The Turning Point
posted by The Traveller on Saturday, October 02, 2010
Now... have you been hunting some bargains this week? The 20 U.S.-listed Chinese stocks that I have introduced last week (Don't Be Afraid) have gained 9.61% in the last five sessions. That compares to a small loss for the S&P 500 in the same period.
Some of the largest gainers were Gold Horse International (GHIID, 37.38%), Gulf Resources (GFRE, 25.19%), China MediaExpress (CCME, 18.27%), Huifeng Bio-Pharmaceuticals (HFGB, 18.09%), Tianli Agritech (OINK, 15.95%), New Energy Systems (NEWN, 15.83%), and Longwei Petroleum (LPH, 15.65%). None of these stocks are expensive at current levels, with a confirmation of the sentiment change in the next 1-2 weeks they could run much further from here.
Gold Horse International (GHIID) is currently trading at $4.30, up 19.44% for the year and comfirming the September 14 high. The Trading China Tracker Score is 14 (Strong Buy).
Gold Horse filed their FY 2010 annual report after the close on Friday. After doing a bit of maths, adjusted fully diluted earnings per share for the year add up to $4.03. Even after the 37.38% PPS appreciation last week the stock is still available at a trailing P/E-ratio of 1.05.
NF Energy Savings (NFECD) is currently trading at $6.25, down 40.48% for the year and from the March 9 high at $10.50. The Trading China Tracker Score is 6 (HOLD).
NFEC common stock will be listed on Nasdaq next Monday, October 4th. The company has not issued a press release for this important milestone in their history yet, and the stock has not run up in anticipation of a big board listing. Keep this on your watch list for Monday.