Chinese market up Thu night 4.8%

[68Camaro]

Should be an interesting week next 18 hours....
Sunday night into Monday, down >8%.
Monday night into Tuesday down another 7.6%.

China is now near it's recent long-term highs, so they've lopped the top off of most of their bubble. Where does it go from here...

So China cuts interests rates and loosens bank rules. Shanghai market struggles back and forth but at end of day...

Tuesday night into Wednesday down another 1.3%

After Europe bounced Tuesday, with US continuing down and China as well, they are down at start of Wednesday as well.

Maybe time for a breather - a lot of money has been destroyed, some exhaustion has no doubt occurred with so many consecutive down days, and absorbing all of what has happened may take some time to sink in before any "knock-on" effects start kicking in.

QE4 here we come?

Wednesday night into Thursday up 5.3%

Thu am comments: And a breather we had, for a day. Maybe for several more. But you can't destroy trillions in capital in a fragile market without someone getting hurt. Let's see what happens.

Thursday night into Friday up 4.8%

China up again - but with a clear Chinese PPT action after a negative trend, which pumped the index up to the close. They are still not recovered. And some evidence of mixed markets around the globe with Hang Seng down 1% and Europe choppy and slightly negative as I write this. In the US I woudld have thought that the PPT would probably continue their upward push, afraid to trust being able to let off of the pedal just yet. However S&P Futures are down this morning.

[rsk1963]

one of the few instances you can see a shock wave creating out around the world

[68Camaro]

Apparently there is a 10% max drop allowed on the chinese markets according to a link from Ray but not sure if that is per stock or for the whole market.

[coindood]

Apparently there is a 10% max drop allowed on the chinese markets according to a link from Ray but not sure if that is per stock or for the whole market.

Well, that might get utilized early, now down 8.5% in only two hours of trading.

[aloneibreak]

get this...

http://www.cnbc.com/2015/08/23/china-gi ... arket.html

im gonna go out on a limb and say china is in complete collapse

[coindood]

Dow futures are now at -417.00 for Monday (I initially wrote -388 but it's dropping pretty quickly).

China's plunge has wiped out all its 2015 profits.

[68Camaro]

For another day or two of major declines we're still burning off the top of the recent bubble. China was in a major bubble of <1 year old. The western markets were in a post-2008 mini-bubble. Markets are going to need to drop another 15% before we're into long-term crash mode. If this accelerates, we're there. If the Dow hits 14k and stops, it's a correction.

Remember, we could still burp badly, correct, and move up to a new major high before the big one happens.

[beauanderos]

and... silver gets pummeled. At least gold is holding up for the time being.

[68Camaro]

Expecting another down night for china..

[Chief]

Expecting another down night for china..

Opens at 9:30 eastern time, right?

[rsk1963]

Expecting another down night for china..

Opens at 9:30 eastern time, right?

Yep...

https://youtu.be/ikssfUhAlgg?t=1m10s

[68Camaro]

And so another night starts badly for the market. But it will take another night or two of this to lop off the chinese bubble of 2014-2015. Key will be what happens at the end of this week and next.

[rsk1963]

and another 6% evaporates as it stands.... hold on to your trousers and restock your toilet paper.

[rsk1963]

bright side here... oil stopped just under 38, seems to be (at least temporarily) leveling out

[theo]

and another 6% evaporates as it stands.... hold on to your trousers and restock your toilet paper.

Great. Another rough day tomorrow. What link do you use to get Asian market info?

[beauanderos]

and another 6% evaporates as it stands.... hold on to your trousers and restock your toilet paper.

Great. Another rough day tomorrow. What link do you use to get Asian market info?

http://www.bloomberg.com/markets/stocks/world-indexes/asia-pacific

[68Camaro]

Edited the title again. Looks like at least an early market dead-cat / PPT fueled bounce, with the marketeers playing each other, but who can say that the economy is healthy, in truth. Eventually it's going down more. But they will try to use a resting phase to prop it back up.

[68Camaro]

And... they failed... I almost laughed when I saw the end of US trading today.

More blood tonight.

[theo]

Something strange happened at about 3:20 pm EDT. I was listening to Fox Business while driving home and the host (Liz Claman) passed on a rumor she got from a floor trader about "troop movements" in China, specifically Beijing. She later used the term "political instability" when referring to China. The steady market decline we were seeing quickly seemed to turn into to a route. I haven't heard anything about this rumor since.

Not exactly responsible reporting.

[rsk1963]

[68Camaro]

OK - what is that a picture of?

[smalltimeopn]

Something strange happened at about 3:20 pm EDT. I was listening to Fox Business while driving home and the host (Liz Claman) passed on a rumor she got from a floor trader about "troop movements" in China, specifically Beijing. She later used the term "political instability" when referring to China. The steady market decline we were seeing quickly seemed to turn into to a route. I haven't heard anything about this rumor since.

Not exactly responsible reporting.

The World Track and Field Championships are currently taking place in Beijing. I believe they finish on August 30. I did not hear or watch the news report so I don't know if the championships have any connection.

[rsk1963]

OK - what is that a picture of?

blood in the street

[68Camaro]

Ah - sorry, I'm (partially) color-blind - it looked more like mud than blood at first glance, until you clarified.

Yep, blood in the street...

[68Camaro]

Updated title and notes - China ends down slightly and Europe not liking it at start of Wed.