Well I have to say the recent moves in the 2 Indian banks I own is starting to get a bit frothy - what do they think they are? Chinese banks?
I am cutting back yet again on the Indian banks here as they skyrocket for a 2nd day in a row
- HDFC Bank (HDB) is up from $117 to $137 in 2 sessions: +17%
- ICICI Bank (IBN) is up from $60 to $68 in 2 sessions: +13%
Just too much too soon; I'll look to re-add when things cool off - these are now both sub 1% positions so I won't be selling the exposure any lower. This is where I hand off the stocks to the momentum lemmings who love stocks making new highs; the 'buy high sell to the next fool higher' crowd.
It appears the love of emerging markets is back - I see the Chinese stocks are ramping back up (yet again)
Long both in fund; no personal position
