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The market is closed mixed at this Wednesday. After both Yahoo and Intel delivering better than expected results, Nasdaq is again taking the leadership. Since it is not a secret anymore to investors that the tech sector is going to deliver good results, the question now becomes how much the market has priced in the good results and whether the upcoming guidance can support continuing upward movements in the share prices. Oil prices retreated a little after touching $89 a barrel. Most Chinese ADRs are doing extremely well today amid speculation that A & H share prices will be merged soon. However, one has to keep in mind that most H shares are already traded in premium(not discount) to many US or European counterparties, which does indicate more risks ahead. That being said, it will be like conducting financial suicide trying to short those stocks right now as John Maynard Keynes famously said Markets can stay irrational longer than you can stay solvent. And I believe we are in one of those periods now.
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