ETF Range Projections & A Quote to Start the Day

All the adversity I’ve had in my life, all my troubles and obstacles, have strengthened me… You may not realize it when it happens, but a kick in the teeth may be the best thing in the world for you.

- Walt Disney

For more detailed economic data click “Today’s Calendar” in the navigation bar to the left.

Shanghai recovers most of yesterday’s los while other overseas markets close out the week on a quiet note: Nikkei 225 -0.72%, Hang Seng -0.04%, Shanghai +1.07%, DAX +0.52%, and the FTSE -0.12%

At about 7:10AM ET ahead of today’s economic reports the futures look little changed: Dow +8, S&P +3, NAZ +3 Oil +$0.43 and Gold -$1.90

Trade Safe and

have a great day!

China Warning?

All the talk these days concerns China, the emerging market giant, and everyone knows the money is flowing in this direction.  In fact Chinese IPO’s have been very hot: Youku.com, which has never been profitable, was the biggest draw for investors, doubling on its first trade on the New York Stock Exchange and closing at $33.44, up 161% from its initial public offering price of $12.80. It sold 15.8 million American Depositary Shares at a price above its expected $9 to $11 range. (WSJ)

Reminiscent of the dot com bubble of the late 90s and 2000, No?  However the major Chinese stock indexes may be telling a slightly different story.

The Shanghai composite (Red Line above) bottomed in October of 2008 and diverged with the S&P as we approached the March of 2009 lows. and to a much lesser of an extent the Hang Seng also diverged.  Back then it was a lead time by Shanghai of approximately six months.  The Shanghai topped out in late July/early August.  Six months would be January, perhaps February of 2011.