Wall Street Greek: Irresponsible Journalists Misread the China Trade Data

When the China trade data was first reported last evening in China Yuan currency denominated terms, China shares showed little reaction, if not a positive bias considering the prior day’s sharp gains. Yet, before sunrise in the U.S. this morning, and given the headlines I’ve read so far, equity index futures were indicating today’s lower open in the U.S. That should not be the case, given that the news out of China was actually somewhat positive. If the market softness continues to exist after the open, I’m suggesting investors take advantage of what I see as erroneous softness in stocks and buy equities. Coming soon, this week’s inflation indication from CPI data should be soft (another positive), giving the U.S. Federal Reserve absolutely no reason to move rates in October considering all issues. China is stabilizing and emerging markets will mend before long with rising commodity prices. Equities should be headed toward old highs now and the S&P 500 Index to 2050 to 2080 near term, and over 2100 after the October Fed meeting (I expect no rate action). See my full China Trade Report here.

Asian Indices	10-13-15	Investible Via
Shanghai Shenzhen CSI 300	-0.1%	Direxion Dly CSI 300 2X (NYSE: CHAU) – levered
Hang Seng	-0.6%	iShares China Large-Cap (NYSE: FXI) – HK traded
Nikkei 225	-1.1%	iShares MSCI Japan (NYSE: EWJ)
KOSPI (S. Korea)	-0.1%	iShares MSCI S. Korea (NYSE: EWY)
S&P BSE SENSEX (India)	-0.2%	iShares India 50 (Nasdaq: INDY)
S&P ASX 200 (Australia)	-0.6%	iShares MSCI Australia (NYSE: EWA)
Broad Asia		iShares MSCI Asia ex-Japan (Nasdaq: AAXJ)

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