Shanghai closed at 2,075.91 +179.25!
How easy was that?
How much hubris did the bears have?
When the new short selling rules were announced, the bears completely ignored them. When China said that they would support their markets at 2,000 the bears ignored them. When China announced a cut in rates, the bears ignored them. When China announced a stimulus plan, the bears ignored it. At least we didn't ignore it here!
Put them out to pasture, and let China, talk up a stimulus plan, and a plan for their stock market. The Shanghai composite is at 2078. China officials have already talked up 2,000 as the floor. Let the shorts see who is real and who is bluffing. Because we already know that answer!
The bears thought they were real. That they were bigger than the governments of the world. Now we'll have a 9% move in two days here in the states from the lows yesterday afternoon, to the opening today!
Did these hedge funds think they could hide on London? With their snarky plans made at the Riverside restaurant on the Thames? They had such hubris, they almost wanted people to overhear their plans. They thought they were the "Masters of the Universe!"
Why do you think they scrambled when the FSA said shorting wouldn't be allowed across the pond?
The game was up!
We have a government and a financial system that depends on confidence. For gosh sake's, our paper is backed up by paper! Now Treasury is guaranteeing the 2-A7 $4 trillion money market funds for a year for a fee. These institutions yanked $182 billion yesterday, in the run on the bank.
The run is over on stocks and on money markets!.
The bear raiding game is up!
Let the games begin. And run over those with the hubris who thought "they" could break the system.
Who is "they" anyway?
"They" are "those" that bought CDS swaps on GE finance yesterday!
The markets will now rip off their heads, like a farmer yanks off a chicken.
And they'll run around the same way!