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EnigmaDude (97.58)

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September 07, 2010 – Comments (5) | RELATED TICKERS: WH , LPH , APWR.PK

What is it with Chinese stocks lately?  Just last week I closed out 3 of my picks that were losing CAPS points (and one that I was losing real $$ on), and today they are some of the biggest gainers.  I understand why LPH is getting a pop - they just reported earnings and upward guidance for 2011.  But I can't find any news on WSP Holdings (WH), which is up as much as 30% today.  And APWR is also up today - another pick that I just ended at a big loss!

I also noticed that WATG is another Chinese stock seeing some big upward movement.  CHNG is another one. What is the catalyst for these moves?

I get the feeling that for WH at least, this may be a dead cat bounce.  My distrust of Chinese stocks is elevated even more after today's action.  Anyone else have thoughts, opinions, or comments on this seemingly crazy market action?

5 Comments – Post Your Own

#1) On September 07, 2010 at 2:00 PM, portefeuille (99.74) wrote:

stocks that tend to drop by large amounts for no reason also tend to rise by large amounts for no reason.

(fortune cookie text)

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#2) On September 07, 2010 at 3:17 PM, JaysRage (95.21) wrote:

For APWR, Two Chinese banks committed to financing the West Texas deal.   It is one of the largest obstacles that had been in the way of that highly profitable deal going through.   I'm not sure when the information will go public, but it is currently circulating in the secondary information areas.  

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#3) On September 07, 2010 at 3:18 PM, JaysRage (95.21) wrote:

Rumor has it CHNG signed on with a big-four auditor.   These moves are not "for no reason".    There are very clear reasons for those particular moves. 

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#4) On September 07, 2010 at 3:32 PM, EnigmaDude (97.58) wrote:

port - nice! 

Jay,

I also read that CHNG just "completed" their first  nat gas fueling station (whatever that means).  Does that justify a 20% pop?  Maybe.  But I can't find any news on WH.  And when all these moves are happening on a down day in the market, it causes one to question whether the moves are real, or just a Chinese finger trap.

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#5) On September 07, 2010 at 4:13 PM, JaysRage (95.21) wrote:

With CHNG, it's all about the auditor.   Signing up E&Y is the reason for the move.....since their recent drop was all about the suspected accounting issues, yes, it's worth the current pop. 

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