buying FXP, visual treats

Click this text for a short but fascinating photo journal of yet another hype-fuelled bubble/scam that has bit the dust, "Off the Deep End: A Look at the Decline of Dubai"

Speaking of hype-fuelled bubbles, we go long the ProShares UltraShort FTSE/Xinhua China 25 ETF, FXP which closed the week at $7.46 This is essentially a levered short on the Chinese stock market and economy.

"ProShares UltraShort FTSE/Xinhua China 25 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the FTSE/Xinhua China 25 Index (the Index). The Index consists of 25 of the largest and most liquid Chinese stocks listed on the Hong Kong Stock Exchange (HKEX). This free float-adjusted Index caps the weight of any of constituent stock at 10% to ensure broad representation of the Chinese economy. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as –200% of the daily return of the Index. The Index is a price return index. The Fund’s investment advisor is ProShare Advisors LLC."

Its downtrend does not yet appear to be over, from a technical perspective, so in case it drops significantly we're planning to add to our holdings rather than stop out. Our thinking may change on that, but for now we feel increasingly certain that a turn in the global markets is imminent.


More photo journals, these of Chinese pollution :

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Lightening up a little, some fine video entertainment !






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