Weibo stock rises while other Chinese stocks sink As word of crackdowns (from both China’s central planners and the US) on large Chinese companies intensifies and FXI drops… …one stock is going the other way. WB is +13% after being +40% at one point in pre-market. First there was news that it is being taken private, but then quickly followed a denial by the company. … Continue reading Weibo bucks China wipe out on rumor
From yesterday’s trade log: “I am going to choose to imagine a large Cup & Handle on the FXI weekly chart and buy it.” Before getting to the technicals, I want to note that the idea of casting our view globally is also supported by the developing taxation situation in the US, with Yellen most recently jawboning corporate tax increases. Also, we noted in NFTRH … Continue reading NFTRH+; Technical Reason This Global Position Was Added
First, the VIX, which has gotten clobbered on whatever is making the markets feel good today. I added some VIXY back yesterday as a vol. hedge, but obviously did so too soon. Show biz. I am holding it pending the VIX filling its SMA 50 after a gap fill. SPX is showing something today. Per #627 we had anticipated a bounce to at least the … Continue reading NFTRH+; Updating Some Key Markets
One week it is Trump tweeting, another it is India reflating, another it is the Fed talking about permissiveness on inflation, another it’s China stimulating… and so on. This time it’s that last thing, and it is serving to drive the China A-Shares and Large Caps up through the resistance we noted in NFTRH 582 a couple weeks ago, along with upside targets. Weekly charts… … Continue reading There Goes China…
We had NFTRH+ updates on both CHL and TCEHY in January (now publicly accessible). NFTRH+; 1 Short-term Breakout, 1 Potential Long-term Breakout (a highlight of both CHL & FB on Jan. 15) NFTRH+; A Chinese Stock Activating a Bottoming Pattern [w/ edit] (a highlight of TCEHY on Jan. 18) Then I decided to highlight them publicly as well after the Macro Tourist (who I really … Continue reading Two NFTRH+ China Stock Ideas Still on Plan
A few interesting pictures ‘vs. SPY’… Gold miners have risen vs. SPY since early September. Treasury bonds, hated by absolutely everybody (except maybe readers of this website) in September have absolutely blasted off in relation to SPY with Mr. Powell’s deftly engineered risk ‘off’ operation. Chinese Large Caps have maintained the intermediate uptrend vs. SPY. Even the World is starting to bounce vs. the former … Continue reading vs. SPY
We wondered in a post this morning whether USD or some anti-USD markets were off base as all items were firm. Answer: Uncle Buck had stepped off sides and afoul of the Powell rate jawbone. While not a bull by any means beyond the bounce situation, I am long the 3 items in the lower panels. I was already long ACXW and AAXJ, and added … Continue reading Who Was Lying?
A very simple update. As I was planning to cover some US market shorts (cover SPY and sell the SPXS bear fund) I also looked to increase exposure elsewhere. I jumped the gun a little on this one, shorting 3x bull fund YINN yesterday. But today FXI is inching below the neckline of a short-term pattern that would project to the SMA 200 if the … Continue reading NFTRH+; China Short Setup
Also from yesterday’s pre-market update (incl. 1st chart below)… We noted 42 to 43 as the initial support per Tuesday’s NFTRH+ update on FXI. “FXI is getting to a point however, where it can bounce (1st support). It is also getting to a point where those who are bulls on China for long-term investment might take initial positions or add an increment to existing ones. … Continue reading ‘China 25’ Bounce
Let’s preface by noting that like Europe, a trade or investment in China should be backed by one’s own research and opinion as NFTRH+ updates do not tend to include my opinions about the stock or asset class in question. They are simply technical setups on areas that appear to be of interest at a given time.
While featuring good calls that I have failed to personally take advantage of (can’t buy everything and my focus has been on Biotech and Specialty Pharma for available risk funds), here is another one. Using the associated index FXT, we have been chronicling the China 25’s attempted and actualized breakout for months now. Also, last week NFTRH 337 included a chart of FXT vs. SPX … Continue reading FXI Launch Not Taking NFTRH Subscribers by Surprise
A snapshot of the current technical status of several key markets (a lot of charts today because macro changes seem to be in effect)…
GLD broke down from the Sym-Tri (strike 1), lost the June low (strike 2) and now would try to find support at the December low, equiv. to gold 1180. Over sold, prone to bounce but technically bearish below 120 and 123.
Gold stocks are down again today and it is now decision time (for the sector if not individuals). That is because the parameter is to not make and hold a new low to the May low on a closing basis. We noted that a bounce is possible and if it is going to happen it should happen around here, at the May low with a similar over sold RSI. Either that or it would be broken with a lower low (that does not reverse quickly).
A snapshot of current technicals for key markets…
GLD became very bearish with the breakdown from 124. A rise above 123 is needed to even begin to repair this chart.