In a word? Scary.
I was looking at the chart of FXI (the iShares for China 25 Index fund) and it reminds me of the chart of GLD (ETF for gold) in May. Parabolic rise with fantastic volume. GLD dropped 18% following that spectacular rise.
There is a lot of hype right now about China. The chart of FXI, however, suggests this may be a good to take some money off the table. Food for thought.
George Dagnino
aka Peter Dag
www.peterdag.com
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