Tuesday February 27, 2007 - 10:49:02 GMT
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Black Swan Capital - www.blackswantrading.com
Chian Stocks Tank - That's Risk!
â€˘ European retail sales dropped in February after a tax increase throttled demand in Germany, the Bloomberg purchasing managers index showed. (Bloomberg)
â€˘ Key Reports Due (WSJ):
7:45a.m. ICSC Chain Store Sales. Previous: -0.1%.
8:30a.m. Jan Durable Goods Orders. Expected: -3.0%. Previous: +2.9%.
8:55a.m. Redbook Retail Sales Index. Previous: -1.2%.
10:00a.m. Jan Existing Home Sales. Expected: +0.5%. Previous: -0.8%.
10:00a.m. Feb Richmond Fed Mfg Business Index.Previous: -11.
10:00a.m. Feb Conference Board Consumer Confidence. Expected: 108.0. Previous: 110.3.
5:00p.m. ABC/Wash Post Consumer Conf. Previous: +1.
â€śExisting theories about the behavior of stock prices are remarkably inadequate. They are of so little value to the practitioner that I am not even fully familiar with them. The fact that I could get by without them speaks for itself.â€ť
FX Trading â€“ China Stocks Tank â€“ Thatâ€™s Risk!
From Bloomberg this morning:
China's Stocks Have Biggest Tumble in 10 Years
Feb. 27 (Bloomberg) -- China's stocks tumbled the most in 10 years on concern the government will crack down on illegal investments that helped drive benchmarks to records.
``People are worried that more tightening measures may come out,'' said Mona Chung, who helps manage about $950 million at Daiwa Asset Management Ltd. in Hong Kong.
The Shanghai and Shenzhen 300 Index, which tracks yuan- denominated A shares listed on China's two exchanges, slid 250.18, or 9.2 percent, to 2457.49 at the close. The measure, which jumped 13 percent in the past six sessions, closed at a record 2707.68 yesterday.
This is part of that risk out of the blue stuff that can feed into global markets and force some changes elsewhere. As we talked about yesterday that elsewhere will likely be they yen and weâ€™ve seen it this morningâ€¦$-yen down 100 PIPsâ€¦
USDJPY 240-min chart:
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