China: When to buy?
All the worries about fraud regarding the china stocks has boiled down to at what point do the "remaining" legitimate companies become such a screaming bargain that smart money begins to move from sideline watcher, to active investor.
A number of chinese stocks that are getting serious attention as they continue to pull back are LLEN, GFRE, CEU, and CNAM. The following apears to be the price ranges that smart money can't resist:
CEU - Under a buck, anything over that price (at least now and at least until the restate their earnings is much too risky).
GFRE - Mid to lower $3 range. This is perhaps one of the more confusing stocks as its jumped on upgrades, but smart money just cashed in on those runs, no one stuck around.
LLEN - Similar to GFRE, Mid to lower $3 range, but this too is a difficult stock to read.
CNAM - Under a buck (maybe even lower), anything more in light of its recent earnings and outlook, this has got to look dim for them. Still think the future looks bright for this stock, but with the economy the way it is, the turn around story continues to get pushed out.