I just went to lunch came back and, wow, this is up 5% on no news that I can see. I thought this would stay in the high 10s for a while before making a climb. There is some news out somewhere. Ok here is the gamble. You know that many of the fund managers and people who make decisions are out for the week. They might get back and change their mind and it might go back down. However, Im going to hold my shares through the weekend. Someone placed a bid under the stock and another person had tested the bottom with two obvious block drops. Each time the blocks were dropped it was bid back up to 10.8 in very short time. So for this reason, I think I will hold. Remember that this stock on its ipo day went from 11 to 17 in short time. If there is news out there that the public doesnt know, it could shoot up very very fast. However, if the fund managers come back on monday and decide to sell CSUN into the breeze, then we are up the creek. I say hold. ****** Here is what the analyst said about CSUN: Jefferies & Co. analyst Jeffrey Bencik initiated coverage Thursday with a "Neutral" rating and a price target of $12.50 per share. He said China Sunergy has increased its production capacity and the efficiency of its cells, and has one of the best research and development units in the industry. However, he said, the company needs to prove it has a steady supply of polysilicon. "We believe it is premature to get aggressive on the shares until the company demonstrates that its silicon wafer suppliers can meet China Sunergy's aggressive ramping plans," he said. Jefferies was co-manager of China Sunergy's initial public offering.
Looks like Steve Tvardek and his gang of prop traders are cashing out at 2pm today and seeing some pressure, but its still holding. At this point, I feel like Im rolling the dice since I dont know the news.