"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Friday, July 24, 2009

Rut Roh... Big Chinese bank to cap lending

http://english.caijing.com.cn/2009-07-24/110213733.html

"ICBC, one of China's four biggest commercial banks, has set a ceiling for the bank's annual new lending, a sign that the end of runaway credit is in sight."

Please trading godz, let my favored China ETF take just one more pump up to target against this bearish fundamental signal... please. Oh and while you're at it, let's get one final dump in its inverse ETF.

Edit (11:57) I just noticed that the gentleman in the picture looks kind of like a cow at a feeding trough. Sort of how the plucky American consumer of yesteryear used to look. Just grazing and grazing without a care in the world. 'Mmmm, credit good.'