Yes, China is fast becoming the new Rome… millions of Chinese…yada, yada, yada!

Despite high inflation primarily driven by food costs China just reported retail sales up 22%.

 http://business.smh.com.au/chinas-retail-sales-set-record-pace/20080513-2dk4.html

If your going to play China you need to be highly selective going foward. Despite all the eye popping numbers they too are beginning their own perfect storm.

[[HMIN]] Beat the street and gave great guidance. Should be a day trade here and or a short term momentum trade.

On the Chinese calender [[CTRP]] & [[STV]] are to report. Here is what they said last time. 

http://biz.yahoo.com/prnews/080227/hkw004.html?.v=52

http://biz.yahoo.com/prnews/080221/cnth023.html?.v=19

STV has sold off significantly. Yesterday it was up on strong volume. The chart had a recent double bottom with some sideways action. Looks ripe here. Stop out @ $18.02

CTRP has not been cut in half, but has always been a good performer. The chart looks great! Stop out @ $57.46

I will risk buying before the earnings since these companies have been brutally good to me.

Maybe you might try one of those strangles Dpeezy has been writing about; just in case I’m wrong going back to the well for the Nth time.

Always mitigate risk!!!

I will only take half positions before the earnings and add if I deem necessary after getting the “color.”

GLT

by Green Writer

Special Note~ Soon some of you will be receiving  your stimulus check. If your not paying off debt or banking it please be sure to spend the money with your local purveyor.

Recently a poll suggested that a large number of people are dipping into their 401k just to pay regular expenses. This is not a good sign for our economy, considering the average 401k is $33k.

So support your local you know who to reinvest back into America. This means skip purchases that will send this money across the planet.