Bear Bear Craig wrote a post · Oct 8 18:21

Is Hongkong and China Market in trouble?! 🔥🚁

By now, im pretty sure the headlines has flooded your social media that $Hang Seng Index (800000.HK)$ $A50 Futures(DEC4) (A50main.HK)$ $Hang Seng TECH Index (800700.HK)$ took a big dip today.

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RSI has fallen through the top to below 70, which in my view, is a healthy sign of correcting and profit taking. Considering that $Hang Seng Index (800000.HK)$ $Hang Seng TECH Index (800700.HK)$ has risen close to 40% last week, the market is performing as what it should be doing.

Should Investors be worried?

My guess is that it will still be volatile this week and definitely present some opportunities that we can hop on to when RSI is near 30. Eg $Alibaba (BABA.US)$ $Futu Holdings Ltd (FUTU.US)$ would be some good add. $Direxion Daily FTSE China Bull 3X Shares ETF (YINN.US)$ am personally 👁️ for this to drop till below 30-35 range (pre market down 35%), would add in more at this range and HODL. $Direxion Daily FTSE China Bear 3X Shares ETF (YANG.US)$ would pop up nicely tonight and would be good protection against downfalls. Look at longer timeframe will help calm you down!

🔮 $NASDAQ 100 Index (.NDX.US)$ did play around 19700. First it has to clear 20,000 region before moving 20300 this week. Otherwise, the range would be between 19700-20000 $S&P 500 Index (.SPX.US)$ was flirting around 5700 region. I think there’s a good chance we will end around 5900-6000 region end of year. So any dips below 5600 i will start adding more.

$NVIDIA (NVDA.US)$ hit $130 briefly and I’m confident it will test that again. Similarly $Meta Platforms (META.US)$ did hit $600, will hit that again. Added some $Tesla (TSLA.US)$ at $241, with aim to TP at $258-260. Oh yes, consider $Apple (AAPL.US)$ $JPMorgan (JPM.US)$ $Wells Fargo & Co (WFC.US)$ too.

$Uranium Energy (UEC.US)$ below $5 can add some. $Exxon Mobil (XOM.US)$ $Occidental Petroleum (OXY.US)$ good play through end year.

Swim with the sharks!

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slagyearn : how about tigr

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RandomTrader_ : imo this is a good and healthy correction. The chinese madness had to stop somewhere, since it surged 20% in less than a week. Now retracing 10% is expected, and I predict another 5% drop tomorrow and it should be back to healthy levels once again. Watched through the CCP presentation today and it seems they dont even know the specifics of stimulus to be put into action.

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Bear Bear Craig OP RandomTrader_ : Same sentiments!

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104174101 : Yes. Healthy correction

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杨过20 : The showdown has just begun, a clash of will and energy, a trade war, a technology war, a public opinion war... continues, the financial war has just begun... Persistence is victory, only by surviving today can we have tomorrow.

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Bear Bear Craig OP 杨过20 : True

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Bear Bear Craig OP slagyearn : Hold

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Bear Bear Craig OP 152449293 : I’m not too sure about zena, enlighten us please

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Bear Bear Craig OP 杨过20 : Master

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CNNT : Did everyone just take advantage of the stimulus to sell off share to buy real estate? Since there is more faith in the property market than the stock market in China.

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Bear Bear Craig

Hi I’m @whyalwayschin. Investment Mantra: Swim with the big boys!

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