Dust off that Cash
Time to dust off the cash on the side lines, and get ready to buy some stocks.
We should all be thanking the Chinese market for the sell off. The Chinese market was overextended, and was in desprate need of a correction. Thanks to the way the global economy is structured, a domino effect is happening w/in the global markets. (Albeit, I didn’t see any major ‘tell’ within the markets for this correction at this time. The only major abnormality that I saw yesterday was the huge decline in the Transports. It made me want to short the market, but everything else seemed orderly. However, I was planning on shorting the market by the end of the week due to the economic date to be released next week… OH WELL)
Do not confuse the market with the underlining economy. The global economies are still relatively strong, but the Chinese stock market was overextended.
You want to benefit, look at these names…
1. PTR
2. GS
3. NYX
4. GOOG
Strong names getting hit in the pre-market. Why NYX is getting hit is beyond me, as they have little chinese exposure other than the chinese ADRs currently on their exchange.
