Monday

The Power of 8888

Post a Comment April 20, 2009 – 10:28 pm |   | Permalink |  Print This Post |

Forget about technical analysis, traders need to learn about Chinese culture when it comes to trading in Asia. Yesterday, China H shares dropped from 9318 to a low of 8888, and recovered all the way to close up 1.46% (>350 points). Such was the power of 8888, we have no doubt many orders to open were at this auspicious number.

The fact that the Chinese hosted the Olympics in 2008 was not a coincidence - infact the opening ceremony of the Summar Olympics in Beijing began on 8/8/8 at 8:08:08 local time (thats 8 seconds and 8 minutes past 8!). You can bet that the number of induced labours on that day around the world would be astronomical. The telephone number with all digits being eights was sold for $USD 270,723 in Chengdu, China. And the number plate A888888 sold for 1.12 million RMB (164,000 USD).

The Power of 8888 : Major Support

powerof8