Bearish on China

Fox News commentator Jonathan Hoenig recently recommended taking a bearish position on China with the purchase of UltraShort FTSE/Xinhua China 25 (FXP).

Hoenig’s logic?  The Shanghai Composite (China’s stock index) has closed below its 200-day moving average for the first time since last March, a worrisome sign that the boom in China’s economy could be slowing.

FXP seeks daily investment results, before fees and expenses, that correspond to twice (200%) the inverse (opposite) of the daily performance of the FTSE/Xinhua China 25 Index.

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