I don't have time to do a thorough comparison between the crash in the Chinese Golden Dragon Index, and the .com crash, but I did chart the golden dragon ETF ($PGJ) this morning.
$PGJ China - This is looking pretty ripe. You can see the bearish channel is about to complete, and I see an upside target of nearly double today's price, at the 200 day. Short covering, going into the summer, is the only catalyst that's needed, for a massive rally.
I started recommending China again, last week, but haven't actually pulled the trigger on $YINN, just yet... but I'll be doing so very shortly!
They say that, "March comes in like a lion, and out like a lamb", and I think that is going to hold true for global equities this year.
The Fed
Watch for the fed to remove a lot of uncertainty from the market this week, giving investors the green light to buy stocks, and dress the windows going into March OPEX, and the end of Q1.
In other words, this looks like a very bullish setup.
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