Apropos of my earlier comments on
and the FXI, I feel compelled to made two additional observations: China
ProShares just announced a new ETF that targets double the inverse of the FXI. The UltraShort FTSE/Xinhua China 25 (ticker FXP) is slated to launch sometime in November – and should provide a wild ride for anyone tall enough and brave enough to get on this roller coaster.
Given that BIDU is trading up some 14 points as I type this, I have updated the optionsXpress Trading Patterns feature (“People Trading BIDU Also Traded…”) which I first posted about a month ago. Many of the names are the same; this also has the appearance of a who’s who of speculative momentum trading.
Finally, I am officially neutral going into tomorrow’s FOMC announcement, but whichever side you are playing, be sure to fasten your seatbelt and cut your losses before they run away from you.