Down goes the Dow

Good luck to you with your China investment, I will stay short with the houses money.

http://www.wsj.com/articles/james-chanos-more-pain-to-come-in-china-1436464188

POTO,

I don't live in your World of reality. More information on my views for your enjoyment.

Igy

http://davidstockmanscontracorner.com/the-china-crash-is-not-over-five-viewpoints-on-the-turmoil-ahead/

Apparently you do share my reality. Or was that Chinese investment you were bragging about just a crock? Anyway, welcome to the dark side.

agip wrote:

if this *(ing rally *(*ing fades away to ^&^&ing nothing again I'll ^&^&ing &*&* ^&%%^

Chill man.

You are a financial advisor, no? As such it is your duty to stay cool as ice when others get emotional about this stuff.

You are also Master of the Thread and the best poster on LRC. With these come even greater responsibilities.

Cheers

Oh, and stop quoting David Stockman if you want people to take you seriously.

POTO,

Actually the article, or collection there of is on Stockman's website, but not his production. Stockman's site is a good reference source for views that are different that what you see is the mainstream media. Your choice of course.

Igy

POTO:

You said: "Or was that Chinese investment you were bragging about just a crock?"

My post from two days ago, pull it up if you like.

"I did that myself today, I had a short on and closed half the position"

Read more:

http://www.letsrun.com/forum/flat_read.php?thread=5369837&page=300#ixzz3fVzsGyaH

And the only reason I posted what I did was to show I put my money where my mouth is. I trust you will do the same.

Igy

I stand corrected. I just saw the name of the web site and ran as fast as could in the opposite direction. I'll check out the article.

You mean you put your money where MY mouth is. Remember, I'm the guy that pointed out the article mentioned the Chinese market was about to be artificially inflated.

Your welcome.

In that case thanks and have a good weekend.

Igy

Another good day for Chinese markets.

http://www.businessinsider.com/chinese-stocks-are-soaring-for-the-second-day-in-a-row-2015-7

LeT wrote:

agip wrote:

if this *(ing rally *(*ing fades away to ^&^&ing nothing again I'll ^&^&ing &*&* ^&%%^

Chill man.

You are a financial advisor, no? As such it is your duty to stay cool as ice when others get emotional about this stuff.

You are also Master of the Thread and the best poster on LRC. With these come even greater responsibilities.

Cheers

This is just a small glimpse at reality. The guy is on the edge of offing himself. Perfect reflection of the fact that despite his tough talk, he doesn't believe in the underlying foundation of what he's selling.

No way somebody with true confidence says some of the panic-stricken things he has occasionally said in this thread.

It's also obvious if you've paid attention to other aspects of the 'gip. Jumping from one idea to another. Claiming to follow a "system" (ex: the 200-day moving avg), but then when time comes to actually follow it, he'll frequently override the buy/sell recommendation based on what he personally feels/thinks. That's not a system. That's a lot of talk, without the action to back it up.

agip, like most of his ilk, is mostly facade. Financial "advisor" = salesman. Buyer beware.

My assessment, for what its worth, oh free so probably nothing, but backed by more experience in the markets than the writer, is "be careful." The Chinese economy is in decline, yes great future potential, but declining from a binge of debt and infrastructure spending. I would be vary wary of a market up at the high point over 100% in a year. One of the biggest mistakes one can make is thinking that you have an all clear signal.

Well, it is good to see you back in the conversation K5.

The Chinese are still a bunch of commies and I would have a hard time trusting them as a serious investment. Also, I think I'm on record on this site saying that China is ultimately going to go the way of pre-deflation Japan, and I still stand by that.

But Goldman is saying that the Chinese Government has the tools to contain the damage and they're saying the Shanghai Composite is going up 27% (chicken feed compared to what it went down, I know). Is Goldman a gang of crooks? Definitely. Are they usually right about things like this? Yup, and that's why I'm tempted to ride with them.

61.8% of the gain over the last year is something like 1000 points on the Shanghai. So is what we've seen so far a "minor retracement"?

Tempted to take a shot at the long side with ASHR with a small amount of money.

Agip, have you ever done an options strangle?

Sell an OEX call spread above the top end of the trading channel.

AND

Sell an OEX put spread below the bottom end of the trading channel.

As long as the market goes nowhere, you pocket the premium. Ultimately, you will be wrong and you ride the breakout. I have not been doing this, but I think I'm going to start if we don't get a meaningful rally with some folllow through.

Ghost of Igloi wrote:

For you information I purchased YANG at 52.127 on 4/24 and sold half my position on 7/08 at 104.64. So you are again wrong.

YANG: high for April 24 2015 was 5.17, 51.71 adjusted for 1:10 stock split on May 20. Also, it's YINN not YING for the 3x bull ETF.

So he's full of shit. I'm not surprised.

coach d wrote:

Agip, have you ever done an options strangle?

Sell an OEX call spread above the top end of the trading channel.

AND

Sell an OEX put spread below the bottom end of the trading channel.

As long as the market goes nowhere, you pocket the premium. Ultimately, you will be wrong and you ride the breakout. I have not been doing this, but I think I'm going to start if we don't get a meaningful rally with some folllow through.

honestly, I am not smart enough to handle options - I have an MBA, CFP, series 7 and 55 and for the life of me I can't deal with options. THey spin right over my head in some other worldly way.

I'm sure I could figure them out but it would cost me money and stress...