Late Breaking News! This is getting monotonous, but I have just downloaded tonight’s file, and I have another Hindenburg Omen to report. This makes three this week…one on Monday, one yesterday on Wednesday and one today. Maybe my Stress Reduction Exercise today is very timely!
My good friend, associate and partner, Ron Brown, sent me the snapshot below of how the top 19 Chinese Stocks faired in today’s market, and as a result he gave me the perfect theme for today’s Blog. You can see from the list that they did not fair too well today, but one-day does not make a trend.
Sometimes we can’t see the forest for the trees, what with concerns of Earnings Reports and the FOMC Meeting on the 31st. October and Trick or Treat time on the same day. Looming in the background is the concern of the impact of Global Markets, and I need hardly remind you that the Hang Seng Index is doing a dance “to da moon!”
However, I felt a few Stress Reduction Exercises may be in order to keep you in shape for things to come, especially since this Index is outstripping the Nasdaq in its hey-day back in early 2000. I know we have had a couple of shots across the bow in the last few days what with the two Hindenburg Omen signals that have been clocked up on Monday and again yesterday. Although you all know that I am neither a fear-monger nor a glass-half-empty type, it strikes me that the real worry may not be here but there…meaning Global Markets ala Hang Seng. Keep your Powder Dry, play close to the exits and have tight stops is the name of the game right now. Best Regards, Ian.�