http://money.cnn.com/news/newsfeeds/articles/prnewswire/200908120900PR_NEWS_USPR_____CNW012.htm China Ritar Power Announces Conference Call to Discuss Second Quarter Fiscal 2009 Results
Got the 5.25 today on the leg down I quoted above.... It's like fishing.... patience... patience.... I think it has a 50/50 chance of dropping to the next leg down around $4.90ish-$5... patience... patience... If it drops down here and holds, maybe puts in a small bass, oops I meant base, I may get in. patience... patience... patience... Anyone watch CISG? heh heh heh shhhhhhh!!!
Got the $4.90ish on CRTP. Due to today's close, now looking for the bottom to get put in around 4.30-4.50ish. Got stopped out of CISG today... hate when that happens! RINO may be at it's support. Perhaps overly optimistic but may move to 17, but high probability of moving to 14, see what happens tomorrow.
China Has been buying many investments in the energy field. I believe all Chinese equities have a serious chance to grow in the next 2 quarters. I would say buy buy buy! http://money.cnn.com/2009/08/17/news/international/china_oil/index.htm?postversion=2009081707 Anybody know of a good Chinese oil company?
I'm thinking so too except the rumor that was surfacing today is that China's accounting standards are slippery. Obviously this raises the risk, but I'd hafta side more with the fact that alot of very smart and calculating traders and investors are buying these stocks up. I'll take a look tomorrow to see if I can dig up an oil company.
I notice RINO International Corporation, stock symbol RINO trading at or near historic high price values on increasing volume. I do not find any profile or financial statement information for RINO at yahoo.com. RINO International Corporation may be a Chinese company in the steel desulphurization business. http://finance.yahoo.com/q/mh?s=RINO lists no institutional or mutual fund owners. I do not own RINO stock nor do I intend to. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2585044 \img>
RINO is one of those stocks that is a puzzle for investors. It was $2 in March and only traded a couple of thousand shares a day; not very liquid, but cheap. Then as the March come-around began for everyone, RINO took off. It passed $11 in June and passed $17 in August. At today's price, that's a 950% gain and its trading a half a million shares a day. A lot of analysts, pundits and investors missed this stock and just as many picked up on it in March and have followed it since. RINO is in the environmental protection business. On September 8, RINO announced it had commenced installation for its new proprietary ammonia based desulphurization system (the "DXT system") on a system at Hunan Lianyuan Iron and Steel Company. The total contract value was $14 million with the installation scheduled to be completed during the second quarter of 2010. The next day, research house Rodman & Renshaw initiated coverage with a 'Market Outperfrom' rating. But why should a producer of proprietary and patented wastewater treatments and high temperature anti-oxidation systems for iron and steel manufacturers in the People's Republic of China gain that much value in six months. Thus; the puzzle. RINO is majority owned by insiders, has an astronomical sales growth and a wide spread on its margins. Perhaps that's a piece of the puzzle, past performance, but I have to think that the overwhelming incentive to such a gain in value has to be China's having to deal with industrial pollution as its moves from some of the dirtiest growth the world has ever seen to establish a capitalistic base to a more responsible player on the world stage. In any case, if you're a good puzzle-solver and even though the money may already be 'made' in RINO, there could be a lesson here for future investing. RINO is headquartered in Dalian, the People's Republic of China and at $19.41 today, it will set a new 52-week high beating the previous high of $18.73 set on 09-24-09. At $19.41, RINO is far above its 52-week low of $2 set on 03-26-09. RINO is ahead of both its 50-day and 200-day averages. RINO has trailing twelve month revenues of $162 million and a trailing twelve month diluted EPS of $1.32. RINO has approximately 25 million shares outstanding and only 5 million shares in the public float. Again, it is majority owned by insiders. Stability must be a part of the puzzle as well.