7/9/2015
By Charles Payne, CEO & Principal Analyst

It seems like each night when we go home, we wonder what will hit us in the morning, knowing it is not going to be good news. Wendesday night was no different; there is China, Greece, Iran, and the NYSE-and now we can throw in corporate earnings.

China closed right at a point where technicians say that it must hold 3500. I actually saw a lot of Chinese names that traded on U.S. exchanges reverse higher Wednesday which may be a good sign.

The threat now is how to stop all those margin calls, which are directly correlated to the rally in the Chinese market. On one hand, throwing gobs of money at the problem, halting trading, and making large shareholder delay sells for six months, is actually making things worse.

Let’s see if the Chinese market can find a way off the canvass like many individual names that trade in American exchanges did Wednsesday. 

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Charles Payne
Wall Street Strategies

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