Despite copper at 11-week lows amid China demand concerns, the daily chart of the Shanghai Composite is pretty clearly breaking out above multi-month resistance. Although the copper theme may indeed be valid, the amount of liquidity sloshing around throughout the capital markets could easily cause the well-to-do China bears (James Chanos, Hugh Hendry, etc.) to be squeezed into oblivion, as money rotates out of commodities and into the Chinese mainland markets.
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Market last few weeks feels like looking up an old Tigran Petrosian chess game. Walled defense and a lack of ability to make any move or breakout.
Nice analogy
They must be drinking Tiger Blood in China these days.
#winning while going H.A.M.
LoL
國際象棋有沒有權利對中國市場
他拥有这个市场
Great blog.. I only just started reading it..
china may be up in the past few days (though it was down nicely today) but the bears you listed didnt short shangahai stocks (as that is pretty much impossible in china) instead they are short Hong Kong, or in Chanos’ case, everything commodity related, like Vale…
Also check out the chart of shanghai properties index… still pretty ugly
Europe getting crushed still…what else is new
Thanks, appreciate it