I looked at the Hong Kong market today and it dropped off a cliff near the close. China is much weaker than many people think. A popping of the real estate bubble there would have huge negative ramifications for what the institutions are most bullish on, which are commodities.
Today the time frame for a bear raid is probably just 2 hours after the opening bell. I don't see another late day selloff the day ahead of options expiration. I do expect early weakness after the weak closes the last 3 days. But based on the benign action in pre-market, the dip will likely be bought.
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