“SELL THE NEWS” GOES GLOBAL
30 August 2009 by Cullen Roche
3 Comments
The Nikkei shot 2% higher on the back of the election results. Investors immediately sold the news. Stocks in Hong Kong continue their struggles….
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Comments
And China is down another 4% tonight. You forgot to mention that.
Dip buyers came in 2 weeks Tuesday ago after China crashed. Dip buyers have been coming in since the start of this rally. Will this time be really different? Let’s hope so as it is healthy to have a real pullback vs. another “mysterious” bear trap to new highs. Curious anyone heard about powers be wanted to push USD higher? I think it can be a real catalyst if true.
Paul watch the bloomberg case against the Federal Reserve and the audit the Fed bill in Congress. The Federal Reserve can easily pull the rug out from under the stock market’s feet if it needs another emergency to scare Congress away from it. The government is not above pushing the markets down (lest we forget Obama and Geithner crashing the markets to new lows to pass the stimulus).