Many trends go a lot further than most people ever predict. It may not be too late at all. By many measures China equities appear very overheated still.
Ok, while you were mumbling platitudes I was taking my profits on the long side. HHI just popped 3.0% from morning lows. But more power to you.
If you want to short China in general. CBOE just introduced china index futures CX will be traded on Oct. 18,2004 here are the details: CBOE China Index Futures Contract Specifications: - Ticker symbol: CX - Trading hours: 8:30 a.m. to 3:15 p.m. CT (Chicago Time). - Trading platform: electronic trading via CBOEdirect. - Price quotation: quoted in terms of the underlying CBOE China Index. - Contract size: contract multiplier is $100 per point. For example, at an Index level of 300.50, the CBOE China Index futures contract would have a value of $30,050.00. - Contract months: up to three near-term contract months and three months in the March quarterly cycle. - Minimum price intervals: $0.05 ($5.00 per contract). Stated in decimals. - Termination of trading: will ordinarily cease on the business day (usually a Thursday) preceding the day on which the final settlement value is calculated. - Final settlement date: the third Friday of the expiring month. - Final settlement price: the final settlement price for CX futures will be a Special Opening Quotation (SOQ) calculated using the first (opening) reported sales price in the primary market of each component security of the index on the settlement date. - Delivery: cash settled on the business day immediately following the settlement date. Hope you won't be burnt.