November 26, 2008
Market Manipulation
Gome Halts Shares Pending Statement on Chairman’s Detention
“Huang may have manipulated shares of Shandong Jintai Group Co., a Chinese drugmaker that is controlled by his brother, Huang Junqin, Beijing-based Caijing reported.”
A weird looking chart anyway. Locked limit-up every day for weeks?
Cat: | Time: 10:49 am (utc+8)
November 26th, 2008 at 9:42 pm
Still a good example of how all bubbles return to the point of origin. The S&P 500 began it’s meteoric rise in 1994 from the 450 level. I believe this bear market will take us back to that level eventually.
November 26th, 2008 at 10:01 pm
so outstanding - like the American market 1910’s in china- might have to move there for the roaring 20’s and split in 28′
November 26th, 2008 at 10:06 pm
Fuzzy would have scramed onto that uptrend in no time….
November 26th, 2008 at 11:12 pm
Classic Manipulation. Saw this pattern during the bull run in my local stock market. :P
November 26th, 2008 at 11:48 pm
@Hudson: Fuzzy likes waves and isn’t comfortable with things that go straight up and down, but yes, it wouldn’t have ridden it back down to 2.
November 27th, 2008 at 6:07 am
I can see what fuzzy likes in the rising waves in SDS. Todays close is a good stop point area IMO :-)
http://finviz.com/quote.ashx?t=sds
November 27th, 2008 at 9:54 am
@Hudson: These leveraged ETFs are giving Fuzzy a headache because the moves are so crazy, the volatility is so great, that working off the weekly chart is suicidal (25%+ week to week whipsaws). See this SKF position… still not sure how I’ll handle the leveraged ETFs within the “core.”
November 28th, 2008 at 12:00 am
SMN, SKF, SDS, all three show the same high beta wave positions. I am counting on a high vix snap back. 25% would be greatly appreciated, but with stops because I don’t want to be part of the “mother of all short cover rallys”!
November 30th, 2008 at 4:00 am
Sure that isn’t a chart of crude ;)