Here is a chart of the S&P futures that I found interesting how it topped around 3:31Pm at exactly the first Pivot Resistance (R1) or 1007.75.  It's been downhill from there so far.

Have we finally reached the turning Point? (Click to Enlarge)

As I write this the ticker is heading towards 997.75 which is the first support for Friday.
UPDATE: WE HAVE HIT the first support line of 997.75 and might bounce or crash through.

Update #2: here I am 8 hours later and the futures have made a 360 degree turn. They now hit R1 (red line) of 1011.25.

What do you think? I am also long the Volatility Index (VIX) Via September 40 calls (got long today) because I think we are entering volatile markets again and that would be great.

-K

The stock is in my short term watch list. I will list a few con's and Pros. I considered buying at $15.91.

Pro:

• Olympic Games comping up. Vision China is going to ave increased revenue for next quarter mostly due to the Olympic Games August 8-24, 2008
• The stock went from $9 at end of March to $23 in Mid May and as of June 11,2008 was at $15.91.

Cons:

• Has a huge P/E of 130.
• Chinese stocks are Very Volatile (hyperbole, I know)

UPDATE: June 16, 2008

(newratings.com) - Analysts at Sterne Agee initiate coverage of VisionChina Media Inc (VISN) with a "buy" rating. VISN initiated with a buy rating.