正文
Posted this in a private forum today. I would like to repost it here.
On FXI\'s current state, technically, I don\'t like the stock at the moment: it\'s at a very critical level: it could make or break over the coming days/weeks. The stock has never been below its 200-d ma line for this long (since early Jan) since its IPO more than 3 years. If it doesn\'t pick up its acts soon, it\'ll head to the 110-120 area. Long-term, I don\'t mind how people like to trash China and everything China-related, I believe that China and Asia will trounce the Western economy for the many years to come. I think as human being, we tend to be influenced more by popular views, and have difficulty accepting the unimaginables. As I mentioned here recently, this is like 20-30 yrs ago, nobody in the US auto-industry believes the Japanese cars could challenge them. We know what happens now.
With this snow-storm mess, while many laughed at the Chinese government as being sloppy and self-promoted, I myself really admired the hearts and the enormous efforts the Chinese people and their leaders (Hu & Wen etc.) have showed over the past couple of weeks. Many scenes that I saw brought out my tears - I wish I could be part of the efforts too (made a donation to the Chinese red-cross a week ago).
Being an investor, you sometime have to have the courage to do what others thought unimaginable. Holding Chinese ADRs is one of those at the moment. They contributed to my YTD\'s -9% total return. But I am willing to stay in the game and continue to keep over 20% of my investments in FXI, SNP, PTR, CHL, CTRP, ACH, HOGS expecting a better tomorrow to come. I have also put my cash in China back to work again in the A-share market last week.
On FXI\'s current state, technically, I don\'t like the stock at the moment: it\'s at a very critical level: it could make or break over the coming days/weeks. The stock has never been below its 200-d ma line for this long (since early Jan) since its IPO more than 3 years. If it doesn\'t pick up its acts soon, it\'ll head to the 110-120 area. Long-term, I don\'t mind how people like to trash China and everything China-related, I believe that China and Asia will trounce the Western economy for the many years to come. I think as human being, we tend to be influenced more by popular views, and have difficulty accepting the unimaginables. As I mentioned here recently, this is like 20-30 yrs ago, nobody in the US auto-industry believes the Japanese cars could challenge them. We know what happens now.
With this snow-storm mess, while many laughed at the Chinese government as being sloppy and self-promoted, I myself really admired the hearts and the enormous efforts the Chinese people and their leaders (Hu & Wen etc.) have showed over the past couple of weeks. Many scenes that I saw brought out my tears - I wish I could be part of the efforts too (made a donation to the Chinese red-cross a week ago).
Being an investor, you sometime have to have the courage to do what others thought unimaginable. Holding Chinese ADRs is one of those at the moment. They contributed to my YTD\'s -9% total return. But I am willing to stay in the game and continue to keep over 20% of my investments in FXI, SNP, PTR, CHL, CTRP, ACH, HOGS expecting a better tomorrow to come. I have also put my cash in China back to work again in the A-share market last week.
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