Man things on the bourses are looking ugly!

Ok China is down. It has lost almost 20% from its high of 6000+.

SHANGHAI, China — Chinese stocks fell Monday, tracking losses elsewhere in the region, although the benchmark Shanghai Composite Index regained from earlier losses after falling nearly 5 percent.

The Shanghai Composite Index closed at 5,187.73, down 127.81, or 2.4 percent. Early in the day it fell to as low as 5,032.58 on heavy selling of blue chips.

The Shenzhen Composite Index fell 1.5 percent to 1,280.73.

The tumbles mirrored declines throughout Asia after Friday's slide on Wall Street amid mounting worries over mortgage problems.

But the market was also shaken by unconfirmed rumors that the China Securities Regulatory Commission recently ordered funds to hold off on aggressive buying.

Energy and resource companies led the fall. Aluminum Corporation of China Ltd., also known as Chalco, lost 8.8 percent to 34.34 yuan; China Petroleum & Chemical shed 5.1 percent to 22.18 yuan; and China Shenhua Energy Co. slipped 7.2 percent to 64.51 yuan.

http://www.chron.com/disp/story.mpl/ap/fn/5293824.html

HK loses 1115 points

BSE is below 19000

SENSEX 18,737.27 -170.33 -0.90
MIDCAP 7,945.16 -68.47 -0.85
SMLCAP 9,619.64 -137.24 -1.41
BSE-500 7,467.75 -70.89 -0.94

The BSE has taken on a new look for the New Year. Please visit http://www.bseindia.com" rel="nofollow">LINK

FTSE up, CAC and DAX down slightly. Nikkei lost 300+ points.

Brent Oil at $92+ and West Texas at $96 +. Gold down to $815 with silver slightly above $15.

Loonie below $1.05 again. Dodge must be breathing easier.

Now to the title " Academic Pandemic"
On Saturday, I was at a meeting on Bay Street where lotsa heavies from Bay and Wall Street had gathered to discuss the world economic situation. These people are considered to be the experts/mavens/pundits/gurus of both micro and macro economics (or as one CD contributor puts it - 'so called gurus and experts'- very well put) and they could not wrap their heads around the volatility in the markets. Every one put the blame squarely on Bernanke's 'pedanticly green' decisions. Lotsa fancy words were being bandied about meaning basically nothing.
So I coined the phrase by asking the question of one of the 'gurus' -

Q (by me).So you think it is Bernanke's pedantic view of things and his didactic decisions that are responsible for this academic pandemic?"
A (from the 'guru'). "Academic pandemic" - I like that . Can I quote you? Now what was the question?

That is the exchange- word for word. No BS. I had my recorder with me.

No, I was not there in the capacity of a 'guru'- I am not one nor am I recognised as one by any authority.
I was there in the capacity of a freelancer.

So if you hear 'academic pandemic' or read it anywhere- remember you read it first on CD!


BTW, they think that China and India are gonna lead the way thru to 2010 as they have bought lotsa forward contracts for materials and energy to build infrastructure. it seems India has jumped on the infrastructure bandwagon with some heavy contracts with Canada and Russia.

Remember again "so-called gurus and pundits"

"Popular opinion is the greatest lie in the world."
-Thomas Carlyle


Any thoughts on the above quote?

SHANGHAI (XFN-ASIA) - China stocks remained in positive territory after the government announced CPI growth for October of 6.5 pct, matching the record inflation level set in August, dealers said.

At 10:26 am, the benchmark Shanghai Composite Index was up 69.21 points or 1.33 pct at 5,256.94, off an intraday high of 5,311.70. They were up around 2.2 pct shortly after the market opened.

Most shares were rebounding from sharp declines, helping cushion the market from the negative impact of the CPI announcement.

The October CPI rise is the third month in a row that the indicator has topped six pct, despite policy tightening by the government, including five interest rate hikes this year.

The identical 6.5 pct rise August was the highest CPI growth since December 1996.

http://www.forbes.com/markets/feeds/afx/2007/11/12/afx4330915.html

BSE up 298 points to 19035

Indices Points Pt %

SENSEX 19,035.48 +298.21 +1.59
MIDCAP 8,113.72 +168.56 +2.12
SMLCAP 9,801.29 +181.65 +1.89
BSE-500 7,596.57 +128.82 +1.73

Ftse up, CAC and DAX down.
Dow futures up quite a bit. Oil down, gold, silver down.

HK up and Nikkei down.

Japan looks like its on its own trip.

Chinese stocks rebounded Wednesday, with the benchmark Shanghai Composite Index jumping 4.9 percent as it tracked gains in regional markets and on Wall Street.

The Shanghai Composite Index rose 254.57 points to 5,412.69, ending a four-day losing streak. It was the index's largest one-day percentage gain since it climbed 5.3 percent on Aug. 20.

The Shenzhen Composite Index on China's second, smaller market rose 3.8 percent to 1,319.45.

Strong gains in Hong Kong and Taiwan stocks fueled bargain-hunting, though traders said apprehension over a possible interest rate hike over the weekend will likely limit further gains.

"The stock markets were in need of a technical rebound anyway after having fallen sharply recently. The rally in Hong Kong tracking Wall Street's gains overnight gave mainland investors an excuse to buy," said Zhang Gang, an analyst at Central China Securities.

http://www.iht.com/articles/ap/2007/11/14/business/AS-FIN-MKT-China-Markets.php

HK like a yo-yo jumps up 1300 points!

BSE jumps up almost 900 points. to end below 20000

SENSEX 19,929.06 +893.58 +4.69
MIDCAP 8,285.63 +171.91 +2.12
SMLCAP 10,039.38 +238.09 +2.43
BSE-500 7,890.75 +294.18 +3.87


TSX up, DOW up.

Hk loses over 100 points.
China down
BSE down.
Europe down
TSX and Dow down.

But amidst all this Natural Gas has been creeping up to over $8.00 today from the $5 range it was in the summer.
The papers have not picked up on this as yet.

Remember you read it on CD first.

Hey GG- from the way I promote CD on several of my posts and how I put many fotos on the foto of the day to fill up the void at times and how immediately you follow with yours(now this is something I have to backtrack and check - but some CDs have pointed it out to me)- some CDs think I am your alter-ego. How about that?

Folks minds working overtime.

Me and GG the same- something straight from carl sagan's universe, perhaps!

Well many of you will know that the markets are making like a yo-yo hese days. One day up the other down...

Markets were down yesterday and have recovered today in Japan, HK and China. Europe is up. Dow and Nasdaq futures are up though down from their highs this morning.

More trouble for Citigroup. Subprime situation may extend thru till 2010.
More and more losses will be reported next quarter.

BSE down. So was Australia.

Oil up.

The benchmark Shanghai Composite Index fell 1.5 percent to 5,214.23 in light trading. The Shenzhen Composite Index on China's second, smaller market slid 1 percent to 1,313.82.

"In the absence of positive news, investors were left to wonder what kind of macroeconomic tightening is in store," said Shenyin & Wanguo Securities analyst Xu Yan.

Chinese Premier Wen Jiabao's comments warning against rising asset prices weighed on the market. Wen said during a visit to Singapore earlier this week that China needs to do more to prevent speculation in the property market.

Property leader China Vanke fell 1.5 percent to 32.82 yuan while Financial Street Holding was down 2.3 percent at 31.41 yuan.

http://www.iht.com/articles/ap/2007/11/21/business/AS-FIN-MKT-China-Markets.php

HK cracked 1153 points down to 26618.

Both HK and China are down 15-17% from their recent highs!

BSE down to approx 18650.

Europe down. Dow futures down

There is a well known American mutual fund co called Fidelity that claims the US economy will rebound next year.

From another source- In the meantine US rates are expected to go down and Canada will follow somewhat. Expect a rate cut in Dec from David Dodge.

HSI jumps up 1000+ points to 27626
However Shanghai slips 73 points to 4958
Nikkei up above 15000 level
BSE up 394 points!

SENSEX 19,247.54 +394.67 +2.09
MIDCAP 8,384.25 +155.75 +1.89
SMLCAP 10,343.25 +171.82 +1.69
BSE-500 7,761.89 +156.32 +2.06

Dow and Nasdaq futures up.
Europe up slightly.