Official China Turd Index: Sucker's Sixteen

too bad you couldnt do what we used to do in the old days... buy 100 shares and then sell 1100..... ie. short 1000 peace biatches

 

I've made a portfolio of the China Turd Index, with up to $5000 for each stock, rounded down to the nearest 100 shares. Here are the results at 2:45 pm EST.

Symbol Last Trade Change Shrs Price Paid Gain
- - 44.13 100 4,433.80$4,433.80 CHNR 2:46PM ET 44.27 Up 5.02 100 44.13 20.80Up $14.00 Up 0.32%
- - 11.78 400 4,456.00$4,456.00 CSUN 2:45PM ET 11.14 Down 0.40 400 11.78 -256.00Down $256.00 Down 5.43%
- - 9.07 500 4,405.00$4,405.00 CTDC 2:45PM ET 8.81 Down 0.40 500 9.07 -130.00Down $130.00 Down 2.87%
- - 7.88 600 4,656.00$4,656.00 CNTF 2:44PM ET 7.76 Down 0.37 600 7.88 -72.00Down $72.00 Down 1.52%
- - 9.92 400 3,852.00$3,852.00 CPSL 2:46PM ET 9.64 Down 0.53 400 9.92 -116.00Down $112.00 Down 2.82%
- - 8.85 500 4,340.00$4,340.00 XFML 2:44PM ET 8.68 Down 0.16 500 8.85 -85.00Down $85.00 Down 1.92%
- - 40.70 100 4,017.00$4,017.00 JRJC 2:45PM ET 40.14 Down 3.11 100 40.70 -53.00Down $56.00 Down 1.38%
- - 15.24 300 4,410.03$4,410.03 KUN 2:41PM ET 14.80 Up 4.21 300 15.24 -161.97Down $132.00 Down 2.89%
- - 25.11 100 2,170.00$2,170.00 RCH 2:40PM ET 21.70 Up 2.95 100 25.11 -341.00Down $341.00 Down 13.58%
- - 8.95 500 4,480.00$4,480.00 CDS 2:41PM ET 8.93 Down 0.47 500 8.95 5.00Down $10.00 Down 0.22%
- - 14.35 300 4,155.00$4,155.00 GSI 2:40PM ET 13.82 Up 4.34 300 14.35 -150.00Down $159.00 Down 3.69%
- - 2.59 1,800 5,130.00$5,130.00 ATS 2:40PM ET 2.87 Up 0.67 1,800 2.59 468.00Up $504.00 Up 10.81%
- - 8.28 600 4,932.00$4,932.00 KONG 2:46PM ET 8.22 Down 0.24 600 8.28 -36.00Down $36.00 Down 0.72%
- - 29.21 100 2,770.00$2,770.00 EFUT 2:46PM ET 27.65 Down 3.95 100 29.21 -151.00Down $156.00 Down 5.34%
- - 7.41 600 4,394.28$4,394.28 SCON 2:45PM ET 7.32 Down 0.17 600 7.41 -51.72Down $54.00 Down 1.21%
- - 8.72 500 4,421.50$4,421.50 NOEC 2:45PM ET 8.87 Up 0.92 500 8.72 61.50Up $75.00 Up 1.72%
- - - - 67,022.61$67,022.61 Total (USD): - - - - - -1,048.39Down $1,006.00 Down

 

You should hedge with a call or two on the FXI. I recommend buying a couple of VHFAS.X FXI Jan 09 200 strike for $28.00 each. You can then write two contracts against that position in November 2008 to cover the negative theta, so sell two FNQKB.X FXI Nov 08 210 calls for $3.80.

 

These ADRs are commonly used for P&D. Toss JADE in there while you're at it.....

 

The turd index is up $771.00 or 1.13% at the close from where I initiated with a STRONG SELL rating.

Symbol Last Trade Change Shrs Price Paid Gain
- - 44.13 100 4,426.00$4,426.00 CHNR 4:00PM ET 44.26 Up 5.01 100 44.13 13.00Up $13.00 Up 0.29%
- - 11.78 400 4,466.40$4,466.40 CSUN 4:00PM ET 11.17 Down 0.37 400 11.78 -245.60Down $244.00 Down 5.18%
- - 9.07 500 4,485.00$4,485.00 CTDC 3:59PM ET 8.97 Down 0.24 500 9.07 -50.00Down $50.00 Down 1.10%
- - 7.88 600 4,512.00$4,512.00 CNTF 4:00PM ET 7.52 Down 0.61 600 7.88 -216.00Down $216.00 Down 4.57%
- - 9.92 400 3,940.00$3,940.00 CPSL 4:00PM ET 9.85 Down 0.32 400 9.92 -28.00Down $28.00 Down 0.71%
- - 8.85 500 4,375.00$4,375.00 XFML 4:00PM ET 8.75 Down 0.09 500 8.85 -50.00Down $50.00 Down 1.13%
- - 40.70 100 4,090.00$4,090.00 JRJC 4:00PM ET 40.90 Down 2.35 100 40.70 20.00Up $20.00 Up 0.49%
- - 15.24 300 4,535.97$4,535.97 KUN 3:59PM ET 15.12 Up 4.53 300 15.24 -36.03Down $36.00 Down 0.79%
- - 25.11 100 2,051.00$2,051.00 RCH 4:01PM ET 20.51 Up 1.76 100 25.11 -460.00Down $460.00 Down 18.32%
- - 8.95 500 4,375.00$4,375.00 CDS 4:00PM ET 8.75 Down 0.65 500 8.95 -100.00Down $100.00 Down 2.23%
- - 14.35 300 4,602.00$4,602.00 GSI 4:00PM ET 15.34 Up 5.86 300 14.35 297.00Up $297.00 Up 6.90%
- - 2.59 1,800 6,534.00$6,534.00 ATS 4:00PM ET 3.63 Up 1.43 1,800 2.59 1,872.00Up $1,872.00 Up 40.15%
- - 8.28 600 5,034.00$5,034.00 KONG 4:00PM ET 8.39 Down 0.07 600 8.28 66.00Up $66.00 Up 1.33%
- - 29.21 100 2,640.00$2,640.00 EFUT 4:00PM ET 26.40 Down 5.20 100 29.21 -281.00Down $281.00 Down 9.62%
- - 7.41 600 4,524.00$4,524.00 SCON 4:00PM ET 7.54 Up 0.05 600 7.41 78.00Up $78.00 Up 1.75%
- - 8.72 500 4,250.00$4,250.00 NOEC 4:00PM ET 8.50 Up 0.55 500 8.72 -110.00Down $110.00 Down 2.52%
- - - - 68,840.38$68,840.38 Total (USD): - - - - - 769.37Up $771.00 Up 1.13%

 

I used to look at valuations, P/Es and fundamentals. I believe its the sucker that looks at those things...

I would look at the general trend and ask yourself if its going up or down and just follow it. Things like fundamentals just get in the way of logical thought. Keep it simple...

 

Turds? These have been some of the most profitable stocks I have ever owned. These are great stocks.
Crappy fundamentals and absurd valuations....Who cares?

 

As long as you can get out before they turn against you, more power to you.

 

That's called a market. These guys will most likely double, triple, quadruple from here before it's all "over".. All pullbacks are buy opps, circa nasdaq 1999.

 

Given the floats on some of these, they can look expensive only to get flipped again and again putting in newer highs at the blink of an eye. 2 million float with 10 million in volume means higher given how few have access to shorting them. Most traders can only go long, and given the float in some of these its a couple of hours, who knows. Right now it's where every trader is hanging out watching them looking for buyops to flip. I think if volume continues to hang out in chinese stocks, it's not done for weeks even if FXI put in that ugly island doji reversal candle.