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发表于 2010-10-22 08:45 AM
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Just one update: hutong9.net appears to have been blocked in China since about 2 days ago. I now have to access the site via a client's terminal service session. China's Internet is really slow, espeically when you need to access remote servers. This makes coming to Hutong9.net really difficult and I probably won't be providing any real time update for the rest of my holiday in China.
Coming back to the market, the new high yesterday was made with locals triggering paper buy stops. Locals were long off the open with No 1 biddding with the rest of the pit (quite unusual). They were successful in triggering paper buy stops from JP, GS, Swiss, Chi Corp, Solamon and we saw the massive spike-up. Locals sold into the paper buy stops and got short from there and managed to push the market lower and flattened out near the opening range. Given the pop was really triggered by local manipulation triggering paper buy stops, I wouldn't read too much into it. This morning, No1 and the rest of the pit again went long off the open. They were successful in pushing the market to its high print initially, however, were unable to hold the market near the high print. They flattened out near the opening range and has since been mixed. No 1 has since left the pit. GS has been a big buyer in this narrow range (presumabley because their research paper said to buy any dips so that one can front-run the Fed on POMO day with today being one).
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