The Shanghai Composite Index (^SSEC)
keeps going higher as it closed above 5,000 for the first time.
At 5032.49 the index has climbed 88.10 percent for 2007.
This very speculative four-stage upside market could move higher
but be cautious if you plan to buy Chinese stocks at these lofty
prices. Each successive stage of the multi-year upside is steeper
than the previous stage, which suggests that the stage four upside
move is not sustainable.
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Often Occur in Three Stages
Shanghai Composite Index Closes Above
4,000
Shanghai Composite Index Near All-Time
Highs
Posted August 23, 2007.
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