I like reading finance yahoo headline today:
Dow Jones Surges Past 14,000 to Close at Record High As Credit Worries Begin to Subside
The Dow rose 191.92, or 1.38 percent, to 14,087.55, surpassing its closing record of 14,000.41 set in mid-July. The blue chip index rose as high as 14,115.51 to eclipse its previous intraday high of 14,021.95 set July 17.
The following chart says it all: strong rally throughout the whole trading day. A trend that investors, like me, like to see. No sign of weakness, some profit taking at the end of the day but that's about it.
Looking at the China ADR universe, the picture is just a bright. All my favorite stocks were on fire, only Baidu.com did disappoint. We just posted our opinion on Baidu's high valuation last week. Click here.
Given a strong Wall Street combined with fundamentally outstanding China growth story, I see no reason why Hang Seng should not hit another peak tomorrow. If that happens and the Street still carries over some momentum from today, China stocks will rock and roll big time tomorrow.
Mark my words: October 2 will be a HUGE day for China ADRs. Just wait and see.
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Page rendered at 11/19/2008 6:04:57 PM (Eastern Standard Time, UTC-05:00)
Disclaimer The opinions expressed herein are my own personal opinions and do not represent my employer's view in anyway.