The Chinese Stock Market Sank To A New Post-Crisis Low Today

China's Shanghai Composite index continued its epic decline, establishing a fresh three and a half year low.

Global Macro Monitor describes its divergence from the S&P 500 as stunning.

Could this last much longer?

"I doubt it," said Jeff Gundlach to Business Insider recently.? "Thus short SPX long SHCOMP could be an interesting speculation. ?Probably a better trade today than the short SPX/long IBEX trade that has worked well since I recommended it at Ira Sohn (up 8.3% on the pair trade)."

However, Citi's Tom Fitzpatrick is decidedly more cautious.

"We believe the Shanghai or Chinese stock market is now breaking through the last vestiges of support," said warned Fitzpatrick who sees that index falling another 19 percent.

Here's a 3-year look courtesy of Bloomberg:

Source: http://feedproxy.google.com/~r/TheMoneyGame/~3/ZXffPwEjLZE/chinese-stock-market-post-crisis-low-today-2012-8

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