Over the last two days we have reviewed the Chinese yuan exchange rate, its anticipated rise and how that presents an opportunity for owning Chinese stocks. Funds seem to be the best route, and here are criteria for selecting a promising one.

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This article is about four exchange traded funds (FXI, GXC, PGJ, HAO) and four closed-end funds (CHN, JFC, CAF, GCH), and the deteriorating price performance of those funds and the China indexes.

Putting the bottom line at the top, we think China is rolling over, at least in the short-term, and we are short FXI as of last Thursday, but still long the S&P 500 (proxy: SPY) for the time being.