" as stocks rallied like 40% from the Sept bottom? How many bears were killed because they rightfully claimed tech was way overvalued at that point! Yet the Nasdaq went on to gain another 100% from Dec 1998 to Dec 1999. Just because something is going way higher that you ever thought it could doesn't mean it will fall apart when you call it.