deliver, RMB more likely overvalued by at least 10% after pegging with US dollars so long in order to get IMF SDR status. IMF delayed the SDR status discussion until September next year. China economy will be in trouble if hanging that long. Therefore, two days of devaluation is necessary for China economy. This trend may continue tonight. If tonight another 2%, tomorrow market will have to figure out its explanation. I won't expect the SP500 will break its 200 days average line. Gold may benefit from China RMB devaluation and China QE. Last time gold went up due to USA QE. Now both Euro and China QE may produce enough deflationary forces around the global. Buy GDX calls - can be an option. -jstone
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