March 19th: Ed’s Daily IRA Summary   13 comments

I made back the money I lost yesterday, and beat the indexes too:

EUM: 0.57 to $28.17 ( 2.07% , 2.29% overall)– bought at $27.54

OVERALL: +0.22%


Posted March 19, 2014 by edmcgon in Open Thread, Portfolio

13 responses to “March 19th: Ed’s Daily IRA Summary

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  1. So far so good.

    • An hour long documentary? Can you give me the Cliff Notes? 🙂

      • Ed, it’s good you should watch it or scan through it. Talks about China’s building boom.

      • The summary is quit simple: China’s debt buildup in the past five years is never been seen, it grows twice as much as gdp and is now more then twice the gdp – they built up the financial flow in five years which took USA 100 years. This debt will blow up some day. The first cracks are being in sight. They are kicking the can down the road as long as they can out of fear of protests and because the rich can get richer this way – and the poor/middle class of course not … conclusion: china should look for quality growth and not quantity growth and a crash is very mathematically (growth not sustainable and in dangerous territory) probable.
        Nothing new to me, but if you are still buliish on china, you should see it completely.

      • Believe me, I’m the biggest China bear you’ll meet.

      • For those who are not bearish on China yet, I can advise the blog of Patrick Chovanec. There hasn’t been posted in the past year, but his last topics are still spot-on.

  2. daily p/c ratio and volume

    DIA; 1.26, 63.6K
    QQQ: 1.21, 369K
    SPY: 1.38, 1.71MIL
    IWM: 2.34, 307K

    • mdistas,
      That’s a big bump from yesterday. Do I smell fear in the street?

      • I dont see it as a huge possibility. Need to keep an eye on the ratio and volumes. The ratios have not increased to a level that would be associated with a pullback. Another day or two of data might help.

  3. Thanks BillR — very interesting documentary. Having spent two months in China last year and having been in the building industry I can say I have never seen development like China. Headed back to Chengdu in May for my nephews wedding and will get to see the great Chinese Cities of the World. And yes, I hope their economy doesn’t crash.

    • Latetom, Were the cities really empty when you were there? Are you going to buy one of those 300,000 pound condos? Would be a nice wedding gift 🙂

      • We definitely saw high rise complexes which all work had stopped. This was the exception rather than the rule but I do remember driving by 8 to 12 20 story buildings with no work going on or looking like any work had been done in the last several months. And this was two years ago not one year ago as I noted above.

        Plastronneke, your review was spot on!

      • Tom, I’ve been to Chengdu as well. Love that part of China even though I don’t love the huge cities. Lijiang and EmeiShan, were two favorites. We had to stay in hotels in the big cities and often it appeared like there were maybe 3 active floors in a 15-20 story building. I would agree that the pace of construction was incomprehensible. This was back in 2006 though.

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