monday monday, page-136

Pattyp,

not sure the cash pre open was weird, large sweeps down with 100 lots on the seng, H-shares wasn't as weak but dragged down by the seng (i trade the H). Its always the money supply and the new loans which come out better than expected, which cause the rallies (as seen on friday) not any other figure. The weird thing about friday was the cash close came of so hard. I don't see how anything has fundementaly changed from friday to monday. Yes dubai has been given 10mil, but HSBC exposure and whether they will get payed is still unkown, so the seller just stepped in again and smashed it down.

S&P didnt even come off that hard (well it did initally) but rallied hard back up, on the day the dubai exposure was announced. If they didn't come off on the news what logic is there for a buyer fundementally stepping in on this news. It would seem none.

I can't really speak for s&p i primarily trade h-shares but the price action didn't feel strong