C.O.B.R.A. Sell Alert: Take A 40% Gain On China iShares Puts
FXI has continued to fall in the past month as investors are bracing for more economic and financial market fallout from China’s property bust. While FXI has more downside potential in the months ahead, we believe it’s also oversold. Policy easing would spark a counter-trend rally. We have a 40% profit in a month, so let’s take it now.