Monday, August 31, 2009

Its all about China and Oil this week ?

Yahoo Finance "top stories" ; what do I notice ? Again oil (now they doubt that a recovery is taking place). Asian markets fall as China goes down 6%. (Again). I have been bearish on China (see past posts) and into (FXP).
Proshares Ultra Short China 25 (FXP) ; probable target is 11.5$.
Regarding oil, focus on the Powershares DB Crude oil dble ETN (DXO) ; Strong support @ 4.4$

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