daytrading june 25 morning, page-70

for those scratching their heads as to why the substantial sell off this morning, a lot of it is linked with an article in the weekends WSJ talking about China fudging economic reports, basically the report was based around massive coal/iron ore stockpiles in regional areas of China, one of the only ways Western Economists can estimate Chinese GDP figures is by things like commodity stockpiles and energy consumption, and there are strong suspicisions around the massive thermal coal stockpiles things are not that rosy in China at the moment.

one only has to look at the minor falls in the banks and utilities to realise this is not a broad based sell off, more a resource driven one.

secondly this being the final week of the financial year, there will be the obvious tax loss selling.