As lightly as I was positioned, there was one item I felt comfortable shorting yesterday, and that was FXI (the main Chian ETF). The position is already profitable, and I’ve got a stop-loss set at 37.35:
Here is the longer-term view. FXI actually peaked over four years ago (!) in February 2021, which illustrates how, even in this insanely bullish world, China has been lagging. Suffice it to say that even a hint of overall equity weakness on the planet will send the middle kingdom into a tailspin.
