Sold 1/2 C: 4.09. I'll buy again if we dip below $4.

Lower my bid for FUQI to 10. Don't like the rainbow effect caused by this crazy snake.

Closing update:
Dow 10785.89 +43.91 +0.41%
Nasdaq 2395.40 +20.99 +0.88%
S&P 500 1165.81 +5.91 +0.51%

Wow!.. crazy bullish market again. Didn't really expect this.

I've exited my FXP for now. Too close for comfort. Will try again later.

This post has been edited by danmooncake: Mar 23 2010, 08:04 AM

I hate buying into extended bull market.. and we are over-extended in this run. The bears have the last three session to take this down but they're didn't, therefore the bulls gain another ground and this market will go higher.
The market can turn about anytime too. Looking at most of the Dow component, most of them are at 52 weeks high. I'm very cautious at this level and be buying only on those strong stocks on a pullback.

11000 not yet broken-lah.. only 10830 now.

Back in FXP to short China.


Closing update:
Dow 10888.83 +102.94 +0.95%
Nasdaq 2415.24 +19.84 +0.83%
S&P 500 1174.17 +8.36 +0.72

Wow! Did you see that?
Dow closed at 10888.83

That's a very "fatt choy" auspicious number!


Anyway, I'm surprised at LVS. Is the economy so good that people are flocking back to the casinos?
Oh wait.. the stock market is the casino, right?


This post has been edited by danmooncake: Mar 24 2010, 06:55 AM

Perhaps they did. Doesn't matter to me. I'm not holding any ERX at the moment.
One cannot hold those 3x ETF for long. They lose in value even the stock market doesn't move.

Don't wait for STEC and FUQI anymore, they're not moving.

Anyway, did you see S? The latest news from Sprint basically gave this a boost.
I think S got a break out now.

FUQI is moving now.. but I don't trust it. Too much head fake.

But, I'm enjoying my FXP popping..

Right now: I'm letting half go now at 8.5, ka-ching! $495 profit!

Riding the other half with stop at 8.35

For the past 30 days, FXP has been in a tight channel 8.0 to 8.9 at most. But, most of the time, it is below 8.5. Therefore, I'm selling into the rally up. If Dow pulls back below 10500, FXI below 39, then FXP will most likely back up to 9 or higher.

As for playing China bubble - man.. yes, they have a inflating balloon.. but not yet ready to burst yet.

Good luck!



This post has been edited by danmooncake: Mar 24 2010, 11:57 PM

C - damn.. it is pretty resilient. Broke above 4.15 even on down days on Dow and S&P.
Now it seems, one must buy if pullback below 4.0.

Closing Update:
Dow 10836.15 -52.68 -0.48%
Nasdaq 2398.76 -16.48 -0.68%
S&P 500 1167.72 -6.45 -0.55%

The smart money took some off the table but the Dow, S&P and Nasdaq still very high.
We need more pull back...

This post has been edited by danmooncake: Mar 25 2010, 04:30 AM

I think the jobless claims will be pretty dire but who knows. The govt usually try to fudge those numbers by excluding those already given up hope looking for work. There are still a lot of people jobless in US and this number is growing every month.

Nice!

Anyway, due to decline today for China stocks. FXP should rise up a bit more today.

This post has been edited by danmooncake: Mar 25 2010, 07:10 PM

Yup..set at 10c trailing now.

Psst.. watch FUQI tonight. Going to be volatile due to possible earnings announcement.

This post has been edited by danmooncake: Mar 25 2010, 07:40 PM

They called 'em green shoots.. Crazy bulls.

I'm keeping my C shares here..not buying or selling at this level.
Will buy more if we pull back to low $4 or below.

Moved up my trailing stop for FXP to 5c higher and stopped out at 8.55. Another small profit.
That's it. I'm out.

Since we're already so bullish over at US market, I think the bear market over China may reverse and follow suit tonight. I'll hold before going short again.



This post has been edited by danmooncake: Mar 26 2010, 01:02 AM

Yes, hoping one day C will double/triple in value and then I can retire... << just kidding >>

Here's what I'm thinking - It is not the best of breed of banks - yes, but it is the poster child and
US govt won't let it fail. It is slowly unwinding its toxic assets and generating revenue to offset the loss,
which has been good improvement for the last two quarters.

C now is cheap, imo, potential for more upside when it finally gets rid of the govt grasp.
I'm seeing at least $6~$7 by end of next year.

I'm not pouring all in.. just scaling in my position during pullback.

Good luck!

This post has been edited by danmooncake: Mar 26 2010, 02:00 AM

Closing update
Dow 10841.21 +5.06 +0.05%
Nasdaq 2397.41 -1.35 -0.06%
S&P 500 1165.73 -1.99 -0.17%

Looks like the bulls given up the gains and retraced, didn't they?
The Dow touched 10954 and back away..

Anyway, I was fake out this morning by the relentless bulls for FXP and got kicked out at 8.55
I ended up chasing it a bit to scramble back in with a much higher price: 8.60. No excuse, bad judgment here
for setting too low for trailing. The chart for FXP is bullish, the chart for FXI is bearish. Heck, both HSI and SSEC now are bearish. If China and HongKong continues to pull back, FXP could break above 50MA at 8.95.

Who dares to short China with me?

True... Hee- yaw! yippee kay yeh .. LOL!

Let see what tonight will bring..

Time for breakfast and sign off work.

Yes. Q to buy 34.

Also, hope to see red red colour for China and HongKong today so that we can 'fatt choi' for FXP tonight.

Ok, time for my nap.. see you guys tonight.

Bought some XPP premarket to hedge up with FXP reversal since we got good numbers from HSI and SSE.
I don't see China going bull yet.. perhaps more opp. to short. later. Infact, thinking of buying more FXP if we drop below 8.5.

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Added on March 26, 2010, 8:50 pmOption Expiration was last Friday. Nothing happening today except for stupid revised govt fudge GDP numbers.

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Added on March 26, 2010, 9:12 pmNice, the faster govt unload, the faster it will rise.



This post has been edited by danmooncake: Mar 26 2010, 09:12 PM