There was an article earlier this week in the WSJ with comments from a British analyst who focuses on world markets. He predicted both the dot com and sub prime bubbles. He calls the Chinese market a bubble but warns that it will take many years for it to pop. Bubbles may be easy to identify, but if you short too soon you can get burned just as easily as being long and waiting for it to pop. The economy is still cooking over there and will remain strong at least through the Olympics. That is a very big deal to China. Be careful.