Stocks dropped 3.6% last Monday in China, with country's investors fearing a correction. Many analysts have been predicting a tumble in China's exchanges for months now. We all remember Alan Greenspan "irrational exuberance" warning back in 1996, but the tumble only came in 2000.
Those with fear missed one of the biggest booms in stocks we have ever seen. By now Chinese securities regulators have twice issue warnings to domestic investors. Nearly 50,000 new accounts are open daily in China bringing new money into the stock market. In the US Bonds & Notes are adding confirmation for a continuation of the decline and consequent rise in interest rates, making the dollar firmer against the euro and gold.
This week we are seeing moving up in the rankings traders that are fully invested in stocks or CFDs like Manuel Leguinha, or Jorge Manuel Gerivaz. Time will tell if thr risk exposure is the correct one. Leading this week is again Alexander Nikolov from Bulgaria.