On Monday morning 6 Jul 2020 922am, I emailed Clients my latest post titled 'As long as the Crowd believes in it, we will trade it!'.
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Below is the full transcript of my write up:
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'Dear Clients
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I'll kick off with this (last Tuesday 30/6 PMI announcement) -https://www.cnbc.com/2020/07/01/china-economy-caixin-ihs-markit-june-2020-manufacturing-pmi.html
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Chinese manufacturing PMI has again surprised to the upside. You may wonder whether the data was even possible with the covid shutdown of the last few months. Well, we can argue til the cows come home but as long as the Crowd believes in it, we will trade it!
With the SSECOMP (Shanghai Composite Index) spiking up 6.3% in the past week post PMI announcement, there are some very interesting low risk Hong Kong names that popped up on my Chart radar.
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As for SG china-linked or china-exposed stocks, of course we have some of those mid to big cap names that may follow through with the Chinese strength.
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Pls DM me for the trading ideas, if you are keen. Do remember my view of potentially seeing a bigger pullback for the US markets in the 3rd quarter, thus do watch your downside risks..
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On a side note, due to the heavy work commitments & client servicing, I will be toning down the frequency of the S&P500 Index coverage, ie I shall only write up when there are interesting developments that calls for your attention or at major turning points.
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Of course, the essence of being a client of mine is that you have access to pick my brain for any Stock or Index you have in mind.
As I always quote the late American financier Bernard Baruch - 'Show me the Chart & I'll tell you the news'!
(Reference - www.instagram.com/p/BYr0cMnHI66)
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Live Long & Trade Well!
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Thank you & regards
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Thomas Ng, CMT
Principal Trading Representative
首席股票经纪
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