$SSEC...Shanghai The new leadership takes over in March and based on current data, I would expect, will have to introduce some stimulus measures soon thereafter, if not even earlier. The Shanghai composite has been a laggard for quite some years and is trading below the psychologically important 2000 level for the first time since 2009 – no bullish signal. Indeed, the Shanghai composite has underperformed materially this year, once again. I certainly do not want to short China, at these levels, given a likely stimulus program is coming shortly. 3 year one year