Chinese Food for Thought ($FXI)
The second wave of the financial tsunami is upon us as China ($FXI) shows the most weakness since the March 2009 bottom. I have come to this conclusion by way of three observations, all of which are entirely anecdotal but bear semblance to significant omens.
One, the intelligent progeny of a Goldman/Citadel alum told me that he wants to short China due to its leverage and over production .Two, like the proverbial shoeshine boy, a friend expressed her excitement to yours truly, “I have a friend who invested in China, and he looks like a cat that just drank a bowl of cream…”
Three, the primary uptrend that began in March of 2009 has been broken.
C. Amadeus
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