China Wen JiaBao wants to give the market a Big Red Packet asking for confidence measures.
True, if the market price falls further, then the Banks may need to have margin calls on the Chinese companies which are heavily indebt. Some Chinese insitutions have went to buy up Blue Chips. A lot of European banks have interest in a lot of China companies, and they need to sell at a higher price to deleverage. I.e. again Chinese investors would be the ones to buy into their high.
It is like the Chinese companies back into 2008, when the curfew on selling was lifted, and the owners just dump their stocks. So we should see the next wave of selling coming amidst the bounce.
It would be like China Hu JingTao giving Sakorzy and his Bank minions big fat red packets.
Timmy is now in China asking for a lot.
Obama announced his new military strategy with the spear into China's throat, and then setup a taskforce investigating China trade malpractices.
Infact one Nasdaq China companies, Cleantech is suing Nasdaq for discrimination.
And Timmy is asking for gifts from China, sanction Iran, Yuan appreciation, etc.
Like a BAD GUY, GOOD GUY think to sucker China.
OF view SPX would be heading towards 1320. Gold to head towards 1700 at least before a pullback.
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