ETF Buying

The Fed is doing it, but not in huge size. Various issuers are being identified on Twitter etc. as though their appearance on the list would be a buy signal. Similarly, a list of the ETFs, headed by $LQD, as you’d probably expect.

China

Things look a bit ugly in China. It is a big problem, and HK is just symbolic, but important. I cannot see how this will end, but I imagine that it will end peaceably, because both sides have so much to lose. I wish I believed that more completely.

Wisdom of George Soros

This page tells how good old George liked to play truant from work but still make money. George was clearly a genius trader, but his books are total rubbish, as far as I’m concerned.

Wrap

We’re near the end of the month. Indexes struggling to rally, but really haven’t moved all month. $FB losing important advertisers ($MSFT especially) but up >2%. $MU reporting results. Declining margins, rising inventory in a commodity business. Still up. $IWM looks full of rubbish to me, but still up 3%. $TSLA being pumped by fElon as if it can make a profit this quarter, it will get into the SP500 and everyone will have to buy it. I don’t know the rules, but hopefully they specify a GAAP profit. $TSLAQ on FinTwit going bananas at the very idea. King Gold Jewellery in Wuhan ($KGJI?) shown to be a fraud: “gold” bars were gilt copper bars. Various suggestions that $BABA is fraudulent. Someone should put all the suggested frauds into an ETF. Would have to be worth a flutter.