BOUGHT +83 CAF @24.02

[caption id="attachment_226" align="aligncenter" width="500" caption="Morgan Stanley China"][Morgan Stanley China][][/caption]

Upside: News #1:Central banks act to calm markets (financials go up). News #2: China steps in to prop up stocks (China go up). And CAF chart looks good.

Resistance: \$25 from 2 days ago, then \$30.

Downside: It's a financial! And investment bank at that! No telling what mass panic could cause...

Support: \$22.25 from 2006.

Bottom Line: With the mass fear in Financials (doom's day-like media headlines here in Hong Kong), I believe we're near for a short squeeze rally in the market.

Target: Some kind of big spike. I'll sell into strength. Or \$30. I do want to hold this for a few weeks if possible.

Stop: 2 day consecutive close below \$22 and fade out of buy signals. Gotta watch this one close.

Fee: \$5.00

[Morgan Stanley China]: http://traderpau.files.wordpress.com/2008/09/2008-09-18-caf.png