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Thursday, July 30, 2009

Shanghai, Almost Parabolic

FN: You can see the rate of change increasing... as the move higher becomes parabolic. Yesterday, the first crack appeared. Intraday the drop hit 7%, and day closed with a 5% loss.

The story is that China will reign in the reckless bank lending that has flooded their economy with liquidity (most of which ended up in the stock market).

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