Another Technical Reprieve: Who Is Selling?
@HONGHAO:
“The History of markets is one of overreaction in both directions.” – Peter BernsteinKey Points:- Record short volume and put buying will be fuel to violent technical reprieve.- With the first Fed hike in sight, the HKMA’s less aggressive balance sheet trimming can help improve market visibility.- Hong Kong is mired in deep allocation value. If without a US recession, the Hang Seng will recover swiftly; if not, then the Hang Seng can still have a technical reprieve before making a second low.- Trade safe and good luck.China released mysteriously strong economic activities data yesterday. But the US-listed Chinese stocks plunged another 10% on the previous night, bringing the total loss to close to 30% in three short days. Such capitulation in the US market rippled through to