Regards Asian markets, take note that the Shanghai index is now about 2,000. Take note because the last bottom was about 1,000, back in mid-2005. Then it ran itself up to about 6,500 before walking off the cliff.

If you have access to trade the Shanghai index, that index is starting to look inexpensive. When it gets to 1,500 it is going to give me a hard on and I’m going to start spending some money on Chinese stocks.

Do note that the exchange was closed today I believe due to holiday.