Yesterday night I read that the US employment data was ugly,,, and with the subprime issue getting more and more serious,,,, They are deadly combination,,, So I really worried that it could trigger further worldwide global sell-out,,,
This morning I saw DJ dropped more from my last nite's down 90 figure to the current down 280 ,,, and all European index were diving more than 1 percent,,,
Look like this time the American Financial Turmoil is really coming!!!
Although US's firms with international coverage are still doing okay,,, but their local market, under increasing unemployment and further housing bad news,,, would only get worse and worse,,,
China is probably a place still have good growth,,, but if both US and European are doing bad,,, its export to these places could be disastrous,,, then its boom could be over anytime... together with its current property and stock bubble,,, the situation can be VERY NASTY
Before my summer trip to Australia next weekend, I'll reduce position to keep >70% in cash,,,
Goodbye folks, I suspect the bear is coming in US,,, and the time for HSI to have a bear, or at least a BIG CORRECTION (15-20%) won't be long,,,
Next week will probably open near 22000,,, take profit and retreat!!!
So long,,, farewell,,, adieu