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Q: Anyone see the big crash on the Shanghai Index today? A sign?
I love buying up good stock prices when they crash, but not today or next week. Some say all signs point to a major correction. Today is Friday the 26th of June. Check out the huge crash today... I wouldn't buy in until we start seeing some action on the Chinese Gov side, like another interest rate cut or package. We've fallen -349 points as of 2:54pm..
Is this a sign that the Shanghai index will return to the 7 year crash, that was about 1890 points, should be interesting, I hope it crashes back to 1000 points, because than we could all be millionaires IF the bull market would return, yeah yeah its a pipe dreams. I'm sure china will save the market some how. All though I prefer the crash to go on.
Keep you eyes on TCL stock number: 000100
And Electric stock number 600795
Both could be good investments after the crash is over. IFFFFFFFFF it'll end soon, who knows.
8 years 42 weeks ago in Money & Banking - China
I sold my stocks two weeks ago. I decided to do when I saw a picture of some banana seller in China trading stocks on Zerohedge.The second factor was when my gf's family started talking about the market at the dining table.
People were just getting too greedy. I'll go back into stocks in a couple of years after everything crashes.
icnif77:
Yeah, we all had umbrellas opened, before the sudden downpour. Two weeks ago. Don't tell me.
RandomGuy:
Have an upvote, not sure who thumbed you down for saying the truth. Many of those wannabe traders have no clue what they are doing.
Scandinavian:
This is classic China. You know it is too late when everyone says it is a sure deal. Then the market i f'ed. Can't wait until there is talks about how slightly used German luxury cars cannot possibly drop in value, then a few weeks later I will have myself an S-class.
icnif77:
Saying the truth or 'gloating'? 'I sold my stocks two weeks ago'. Right on time. You are so clever! I envy you. NOT!
Can we see the sell slip, if above statement is so truthful?
English teachers are playing the 'eChina stock-y market'.
Remember something: ''if trader 'gloats', she/he'll always post proof together with the gloat!''
Now, cheerleaders fuk off! Read Andy's technical analysis above.
ironman510:
Yep way too greedy and most of them have no common sense when to stop.. Just like walking across the street with their head aimed down at their cell phone screen than BAM,BOOM well that's it! Game over!
xunliang:
Yeah, I find it funny how suddenly everyone and their wives are suddenly investing in the stock market, expecting to make money when they have no knowledge of what they're doing.
And down she goes another crash today on Shanghai.. Probably a Black Friday by the afternoon , maybe not if no new share
It must be market manipulation!
http://www.chinadaily.com.cn/business/2015-07/03/content_21169705.htm
P.s. first sentence is just hilarious.....
ironman510:
haha yeah they are so creative and I wonder if these guys just sit around taking secret shots at these jaw dropping guys?
Wooo so Chinese finally have given up? Sure looks like it. The gov made some moves that haven't worked YET.. 10:37 were -6.90 on Shanghai.
The question is - how high up do you think it goes??
icnif77:
Wait for the 'bottom fishing' chart wise.
CN:SHCOMP Shanghai Composite Index (INDEX) Delayed quote data | 7/3/2015 11:00 AM | ||||
| hide quote | detailed quote | options chain | chart help | ||
| Last: 3,692.4807 | Change: -220.2861 | Open: 3,793.7121 | High: 3,815.495 | Low: 3,629.5556 | Volume: 269,750,941 |
| Percent Change: -5.63% | Yield: n/a | P/E Ratio: n/a | 52 Week Range: 2,033.0036 to 5,178.191 | ||
'bottom fishing' area:
1st stop is a bit above 3000 mark; if that line is breached, 2nd stop is around 2400 area;
A bit OT, but very interesting about first possible significant move of Asian Infrastructure Investment Bank (AIIB):
http://www.zerohedge.com/news/2015-07-02/china-state-official-hints-beij...
As such, it would be difficult to imagine a more fitting pilot program for the world’s newest supranational lender than a rescue package for the birthplace of Western democracy which has been brought to its knees by that most Western of all multilateral institutions, the IMF.
with Putin-ski on the side:
http://www.zerohedge.com/news/2015-07-02/russia-gets-involved-tells-euro...
and as it looks, AIIB will be busy in EU:
http://www.zerohedge.com/news/2015-07-02/did-imf-just-open-pandoras-box
Chinese Gov. is losing control on Stawk Exchange:
http://www.zerohedge.com/news/2015-07-02/chinese-stocks-are-collapsing-a...
As one local reporter put it, despite being told not to say anything negative, "the government appeared to have lost its ability to manage the market." Chinese stocks are down 4-5% at the open, pressing new cycle lows with Shenzhen and CHINEXT now down 25% from last week.
Guys, this is a handy one page summary of Asia-Pacific stock market indexes, and currencies..etc. if you are interested.
http://mobile.bloomberg.com/markets/stocks/world-indexes/asia-pacific
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http://mobile.bloomberg.com/markets/currencies/asia-pacific/
icnif77:
I don't know! I'm not. Don't post any PNV names on the Board, because it will get blocked. Soon.
earthizen:
Haha, I know the drill. Downloading Terminator Genisys, I can watch the CAM version online but the quality sucks. The movie goes well with the stock market. 
Shanghai shares closed down nearly six percent Friday, extending their plunges of recent weeks as analysts said panic was setting in.
The benchmark Shanghai Composite Index slumped 5.77 percent, or 225.85 points, to 3,686.92 on turnover of 648.1 billion yuan ($106.0 billion). The index lost 12.07 percent over the week.
The Shenzhen Composite Index, which tracks stocks on China’s second exchange, plummeted 5.30 percent, or 117.33 points, to 2,098.48 on turnover of 505.1 billion yuan. It lost 16.16 percent in the week.
At their lowest points during another volatile day both indexes were more than seven percent down.
icnif77:
Chinese Stocks Plummet Despite Government Threats To Shorts, Europe Lower, US Closed
Submitted by Tyler Durden on 07/03/2015 - 07:52
The Greece impasse set to culminate on Sunday continues to have a massive impact on at least one stock market, unfortunately it is the wrong one, located on a continent which is mostly irrelevant to the future of the Greek people (unless that whole AIIB bailout does take place of course). We are, of course, talking about China which as noted earlier, started off horribly, plunging over 7% with over 1000 stocks hitting 10% limit down, then in the afternoon session mysteriously recovering all losses and even trading slightly higher on the day, before the late selling returned once more, and the Shanghai Composite plunged to close down 5.8%: an unimaginable 20% total roundtrip move!
icnif77:
http://www.zerohedge.com/news/2015-07-03/bofas-dire-prediction-only-direct-government-buying-can-save-china-stocks-now
