by John Galt
February 25, 2016 05:15 ET
No wonder I couldn’t sleep. There was a bear porn movie on in at the Shanghai Stock Exchange:
After the initial down draft, the lunch time break failed to prevent the afternoon panic. After a brief bout of government intervention before 2 pm local time, everyone bailed. This is a very bad omen for March. The US markets might have the cheerleaders out discussing how the bear is over, the correction has corrected, and that this is the buying opportunity of a life time. Tell that to Chinese investors who believed that when the Shanghai SSE was above 3,300 a long time ago, in a galaxy far, far away.