Wednesday, May 30, 2007

Chinese Stocks worrying market's

After yesterday's announcement on new Taxes for Chinese stock participation, the markets overseas sold off in a big way. The Shanghai SE Composite index fell 6.5% last night and Emerging Market currencies in general sold off hard. Alot of "doom and Gloom" dealers I know of are saying this is the end. Being the Yield monkey that I am, I am not sure this is the case......BUT.... I am willing to cut back on risk and see hoe things play out. Next week we have the Brazil rate cut announcement and if the market does not get 50bp there will be a MAJOR sell off.

Good Luck and Good Forex trading.



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