2Y Capital entered 3 positions in China stocks today in anticipation of the "Olympic rally". The China stocks have been in correction mode for almost 2-3 months and i think we are in time for a technical rebound that could possibly have some 'meat'. As this is a counter trend rally, it would pay to be nimble and to cut loss if the initial views are wrong.
Sinotechfibre
Enter some positions at 56c. Cut loss around 50 cents. Possible targets are 60c -> 70c -> 80c.
China Sky
Enter some positions at 78c. Cut loss around 74 cents. Possible targets are 85c -> 95c -> 105c.
Celestial Nutrifoods
Enter some positions at 78c. Cut loss around 74 cents.
Possible targets are 83c -> 93c -> breakout .
