Today we had all the makings of a bottom.

- a 4th straight down day in the CSI 300 index hitting extremely oversold levels
- news of China’s sovereign wealth fund Central Huijin buying more banking shares and ETFs with plans for more purchases
- the US 10Y yield topping 5% for the first time since 2007, then reversing
- China signaling removal of price caps on land sale premiums, which have kept well financed developers from participating more actively. It signals Beijing’s willingness to let prices rise again.
- recent economic data showing China’s economy picking up steam with GDP above expectations.
Chinese stocks have a habit of rapid rebounds and this could be another opportunity.
Although you wont hear it said much, this market offers value and growth in a world that is filled with froth and bubbles.