CAF Gives Us 25% Trade
by Mike Paulenoff
December 5, 2014 • 5:58 PM EST
Back on October 29, we posted a chart and trade set-up on the Morgan Stanley China A Shares Fund (CAF), in anticipation of business growth and profits emanating from mainland Chinese companies, in particular those that serve or will serve the enormous middle-class consumer.
This anticipation was evident not only from the macro picture but from the giant base formation developing in CAF chart.
We issued a trade alert in CAF at 24.00, and were able in just a little over a month yield in excess of 25% as we took the profit on Friday December 5 at 30.77.
That's certainly not the last we'll see in trading CAF, which we expect to be re-entering on weakness.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts
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