Europe-China Connection Could Rattle Stocks Money Morning
16.02.10
So quite it's going to take a very sudden and very
powerful change of heart to reverse the fortunes in Chinese stocks. The flashiest name in the section,Baidu Inc.(NASDAQ ADR: BIDU ), recorded a new
high last week but it appears to be the last of Mohicans, to mix regional metaphors. I am pointing all this out because China was a number one on the way up in early 2009 and we just have to pay attention to the fact that it peaked two months before the U.S. indexes in November and is now well on its way down.
Chinese stocks can certainly still attack out of this tailspin, but it has to be soon and it has to be the result of a ton of buying. If that
doesn't occur, then the implication is that this is what the U.S. market will look like in two months' previously.
Meanwhile, over in Europe an initial resolution
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