Asian stocks tanked late in today's session leaving Shanghai down 23% from its high (on August 4!). A bear market is usually defined as any correction larger than 20%.
Those who love volatility must be loving the Cinese markets. Since the November lows, Shanghai moved up more than 100%. Now it has dropped 20%.
I personally will wait for this to settle down before looking to get in to Chinese stocks. I have sold most of the shares of Chinese stocks that I had. I did not see this selloff coming, I just decided to take some profits. Sometimes it is better to be lucky than good.
Those who love volatility must be loving the Cinese markets. Since the November lows, Shanghai moved up more than 100%. Now it has dropped 20%.
I personally will wait for this to settle down before looking to get in to Chinese stocks. I have sold most of the shares of Chinese stocks that I had. I did not see this selloff coming, I just decided to take some profits. Sometimes it is better to be lucky than good.
Posts
No comments:
Post a Comment