Nothing to point out in the market besides full steam ahead. Only thing to point out is the fact that high yield debt has widened the last two days. Other than that, the market shakes off anything and everything and powers higher.
U.S. markets aren't the only ones. From MSNBC
The middle-aged crowd in the packed Guosen Securities office jostle around buzzing printers that spit out receipts for their share buys, hoping to cash in on China's stimulus-fueled stock market boom.
"The central government has to fulfill their promise of 8 percent economic growth," said Wu Jun, 62, a retired civil servant who invested part of his life savings of 50,000 yuan ($7,300) and lives on a 2,000 yuan-a-month ($290 a month) pension. "They'll come up with measures to keep the market in good shape."
Sheez, the markets world wide have become grand casinoes. Do investors forget that quickly? I read somewhere that the volume on the Chinese stock exchanges is now exceeding the volume on the NYSE. China's stock market is still a fraction of the size of the U.S. market!!
The Finance Ministry says it found some companies played the market with money borrowed for stimulus projects. It gave no details but Chinese companies frequently are accused of violating China's already lax financial controls by diverting money from borrowing or their core business into stocks in hopes of making a quick profit when the market is rising.
Thousands of investors have jumped into the market. The number of new trading accounts soared to a weekly record of 108,932 last week, according to the Securities Depository and Clearing Corp., an arm of China's two stock exchanges.
no one learns...."more cautious", greed all over the statement below. And the market will be ruled by fear and greed. Should be a verse in the Bible somewhere.
Wang Zhijun, a 58-year-old retiree, calls himself a market veteran and says he lost more than 10,000 yuan ($1,400) in the last stock plunge. He said he is more cautious this time but exuded optimism about the market benchmark's continued rise.
"Maybe next year it can go as high as 8,000 points," or more than double the current level, Wang said as he joined the throng in Guosen Securities. A friend standing nearby said that was unlikely, and Wang shot back, "5,000 at least."