stlplace

Not a Pretty Day

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Last Updated on February 27, 2007 by stlplace

I mean the stock market. Dow lost more than 400 points. My brokage account lost about 10% of its value today. The biggest decliners are Home Inns (HMIN) and Mindray (MR); but Crocs (CROX) and Heelys (HLYS) are not helping either 🙁

Now the question is: is this a healthy correction? Or the beginning of (dare I say) bear market? I don’t have the answer. Personally I feel the market needs some sort of correction, especially in China, where the reality did not support the hefty stock prices. But do I think US consumers and business suddenly hit the break on everything? Probablly not. Same thing can be said else where.

Comments

4 responses to “Not a Pretty Day”

  1. Oceanid Avatar
    Oceanid

    I met my friend today – an AVP @ Morgan Stanley. And we both agreed it would be a temporary thing. He actually bought quite a few shares today because the prices were so low.

    Reply
  2. stlplace Avatar
    stlplace

    I agreed. But it seems the market will be sideways for a while, at least for Chinese ADRs. So I will be cautious optimistic.

    Another thing I heard from Cramer (Mad Money) is they got some machine problem at the exchange, very strange. I know one stock (Mindray) was sold at $16 at one point, which I would love to buy.

    Reply
  3. ss Avatar
    ss

    chinese market needs ajusting! but do not expect too much in China stock market. –from china real time report.

    Reply
  4. stlplace Avatar
    stlplace

    I agree with you regarding the Chinese domestic stock markets: too much excitement, and optimism, without a good fundamental support.

    That being said, there are some bright spots, and I think there may be some oppertunities in B Shares.

    Patience, more patience…

    Reply

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