FXI and FXP, XinhuaChina 25 ETF, and the Ultrashort, both iShares.

Earlier I suggested the Shanghai index (DJSH index ) might be ready for a substantial drop. So far it did drop but not that much. Here is the FXI which is 46% banks which may presently be more to the point as , after all it is the banks that are lending as if there is no tomorrow, even if they are doing it on command. The FXP is the equivalent short, ultra short (3x) which may be a good hedge for any commodity position. here are the charts.

 FXI Feb 2010fxp feb 2010

The FXP looks a little like the heart beat of a patient that did not make it, but then it comes from $200 not that long ago , so evidently there is some potential here.