Fuck the Olympics.
The expansion of the world’s fourth-biggest economy slowed for the fourth straight quarter in the three months through June on weaker U.S. demand. China raised tax rebates for shipments of textiles and garments today and the commerce ministry is pressing for slower yuan gains to protect exporters after the currency’s 6.8 percent advance against the dollar this year.
“Companies are less willing to invest as export growth slumps, credit gets tighter and the economic outlook worsens.”
In other news, Australian insurance giant, Suncorp, is having its head “cannon balled,” thanks to the glorious banking system.
Suncorp-Metway tumbled 14 percent, or A$1.93, to A$11.45 as of 1:35 p.m. in Sydney on the Australian exchange, set for the biggest one-day drop since June 1989.
Challenging Conditions
“Our result for the 2008 financial year has been affected by external factors, including the global credit crunch, volatile equity markets and a succession of severe weather events,” Chief Executive Officer John Mulcahy said in today’s statement.
UPDATE: The Godly folks from iBC are thinking about retaining the quote services of Alpha. Go punch in a quote and check it out. Good or no? Thanks.
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i should have known something was up when the FXP opened up, meandered around, and shot straight up at the close.
probably going to open at 80 tomorrow.
What you mean, Fry, “fuck dee Orympics?”
You jus’ sowah glapes, Fry, because you such big man’s gymnastic fan, and you know we gonna kick you Yankee ahhs this year, showaling Grolius Led China wif moah groly than evah befoah!
Har Har Har har!
_
I was recently listening to an old (March 2007) Wharton school podcast on China’s economy.
Prof. Marshall Meyer revealed an interesting fact. China’s government replaced production targets with GDP targets for the provincial governors. The quick way to boost GDP is infrastructure investment. Quote from Meyer: “Over 50% of China’s GDP last year was fixed-asset investment – basically pouring concrete.”
NOTE: China Grory onry visibre 10-15 feet ahead of face, due to choking porrution. So solly.
Luff, luff luff luff
allllllllllgggggggggggggg luf!
for a while, i’ve maintained that the chinese infrastructure growth is a pile of BS. not BS as in, ‘they didn’t build it’, but BS as in, ‘they have a bunch of unused infrastructure everywhere’.
whenever the asia analysts at my old firm would travel, they’d come back and show us all these great pictures of amazing opulent things like train stations in rural china, bus stations, etc. they looked remarkable and untouched, because they were.
here’s a nice chinese project:
http://img529.imageshack.us/img529/8402/shenyangml2.jpg
Yaaaaaawn!
I tie-ahd!
__
Doze some nice shlubbellies, Alis!
Tasty rooking, even!
You got bamboo, too, preeze?
________
looks like the germans caught something, too
http://www.bloomberg.com/apps/news?pid=20601087&sid=aZSa9MwTmE6U&refer=home
So solly! China mainrand serr-off cancerred, due to grorious reader comments! Thank you, grorious reader Hu! Centrarry-pranned stock market best! USA should try sometime!
Quotes rook gourd Fry…I rike dem…rike robster.
“The Fly” is doing yoga – it is both trendy and it relieves the stress of this market.
fly,
what was the deal with MVIS yester day? Kind of strange.
Mexican;
Sorry for my abrupt statement. BPOE stands for biggest pig on earth. I started trading stocks because I can’t work for someone. As you can see I am not the most congenial person. A salesman I am not!! Don’t take me wrong I have much respect for your posts. I am a position trader most of the time. I use Fundamental,Quant and Technical analysis. 10K’s,10Q’s,peg ratios and price to sales are great. I find neuroeconomics helps keep me in line when trading. To me Diversification and knowing how to run your money is about the only edge you have on the market. Trading is an ART not an exact science and the FLY is one of the best!!!! [Thanks for the reply]
Hah, Rick Santelli was great after that jobs #.
billybull – MVIS is gay
FLY
Suncorp Metway is a small banking firm in Oz.They are hardly a good example. NAB and ANZ are the ones to watch as they have taken some big hits due to the crunch.
Also China is slowing, but we should expect that seeing the authorities there have raised rates and raised reserves numerous times to slow things down.
You’re an American which by definition means nothing exists beyond Long Island and Catalina. So please don’t go all international on me as it’s really starting to fucking scare the shit of us. Stick to the US.
GFI tanking sold mah puts for a double
Love the new Alphatrade quotes, very nice. Good move for IBC.
Does the CLNE move today have legs?
Juice, Wood, weigh in on CLNE if you could.
Is the gap up on the hourly a continuation or exhaustion gap?
Like the Alpha Quotes,links are good too.
If I was a daytrading fool (and I am) I would be long KRE (regional bank etf) on dips. In and out Spitzer like.
Chart I was looking at updated, NO GAP! Sorry.