CSI 300 still up 54% YTD!!!!

The 300 index tracks yuan denominated shares listed on China's two exchanges, and even after last nights 4.7% decline, it is still up 54% YTD. YOWSA!! There is a sense that perhaps the Chinese market is over-heating. Click here for expanded story and GDP and inflation stats. From an investment standpoint, we recall the discourse this past February regarding the speculation that had been building in the stock market - we could say this is certainly evidenced by the 54% YTD move thus far! One writer in the South China Morning Post says the stock market is "now a full blown financial mania." My thoughts? Well, Alan Greenspan was years off calling the top in the US that occurred in 2000 (his irrational exuberance uttering was in 1995!) - so who is to say one journalist's opinion about financial mania is going to be right or wrong! I'd say we should watch the chart closely and be vigilant as to another steep pullback like we experienced in late February. Good luck.