For the first time in “Name That Chart” history, albeit its brief one, no reader was able to correctly guess the mystery chart.
The answer is that the chart I presented was a monthly chart of China Mobile Limited, the massive Asian telecommunications firm headquartered in Hong Kong. Obviously, this one is just a tad different than NQ Mobile, which saw the sharp sell-off last week on the Muddy Waters’ fraud allegation. China Mobile, for example, has a market cap of $209 billion. So, let’s hope for humanity’s sake that CHL is not a fraud.
At any rate, China Mobile has been flatlining since its run-up and crash, like the rest of China and most emerging markets, last decade.
CHL is not having a particularly good month at all. But, overall, I see dead money. Whichever direction this multi-year base breaks next should be quite telling for all of the China “hard landing” theories.
Thank you to all who played.
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ROFL, you posted the answer while I was looking through charts and I figured it out based on a clue in the previous post where someone mentioned FXI and it looked sooooo similar, but not quite it. I was thrilled to finally figure it out only to have my balloon burst when I checked this post again.
Time is of the essence, Mr. Cats.
We’ll try again next week. Thanks for providing the amusement!
We will. Thanks for playing!