iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,904 Blog Posts

China Trade Deal Goes Sideways; Futures Slump

I should’ve listened to my inside voice and stayed in a larger cash position. Now I stand to get BOGGED the fuck out in an array of new longs, thanks to a China trade deal that was never going to happen in the first place.

Now for the headlines.

Chinese state television CCTV said it was suspending the current broadcast arrangements for the NBA’s pre-season games in China.

CCTV also said it will “immediately investigate all co-operation and exchanges involving the NBA.”

It comes after NBA Commissioner Adam Silver defended Houston Rockets General Manager Daryl Morey’s tweet in support of the Hong Kong anti-government protests.

China tones down expectations ahead of US trade war talks as Vice-Premier Liu He leads team to Washington

The 13th round of talks will take place this week, but a source says that the Chinese delegation is already planning to cut short its stay in Washington by one night

S&P Futures down 21 points; Bloomberg now reporting that the Trump administration is considering limiting China stocks in US government pension funds

Let me help you put that frown upside down. No one likes waking up to bad news and the specter of losing money. I bring you entertainment on an industrial scale now. I bring you Hillary vs Donald, Deathmatch — part 2. Loser goes to jail edition.

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5 comments

  1. mrcharlie

    Happy to hear you got that benzino back. I need to start thinking of sellin my heap and getting into a 3 year old lease with 30k miles on it. Need to be frugal with the vehicle. CORT has been working for me last few months, I wonder if it will keep its trajectory. Besides your doggo leavin landmines everywhere and you getting zero sleep it sounds like its all biscuits and gravy down below the mason dixon! haha

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  2. ferd

    You want something really hysterical …this is a NYTs chickenhawk solemnly lamenting Trump’s abandoning “elaborate systems” that have allowed us to “think ahead about costs” of our actions …as Trump again attempts to follow through on his promise to get us out of Syria:

    “Mr. Trump’s foreign policy “has largely abandoned the elaborate systems created since President Harry Truman’s day to think ahead about the potential costs and benefits of presidential decisions,” writes David Sanger, a national security correspondent for The Times.”

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  3. numbersgame

    This is why its perfectly acceptable to short a Dull Tape: the ever-present bullish bias gives you a better entry point for a longer-term strategic play.

    Anyone else add to shorts at 293 last week? Or short AMZN at 1744, less than 0.2% below yesterday’s high? Alty knows what I’m talking about.

    VIX already at 19 this morning, so the party’s just starting.

    Ayyone who stayed/wnet long based on Trump’s optimisitctrade-talk tweets deserves the losses.

    Bloomberg headlines:
    – White House Zeroes In on Limit to Chinese Stocks in Pension Fund October 8, 2019, 7:00 AM EDT
    – China Signals It Will Hit Back Over U.S. Tech Blacklist
    – U.S. Futures, Stocks Slide as Trade Tensions Flare: Markets Wrap
    – U.S. Blacklisting Threatens to Derail $1 Billion Chinese Tech IPOs

    I’m particularly interested in what lawmakers have to say about the blacklist considering this sequence of events in the last week
    1) NGA team Generla Manager tweets, “Fight for Freedom. Stand with Hong Kong,”
    2) NBA dismiss tweet in support of China as not speaking for them
    3) Politicians, inlcuding prominent Republicnas such as Sen Cruz tweet against the NBA, citing China’s ,human right’s recod (“”human rights shouldn’t be for sale “-Cruz, )” saying the NBA is putting money over human rights
    4) White House puts Chinese firms on blacklists, citing, human rights violations

    So now Sen Cruz, Sen, Scott, etc, will probbaly tweet in favor of this lsit and support their Republican President, right? They’ve supported him through a lot worse. Or do you suppose that they just might stay silent this time, because they **don’t** support human rights over money?

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