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Let me provide my views on US and Asia economy.
US Dollar will recover, that means commodities will stabilise. Even though it is hard to believe commodities will stop rising with rice price rocketing to the sky, I believe the smart money will pour back slowly into US equities and US dollar.
Low US dollar, low property price, attractive financial sectors price levels and US election year.
Higher Japanese Yen, Higher Chinese Yuan, Tibet Unrest. The fund manager will probably run away from these countries for now. If you were the fund managers, I believe you have escaped months ago, and pull out the remaining funds.
I am not going too bullish on US yet, but it should not be that bearish.
Let see whether I am right. (Don't worry Sun, I still have a lot of non-directional trades, only skew to bullish side).
I am slightly bearish, I normally construct puts more than calls. The fact is the options premiums for puts is higher than calls most of the times. Most traders who are long in the market usually hedge their positions buying puts as protection. I have a bird eye view of the market, not need to know indepth as I trade non-directional, market go up down and flat is OK for me.
It seemed your view was correct, the market gapped up this morning. The momentum looked promising this time.
I find that 1 April is the time for the market to reverse up. But then it faces selling pressure in mid April slightly, then enter what they called 'Sell May Buy Sept' period.
The view today is lots of bearishness due to GE ..which a blogger called "General Electrocution" of the market. The US economy and mkt is bearish ever since S&P broke 1400pts and Dow 12,800 ! I got a number of puts around, hope I am correct and make some money !