The Ultrashort China ETF (NYSE: FXP) looked set to open up nearly
6% on Wednesday, based on very early pre-market indications.
Chart Courtesy of StockCharts.com
It's hard to pen a column based on a security that will trade
an hour after we go to press. But since the Asian markets dove
overnight, this one might be worth looking at.
Over the last few days, the Chinese stock market, along with other Asian bourses,
has been struggling. Tighter monetary policy in China is one reason. The U.S.
dollar is also starting to show some strength.
But mostly, there's a feeling in the air that China is the next bubble to pop.
Lots of commentary has been produced on that topic lately. And why not? China's
centrally planned economy has been a set up to crash for a long time, but hasn't.
That's because the government is clever and has deep pockets.
Yet, there is this thing going on with Google now, which is interesting, as it
may affect the fate of those companies in China that do real business with the
rest of the world.
There's clearly something in the air in Beijing, and on the Shanghai market.
Watch FXP carefully.
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