good luck longs. i sold some shares today. China PMI data has been bad lately.
if the number is not good, XIN might drop on monday. Got burned last week, when it dropped to 3.87
But this is still my long term stock.
Now that was smart as the pre PMI a week ago showed it would be down substantially. The only thing is, this
stock because it is on a US exchange, will follow the US markets in general except a knee-jerk reaction initially. Eventually it will sink in about the real estate bubble in China, but it'll probably take a brick falling on most people's heads.
'Two gauges of China’s manufacturing fell in June, underscoring a sustained slowdown in the nation’s economy as policy makers seek to rein in financial speculation and real-estate prices.'