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China Wants To Bottom 2 comments

The bursting of the China tech bubble in the last couple of months has brought down most ADRs from China to very low levels. The drop seems unfair for many stocks, especially considering their growth prospects and low and attainable forward valuations. Now, it seems that China is attempting to bottom after a brutal bear market, and I am getting ready to try out some long positions in China after getting out of every position in the June-August period. If we look at iShares FTSE China 25 (NYSEARCA:FXI) and Guggenheim China Small Cap (NYSEARCA:HAO) ETFs, we can see that they are trying to cross their 50-DMA lines. If FXI manages to close above $38 (it is up 4% in pre-market at the moment of writing) it would constitute a higher high and it would be the first time the ETF has done so since the correction started. The same can be said for HAO, although it...


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