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Thanks, Davidam.
I'll do some checking and see if I can find out the current history of the short position.
Not sure what current short position is but I do know it was getting shorted heavily when it fell into the 8's. I think its trading well now. After it fills the gap (if it does)this is going to take off. It won't move up big all at once I give it a month tops for more significant gains
Sure appears that way. It's been a real impediment to upward movement,I think.
Did you notice that financial information updates are to be given by the company at the conference this weekend, as per their recent pr release?
Do you, by any chance know WATG's current short position?
Thank you.
Gap looks like its trying to fill
I predict within the next month this is trading in the teens again or close to it. We will see...
I wish then I could double my position. Wish I had through another 35K at it in the 8;s
Fortunately we may see the 8's again my friend. Not a good feeling here IMO
My experience is that gaps very rarely do not fill at some point. Time will tell. As pointed out, we certainly have the technical momentum going for us and the fundamentals remain strong.
I still think our recent downward damage in the mid $13. range, was primarily the results of Cramer's tv comments, taken by so many, will result in sheep to slaughter. The effects of Cramer's comments are all played out, imo, and it's definitely time to re-enter or add to one's WATG holdings.
A good chart person told me don't be shocked if we don't fill a gap in the upper 9's maybe as low as 9.70. Then up from there. I don't know about that all I see is this thing is going to move up significantly in the short term imo
I see it Davidam.
That's one of the reasons I posted that I feel WATG is done correcting and about to explode on the upside.
Thanks for your input.
Check out the charts a golden cross is imminent. This thing is going to explode north soon, weeeeeeeeeeee
the 8's look so sweet : )
WATG is clearly way oversold and on the rebound to new and higher levels, imo, especially with earnings pending.
WATG has received FOUR very positive recommendations recently, three BUYS and one OUTPERFORM from major houses, with $15 and $16.level targets.
Clearly time to take or add to a position, imo.
This is a quality company adding new items to their product line. The rural Chinese people, relocating to the urban center in groves, are massively buying autos, so the demand there and in other places in the world, supplied by WATG, remain robust.
Good luck.
Hurry now cover them shorts or you will be holding da bag real soon lol
WATG looks like its ready to move. Cover those shorts hehe love this stock!!
This is looking good. A golden cross is not too far away too
After nine days of caution, American Bull.com, tonight issued a BUY CONFIRMED,given WATG'S recent trading stability and upward bias.
Looks like we may have turned the corner and will be moving up.
Perhaps we've turned the corner on the downward momentum. We seem to be forming a base around the $9.00 range. IMO, this is a very attractive current entry point, given the companies fundamentals and recommendations from major firms recently.
OT: We sure miss the good old days of when WATG had nice percentage moves, and usually upward on it's way to the $15.00+ level, given it's strong fundamentals. A combination of unexpected forces we've talked about already have temporarily stalled our upward movement, imo.
In the meantime, for those itching for some leveraged action, given the continued upward move in oil, take a look at a penny start up, TECO, (Treaty Petroleum).
The appealing aspects for me, is their purchase of thousands of acres with abandoned, but once producing wells, which they are now actually starting to produce profitable oil from. And more acquisitions in the pipeline. Leverage and a sound business plan are the name of the game here, imo, while WATG sleeps awhile.
Agree 8's were a gift and so is its current share price. Seen more volume today may be the start of a turnaround. They shorted this when Toyota began having trouble
I agree farviewhill. I have been loading up. WATG in the 8s is an absolute gift.
WAY OVERSOLD, imo, especially given the impressive fundamentals. Since January, WATG has received THREE positive recommendations from major firms: two BUYS and one OUTPERFORM.
WATG, imo, got caught up in Jim Cramer's tv push for american car companies as well as some recent weakness in the Hang Seng Index, but WATG will show a dramatic rebound quickly to the $13.00 to $15.00 level, on it's way much higher by the end of the year.
Time to buy at these depressed and support levels, imo.
It's buying time with the mid term in focus for another great trade
going to buy tomorrow any weakness from there will add
what a steal!!
This is in an area where its a buy. Would not go all in just start collecting on dips and begin with a small position. This company is still worth $20.00 a share imo one day its going to make it. How long who knows but it trades beautifully and now looks like the time to play
yeah I took profits today. market makes me too nervous to hold a large position.
took a relatively small position will add on any weakness
I still haven't pulled the trigger only because of the Toyota news I am expecting this to get oversold. How oversold is anyone's guess going to read the latest filing tonight may enter tomorrow
glty
bought back in today. seems to be finding bottom.
looks like the news that Toyota suspended its plans to build 8 cars hurt this stock. usually this level on the charts is a great buy may want to wait until it settles more
nice start..up from here
20.00 looking more and more likely. Just a good solid company here, right products right time
This is just a monster it should see a share price over $20.00 one of these months
Jinzhou Wanyou Mechanical Parts Co., Ltd, spent US$12 million in acquiring 100% equity of Friend Birch (Friend Birch Limited (Hong Kong)), including Friend Birch's rods and shafts technology development center, technologies and patents and two wholly-owned subsidiaries, which produce automotive mechanical springs, gas springs, and gas spring rods and shafts, etc.
Wonder Auto Announces an Acquisition for $12 Million in Cash Transaction
Press Release
Source: Wonder Auto Technology, Inc.
On Wednesday September 23, 2009, 8:00 am EDT
Buzz up! 0 Print.Companies:Wonder Auto Technology, Inc.
JINZHOU CITY, China, Sept. 23 /PRNewswire-Asia-FirstCall/ -- Wonder Auto Technology, Inc. (Nasdaq: WATG; "Wonder Auto" or "the Company"), a leading manufacturer of automotive electrical parts, suspension products and engine accessories in China, today announced that one of its wholly-owned subsidiaries, Jinzhou Wanyou Mechanical Parts Co., Ltd, spent US$12 million in acquiring 100% equity of Friend Birch (Friend Birch Limited (Hong Kong)), including Friend Birch's rods and shafts technology development center, technologies and patents and two wholly-owned subsidiaries, which produce automotive mechanical springs, gas springs, and gas spring rods and shafts, etc.
Friend Birch Limited (Hong Kong) is engaged in designing, manufacturing and marketing automotive springs, gas springs, gas spring shafts and other thin mechanical shaft products. Friend Birch has built a substantial customer base in Chinese and European OEM and after markets. The acquisition of Friend Birch's R&D center will enhance the technology, improve the quality and increase the variety of our rod and shaft products, which will contribute to the achievement of the company's strategy to increase its market share globally.
Mr. Qingjie Zhao, Chairman and CEO of Wonder Auto Technology, Inc. commented: "This acquisition will bring us about five million in extra capacity, which will greatly ease the pressure of our limited capacity at the moment for our rods and shafts. It is forecasted that this acquisition will provide us with an extra net income of two million dollars in the next 12 months. What's more, we achieved this acquisition by our own capital and this currently demonstrates that we have a healthy cash flow that satisfies the capital needs for our daily operating and expansion activities."
About Wonder Auto
Based in Jinzhou City, Liaoning, China, Wonder Auto Technology, Inc., through its Chinese subsidiaries, designs, develops, manufactures and sells automotive electrical parts, suspension products and engine accessories. Wonder Auto was ranked second in sales revenue in the China market for automotive alternators and starters in 2008. With respective 5 different series and over 230 models of alternators, 150 models of starters, various suspension and engine related parts, the Company supplies to a wide range of automakers, engine producers and auto parts suppliers both in domestic China and overseas. Wonder Auto's main customers include Beijing MOBIS Auto Parts & Components Co., Ltd, Harbin Dongan Automotive Engine Co., Ltd, Shenyang Xinguang Huachen Auto Engine Co., Ltd, SWT, Shenyang Aerospace Mitsubishi Motors Engine Co., Ltd., Shanghai VW and Weifang Diesel Engine. For more information, please log on http://www.watg.cn .
Safe Harbor Statement
This press release may contain forward-looking information about Wonder Auto Technology, Inc. and its wholly owned subsidiaries which are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, statements about industry trends and Wonder Auto Technology, Inc.'s future performance, operations and products. This and other "Risk Factors" are contained in Wonder Auto Technology, Inc.'s public filings with the SEC. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.
For more information, please contact:
Sun He
Investor Relations Officer
Tel: +86-10-8478-5339 +86-10-8478-5339
Cell: +86-153-1161-1742 +86-153-1161-1742
Email: sunhe@watg.cn
Yechon Xie
Investor Relations Manager
Tel: +86-416-266-1186 +86-416-266-1186
Cell: +86-137-0006-1685 +86-137-0006-1685
Email: ycxie@watg.cn
This looks to be taking a healthy retrace. Still going to be a $20.00 plus stock one of these days
Hi... I'm a WoodChuck in Maine lurking....this board is quiet...I'm picking up posts on yahoo byddf board...interesting. I'm into BYD and Gelly. I'm jumping into WATG with a tiny position tomorrow.
Looks like it will kick up a notch as BYD has increased auto production and SP booted up today +6%.
I watch Geely (0175.HK)and BYD (1211.HK)on the Honk Kong
exchange....and I have a small position in Geely and BYD in the risky USA pinkie market (volatile.)
davidam....are you still into WATG and are you the moderator?
FWI...I don't post much.
WoodChuck
Yes what a run. If you look at the filings WATG was heavily undervalued and only suffered because the auto industry was suffering. It was taken out on them too. Its probably a 10.00 plus stock. Actually before the recession I was thinking 20.00. When I stated it was overbought looking was from a technical standpoint only
gee i guess the market didn't think it was overbought..
from your post on April 4th it's made quite a move.
I'll add this one to my auto sector watch list.
maybe something's cooking here more than a value recovery ?
radar
hopefully the market responds to the great 10k. Right now all stocks are being dumped
As expected, a great 10K. Now who was tricked into selling this ?
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