It looks like the “Chinese lotto fun” has been postponed, indefinitely.
Aside from the spastic dice rolls, quality names are getting lit up, like a synagogue in Baghdad.
Chinese stocks receiving the “homo-hammer” of death, include: CHCG, CHINA, JASO, FMCN, CN, SOLF, STP, CHL, CHU, CTRP, CSR, CHME, KUN, BIDU, SOHU, EFUT, EJ, GA, CTDC, FFHL, YTEC, ACH, AOB, PWRD, GLDN and LFT.
The whole lot of them.
If you didn’t know, you can profit from Chinese misery, via FXP (double inverse China short).
However, before doing that, the question you have to ask yourself is: “Am I feeling lucky, punk?”
My best guess, China misery will be short lived, especially if we rally today.
NOTE: If I wasn’t busy eating sandwiches, I might take a shot at FMCN, CN and LFT (again!), down at these levels.
UPDATE: Market tanking. Get back in the nuclear bomb shelter.Comments »