DrStool Posted November 5, 2007 Report Share Posted November 5, 2007 Market makers needed more short inventory so they engineered a big bear shakeout in the last hour. Cute. Link to comment Share on other sites More sharing options...
potatohead Posted November 5, 2007 Report Share Posted November 5, 2007 3:05 (Dow Jones) Word on the street is PetroChina (PTR) is the biggest company in the world today, sporting a market cap of more than $1 trillion, with a T, after its debut on the Shanghai market. "My immediate reaction to this news," writes Roger Nussbaum, an investment advisor at Your Source Financial, "was to think of Cisco when it was the largest company in the world with a $500 billion cap for about ten minutes in 2000." (PJV) (http://randomroger.blogspot.com/) Link to comment Share on other sites More sharing options...
EZ_Money Posted November 5, 2007 Report Share Posted November 5, 2007 My 20 CHINA stock screen was seriously RED, except for 2. Quite a few were -6, -7, -8, -9% and larger declines. Scary. Anyone else notice? FXI down big. Link to comment Share on other sites More sharing options...
EZ_Money Posted November 5, 2007 Report Share Posted November 5, 2007 PTR leading the group... -12.93% What's going on, anyone have an idea? Link to comment Share on other sites More sharing options...
Sudaca Posted November 5, 2007 Report Share Posted November 5, 2007 My 20 CHINA stock screen was seriously RED, except for 2. Quite a few were -6, -7, -8, -9% and larger declines. Scary. Anyone else notice? FXI down big. 621019[/snapback] Just an air pocket, folks. Link to comment Share on other sites More sharing options...
Sudaca Posted November 5, 2007 Report Share Posted November 5, 2007 PTR leading the group... -12.93% What's going on, anyone have an idea? 621020[/snapback] FXI holds Chinese H-shares, the ones that trade in Hong Kong. The ones that had a 100% run in two months trying to front-run the moment when China would let the nutcases out of the asylum and let them buy chinese shares outside of the domestic A-share market, which hold a 300 gazillion percent valuation premium for the same companies. But now, Chinese authorites froze that plan, giving the front-runners the Shaft Of The People. Link to comment Share on other sites More sharing options...
Bungster Posted November 5, 2007 Report Share Posted November 5, 2007 PTR leading the group... -12.93% What's going on, anyone have an idea? 621020[/snapback] No idea.......... Link to comment Share on other sites More sharing options...
Sudaca Posted November 5, 2007 Report Share Posted November 5, 2007 Of course, chinese authorities have now contemplated the fact that if they DID let them do it, it would probably mean an A-share ShankHigh Chinese Crash. And that would be most unacceptable. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted November 5, 2007 Report Share Posted November 5, 2007 PTR leading the group... -12.93% What's going on, anyone have an idea? 621020[/snapback] The IPO was priced at 225 dollars (convert yuan to dollar). Why folks would bid it up to 260 is beyond me. Someone asked me 2 weeks back why i even bothering messing around with the put options on this guy (PTR). Well, you'll find the answers shortly. $$KACHINGO!!!$$ Link to comment Share on other sites More sharing options...
I_Am_Madness Posted November 5, 2007 Report Share Posted November 5, 2007 My Nov 690 puts was everywhere today. Hitting a low of 4.2 and high of 7.40 by 2:30pm. Still holding...... Link to comment Share on other sites More sharing options...
Sudaca Posted November 5, 2007 Report Share Posted November 5, 2007 The entire rationale behiund the Hang Seng rally was the valuation arbitrage between H and A shares. H shares, at a P/E of 35 were relatively cheap to A shares, that had a P/E of 80. Great trade. Right. Now there IS no relative trade possible, so you now you're stuck with a long position in H shares at a P/E of 35, which is relatively cheap to.... well... lessee... eerrr.. Link to comment Share on other sites More sharing options...
Drano Posted November 5, 2007 Report Share Posted November 5, 2007 Looking at that chart, Madness, the ol' greed starts cutting in and I start wondering if I should wait to cover at that gap..... 170ish..... or lower.... Link to comment Share on other sites More sharing options...
I_Am_Madness Posted November 5, 2007 Report Share Posted November 5, 2007 PTR leading the group... -12.93% What's going on, anyone have an idea? 621020[/snapback] The IPO was priced at 225 dollars (convert yuan to dollar). Why folks would bid it up to 260 is beyond me. Someone asked me 2 weeks back why i even bothering messing around with the put options on this guy (PTR). Well, you'll find the answers shortly. $$KACHINGO!!!$$ 621025[/snapback] Anyone want to take a guess on which day Buffet exited his entire PTR position? Link to comment Share on other sites More sharing options...
Speakeasy Posted November 5, 2007 Report Share Posted November 5, 2007 PTR leading the group... -12.93% What's going on, anyone have an idea? 621020[/snapback] Cold feet at the people's Central Committee. China pricks bubble in Hong Kong market Bloomberg News, Reuters, The Associated Press Published: November 5, 2007 HONG KONG: Hong Kong's blue chip stocks plunged Monday after China's prime minister raised uncertainties about a proposal to allow mainland citizens to invest directly in the city's listed securities. Tribune Link to comment Share on other sites More sharing options...
I_Am_Madness Posted November 5, 2007 Report Share Posted November 5, 2007 Looking at that chart, Madness, the ol' greed starts cutting in and I start wondering if I should wait to cover at that gap..... 170ish..... or lower.... 621029[/snapback] If we get a gap down to 200 tomorrow, my guess is my December 200 puts will be up 300 - 400% from my entry price. We shouldn't get greedy. Right? Link to comment Share on other sites More sharing options...
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