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Thursday, September 25, 2008

China Approves Short Selling

In a strange twist of fate, word comes tonight that "China's cabinet agreed to let investors buy shares on credit and sell borrowed stock to help develop Asia's second-largest market after prices and trading volumes slumped, an official familiar with the plan said."

Here in the US, Zales was added to the "banned short-sale list".

Trader Mike called me and said he was fueling up his private jet and would pick me up so we could go to China and trade. When I asked him if we actually had to go to China, he told me not to worry about the details and just do as I am told.

True story.

China Approves Short Selling, Margin Lending to Develop Market



Michael said...

We couldn't make this stuff up if we wanted to. The jet will be there to pick you up at 9 AM :-)

Roger B. said...

I am pretty sure the Government is destroying our markets, and it should come to completion in the next week.

Kevin said...

In my 48 years, I have never seen anything like what is going on now. Especially the past 48-hours. This is absolute insanity.

BTW, Mike has a private jet? I need to start a blog! Trader Kevin has a good ring.

Anonymous said...