FXP is actually a decent short and long term play since FXI only needs to trade thru $45. FXP needs to take out 7.87 still but that's not too fer away from this close. Methinks thisn will run thru 9.25 befo it sees 7.87 tho. 3J
This is a great one! While it is still below support levels, I say it touches the 50MA by the end of the week, compare it to other small cap chinese stocks ... holding it beyond the 50MA might be too risky, though it has some ceiling room (remember this one tends to trade in inverse to sentiment toward the overall health of the US Market). I would just take the 40% gain and run!!!
China is having real resistence in any economic advances at this time. Their economy should take another dip for a while before any big bull trend that might occur late in 2009.
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