Last month I had written about my view to buy H share ETF (XPP) as chinese markets were looking oversold and a sharp pullback was expected. I had bought XPP etf at about $52 per share with a potential target of 62-65 within 6-8 weeks. Well, it turns out that I was a bit pessimistic as the XPP closed yesterday ( about 5 weeks) at $61 and will probably hit the target levels within the next week given the newly announced rate cuts in china. At this point I will be booking profits around these levels and wait for the markets to consolidate and I would advise you to do the same. Greed is not good at this stage as the oversold conditions do not exist anymore while the market remains in a downtrend. It will take few more months to consolidate before markets decide to move up higher. XPP ......