With many of the Chinese names ripping over the past few days, it is easy to forget about the previous hand grenade carnage caused by PUDA RINO FUQI CCME etc. Indeed, I do not doubt that many of these China small caps are street corner hustles. Hence, I am inclined to look for stocks that at least have tangible businesses, such as the Chinese economy hotel chain operator HMIN, whose ticker symbol always has me conjuring up images of Vietnamese Marxist Ho Chi Minh.
What I like about the daily chart, seen below, is that it is not nearly as extended as some of the other high-flying China names, but it is still set up quite well. It might need some more time to work through its ascending triangle, but either way I love it above $45. I have no position as of this writing.
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Just for kicks, check out CHL’s one minute chart today.
I know people who’ve stayed at HMIN’s hotels before, and reported that they’re quite ok.
Thanks–was meaning to check out CHL too.