It's really insane of course because PG and KMB are so dependent upon China for growth but idiot money is at work and idiot money has a lot of money and ETFs to boot.
What should people be doing? As I said last week, you can't think about buying anything until tomorrow unless it has really cratered (we have made two small buys and have the most cash in ages for the trust.)
There's just no reason to be aggressive. We are still too high.