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Two Ways: China Shows Signs of Economic Life


Strengthen your portfolio in good times and bad.


China On the Rebound?

China's GDP numbers, which came out last night, showed growth of just 6.1% in the first quarter. According to the New York Times, it's the country's slowest rate of growth in almost a decade, dragged down largely by a sharp decline in exports. But despite the weak numbers, Beijing reported a 30% surge in urban fixed-asset investment in March and an 8% jump in urban industrial output - 2 signs the world's third largest economy may be turning around.

For more on China, see Professor Lance Lewis' China: Let's Keep This Party Going.

From the Bull Pen: Props to Professor Ryan Krueger for putting the spotlight on the Morgan Stanley China A Share Fund (CAF) over the China 25 Index (FXI) earlier this year. CAF is up 65% year-to-date compared to a 10% year-to-date gain for FXI. Those bullish CAF can fade (read: buy) into $30 support.

From the Bear Cave: For a Chinese bear play, one can look to New Oriental & Tech (EDU). See how the stock filled its gap and broke the uptrend on the daily chart. A buy stop can be set 2% above entry.

Quick Check Around the World

Asian trading closed with the Hang Seng -0.55%, Nikkei 0.14%, India -2.99%, Shanghai -0.08% and Taiwan 2.08%.

Glancing towards Europe, we see the CAC 0.80%, DAX 1.04%, FTSE 1.05%

As of 8:10 AM EST, S&P Futures are trading -3 to 845.00, and Nasdaq futures are +4 to 1321.00.

A Look at Commodities

Over in commodities, crude oil is trading +0.20 to 49.45 while gold is -4.10 to 889.60 this morning. Silver is -0.180 to 12.620 and copper -3.60 to 216.30.

The dollar index is -0.0850 to 85.2750.

On the Radar


08:30 Initial Jobless Claims
08:30 Building Permits 550k
08:30 Housing Stats 550k
10:00 Philadelphia Fed -32.0

Click here for the full trading radar.

Good luck, Minyans! Have an awesome day.

In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.

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Position in EDU

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