This selloff regarding citi is the perfect buying opportunity. So much hype and fear over something so intangible and unpalpable and undefined. When there are real problems you;ll know. This isnt one of them. No one cares about citi. NO one expect people here, cnbc, barons. Smart money takes advantage of idiots who sell and short in to unfounded fear. The dow will go to 15000 by end of year and we will continue to rebound huge today.
With the advantage of coming here from HK and reading HK newspapers, I know QDII better than Wikipedia. There are a lot of qualified QDII already. HK stock market went up from August because of a scheme that will allow chinese residents investing in HK stocks by themselves. QDII are qualified funds that can invest up to 30% in HK stocks. The direct investment scheme was announced in Aug (I was in HK at that time), but was delayed without annoucing the reasons at that time. Expecting a massive money supply from Chinese residents to HK stock market, HK market went up. Yesterday Chinese Prime Minister said there are a lot of legal and political issues that need to be resolved before the direct-investment scheme can proceed, and made it official that it will take a long time. Initially it was planned to proceed in mid Aug. http://www.news.gov.hk/tc/category/businessandfinance/071103/html/071103tc03003.htm Read the link if you understand Chinese.
When you get a massive selloff in HK, the US market usually don't follow the HK market. When US market sells off, usually the HK market will follow (at least at open).
Stock_Trad3r = Sir Mix Alot <object width="425" height="355"><param name="movie" value="http://www.youtube.com/v/41APzy5kqBU&rel=1"></param><param name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/41APzy5kqBU&autoplay=1" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object>
stock will learn the hard way why it is a big deal. There are >250 trillion in derivatives. there is a massive amount of CDS that when set-off by an event will likely cascade. some of the sellers will be unable to pay, leading to further losses. I know you bought that red phone for your room, thinking that Ben will call you when the top is in. Just keep waiting, it'll ring!
I'm just hoping we hit 12800 so Stock Trad3r can delete his account like he promised. Of course, I have slim hopes for him keeping his word, but it would sure be nice to see. It's only 700 points away.
Um I said I would delete my account if we enter a bear market. Anyway, looks like the 2:30 rebounders are in full force wow dow up 60 points form daily low still in that trading range mock me now, envy me later werd