My limit order filled.
This is a spectacular way to play China long-term. It is worth at least 48-55 a share but in this market it has been hit not by earnings (not affected) but by the overall market. This is a hedge against my shorts just in case the earnings this week don't completely devastate the markets as I expect they will. Also I will, unless the fundies change, be going long this company with high buying interest when this credit mess clears (whenever that is... no time soon...). The key support is at 40 short-term.
If it dips below to 39.5 due to horrible market earnings I'll cut my very small loss.
I do like to accumulate great stocks at low prices. Right before the train's coming in though justifies nothing more than a tablespoon of sugar (30 shares).
The other best secular China plays long-term I have come across? Feed (up huge today), NPD, recommended by 50 billion cent. (Chris).
Any railroad play looks good. I am also checking out Everbank on buying RMBs....
Also Can not ignor Agriculture stocks long-term but I would need a pullback (POT still the best stock I have found in this secto).
It will be interesting to see what happens this week. I will load up especially on TWM or QID or even SKF if this thing gets ugly enough. It all depends on the price. I am 75% CASH right now.
Positions:
TWM (medium position)
DUG (very small)
CMED (very very small)
This blog is for informational purposes only. It does not give investment advice.
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2 comments:
Jon,
Do you have any news why CMED is down so much the past two days.
Dave
Nope. As an IVD business primarily this is not a company that is likely to have ground-shaking negative news.
I've heard some say that people are trying to drive the price down to make sure that the 40 and 45 options are worthless. We are far away from the next ER so there is also scarce buying interest in this market. These are all thoughts. This has been a very very good company so far but the stock is highly volatile.
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