Holy Crap this could get bad.
From last Saturday:
Is China's Shanghai Index Approaching the Waterfall Decline?
You know how it goes.
You get in the river and it's flowing just enough to be exhilarating and then the gradient increases and you're right on the edge of control and you'd be worried about the class 5's except now you hear a fucking waterfall.
From Alpha Global Investors:
(click for larger image)
Shanghai Stock exchange weekly chart ; Clear long term lower highs (see red arrows)...MORE
And from Bloomberg this morning:
China’s Stock Index Erases 2012 Gain After June Plunge
China’s Shanghai Composite Index (SHCOMP), the world’s second worst-performing stocks measure this month, erased this year’s gain on concern a manufacturing slump and the European debt crisis will deepen the economic slowdown.The Shanghai index dropped 1 percent to 2,195.84 at the close, a seventh day of losses. The gauge has lost 7.4 percent in June. The measure had gained as much as 12 percent this year through its peak on March 2. Trading values on the Shanghai Stock Exchange fell to a five-month low yesterday....MUCH MORE, including a note on a former favorite:
Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co., China’s biggest producer of rare earth, declined 5.5 percent to 37.95 yuan.