AERLW and BWOWW look like two good warrants to buy. AERLW is a warrant for Asia Entertainment and Resources (AERL), a Chinese gaming play. They get commissions for sending customers to casinos in Macau. AERL has a P/E of 5, >50% EPS growth this year.
BWOW Beijing Wowjoint(warrants BWOWW) is a Chinese infrastructure play - it builds equipment to build bridges, roads and railways. With China's 15 year plan to build high speed rail across the country, this looks like a long term winner http://en.wikipedia.org/wiki/High-speed_rail_in_China