ETF CORNER

FXI : Zai Jian !

This chart below shows how FXI (China ETF) will likely top out ! I think FXI could still make a last push to $44.20 before this rally of 2009 is finally over and done with and we can finally say goodbye to FXI once and for all ! BTW : Zai Jian means goodbye in Chinese !

UUP. FXP : Stopped out !

I'm out of UUP at $22.3 and FXP at $8.00.

FXI : China on the verge !

Still holding on to my FXP(Double short FXI) until FXI reaches at leats $30 ! FXI is right on an important support line.. any significant break on the the downside you better watch out below !

FXI : The Bull Market in China is over !

In case you've missed it, FXI (China ETF) has topped at the end of July 2009 a little below $44 which represents a rise of over 100% ! China has bottomed in late 2008 earlier than the US Indicies did ! Now the opposite is occuring : China is topping out,and the US Indicies (Dow,Nasdaq,SP500) will follow suit ! My prediction is that FXI will retrace 50% of this whole move up before the end of the year ! I have highlited the downside risk in red ! My next target for FXI remains $32 (50% ret level) which  also coicindes with the longer term support S1! You can either short FXI,or buy double short FXP(Double short FXI) or for the traders with "cojones" buy EDZ(Emerging Markets triple short) which also is inversly "correlated" with FXI.