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TDGI. Mgmt posted an update today on current activities. Man I hope they come thru on these financials and other matters of extreme importance soon so we can get the validation and respect we deserve.
malc
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=52697
AXPW. Bought more today at .74 and may yet get another batch this week. Quietly adding in the quiet time.
malc
Fifteen bucks in Sept 2010. I'm in strong again at 6.59 from last week. This is one of the only China stocks I trust in this current market environment.
Best of luck in your investments.
malc
MY. Share buyback?
http://ih.advfn.com/p.php?pid=nmona&article=47886199&symbol=MY
I've been holding since 09. I think with the completion of the Windstar project WNDEF will have a fair book value of around 4 bucks, and that's considering the debts incurred in building the project. For the pps to reach 7 I'm willing to hold another 2 years if necessary, but it could reach that before years end.
All depends on what kind of numbers are put up in Q3 and Q4 which will be profitable. Don't count out the possibility that PP&E proposes to buy out the entire 120MW Windstar project either.
malc
WNDEF. Q1 highlights. Will have to read in entirety later tonight.
http://ih.advfn.com/p.php?pid=nmona&article=47876585&symbol=WNDEF
CNPI. I'm leery and not going in either. Make good provisions in the 10-K do look fishy michael. I've about had it with the China R/M space. CSGJ burnt me good - instead of reporting less than stellar numbers like many have with the increased scrutiny they decide to go dark and wind up on the pinks. I thought they had "plans" to uplist as well? At least that was the old model of tricking US investors...
Plenty of other fish out there guys.
malc
CNPI. Here's a stock previously unknown to me that has garnered a bit of interest, at least I'm interested...
Knowledge is King got my interest peaked by pointing it out on the CGS board.
It's another reverse merger, but they claim to be actively seeking uplisting and the numbers are huge - If its on the up and up then current P/E is around .5
Here's a link to the 10-Q for anyone interested, I'm going to be doing more DD here this afternoon as it may very well pop if followers of KiK jump in as well - KiK has my respect and he has called some sleepers who turn into big winners in the past.
malc
http://ih.advfn.com/p.php?pid=nmona&article=47701851
Thanks bardsrman, I'm on it right now.
Go TDGI.
malc
My kids are very excited about the movie and I really hope it comes to the Little Rock area. What are the ways to request Turtle to come to your local theatres? Don't do Facebook myself but the wife does.
Suggestions and links guys? TIA
malc
I have a seven dollar LT target on the stock and I will be buying more on any dips.
malc
I got the entry point I wanted yesterday as it turned south quite violently in the AM and then reversed just as quickly when the bottom was in.
Im in MY at 6.59.
malc
CSGJ and XNYH. I'm still holding these complete dogs and therefore keep them on the index. That's my vote. CSGJ is doing us shareholders very wrong aka ENHD style but XNYH is still reporting and the book value is still at least .70 Even if they had a flat Q1 I'm not selling my shares for .047
malc
GU. Sold all but 100 shares for at 3.35 and 3.31 when it appeared that the knife was falling again, and wasn't going to recover anymore, for now.
I read the 10-Q last nite in entirety and also the CC transcript, and will read them again this weekend but it appears to me that the biodiesel segment of GU, which is at least 80% of earnings capacity, has a very unclear future not to mention the present. The copper recycling facility is cost effective, but also subject to price fluxuations and is only one of of seven of Gushans facilities. I'm not confident that the remaining biodiesel plants can regain profitability in spite of high oil prices as they now have many different obstacles working against them that were not there in 08.
I would cut and paste and bunch of these flags for y'all if interested but I think I'm the only dummass that threw a bunch of chips this way anticipating earnings. I will be watching close again though.
Anyway, heres how I allocated the funds from selling GU
Re established a nice position in MY at 6.59 when it appeared the bottom was finally in and it was climbing back rapidly.
Added to my IRE at 1.65
Re established position I sold in AXPW at .80 to bone up on GU pre earnings and took a bite. Bought em back today at .77
Have a great weekend everyone, I'm heading out to play a little dobro and harmonica, eat some BBQ and drink some beer.
malc
GU, ADXS. Bailed out of GU in one trading account and bought ADXS at .175 instead with the proceeds.
Still holding a bunch of now underwater GU. More on my thoughts about the very dissapointing Q1 later when I have time to post in entirety.
malc
TDGI. Beachman, appreciate your sarcasm as usual. Not much has changed in the thirty odd years since we were first going at it in sixth grade. Wisdom eh? Well, I don't feel so wise at the moment being as GU just busted one off in me, but its really my fault for reading the 10-K wrong, I thought biodeisel production was ramped back up for Q1 earnings but its going to be reflected in Q2. And I have yet to read the 10-Q carefully, but I did notice that raw materials costs are way up for GU, I guess no one gives away used cooking grease anymore. Hopefully the negotiations with the Chinese govt to procure a more cost effective raw material source will be productive. It took some time for them to negoiate the reversal of the consumption tax.
So, I am feeling rather ignorant rather than wise today and worse yet I set my sell wrong this morning before I left for work and still hold all shares, now underwater. However, I am not going to let it get to me, and it will creep back up. Perhaps the results I was looking for will appear in another three months lol.
Back to TDGI. I'm guessing you are asking me what my exit strategy is. Well, I don't have an exit strategy because I plan on sticking around for awhile with this stock. I am not at my ropes end. I am not selling share one. I might take a few off around .064 which would be a 2x for me. But probably not, because when it gets back there it's going to be because the fundamentals are better - i.e. audited transparency and hopefully an uplisting soon which will provide the foundation for pps growth. From there I think the pps can stay up, and I'm looking forward to the day this moves in pennies, not tenths of a cent. EP has mentioned to several shareholders that he is going to update us all on the status of these issues and other things brewing so I will be watching the OTC markets site for a filing which I believe will be in the form of notes from BOD meeting.
If you are asking me if I am getting out at .05 no way in hell. I will take my chances and hold for more being as I have been with them from the beginning. I'm either going to rise to the top or go down with the ship. But if you get out at the next green price on your investment I can't blame you because this stock sure has been taxing on the brain.
If you or anyone can tell me why EP and Fred would willingly let their 190M shares suffer needlessly and somehow still profit from this venture I would probably change my mind. I think they are working on getting this off the ground, where it clearly is at this moment, and until they start issuing shares to pay the light bills I think all is fine.
malc
GU. Very dissapointing Q1. Going to have to lighten up quite a bit and wait for the dust to settle.
Don't really have the time to dig into it right now, but I'll get after it this evening.
http://finance.yahoo.com/news/Gushan-Environmental-Energy-prnews-3765643322.html?x=0&.v=1
malc.
TDGI. I have not even bothered with trying to contact EP or Fred over the last month since its pretty obvious they are already cathcing enough flak from the shareholders.
I'm puzzled myself as well. Yet if this is the shaking of the tree I'm not letting any shares go
malc
GU. Ok here's a post to correct myself and eat a little crow.
Q1 eps of .57 surely will not be beaten tommorrow as the bulk of earnings came from a return of previous taxes paid in due to the tax reversal policy announced on Dec 26 2010.
That, and upon further revision they will not show much increased output and earnings until Q2.
Q1 will probably be meager at best, not a monster. I need to tone down my expectations, Q1 tommorrow probably just around .15
I've made some grave miscalculations, the 2 additional plants were not restarted in Q1 but Q2.
malc
GU. Ok, just brushed up on some numbers and old news which I got wrong. Thanks for the corrections Fernando. It appears that the 2 plants back online won't have much of an impact until Q2, that's from the 2010 year end CC, and that the vast bulk of Q4 eps did come from the tax reversal. However, the recycling plant did add nicely in Q4 2010 and they planned on increasing output.
Seems like a more modest .15 or so eps might be reported tommorrow. Q2 looks like the one to watch, agreed. Nevertheless, it's a solid investment for 2011 at these levels although it might not pop that much yet until the increased earnings show up from increased biodeisel production in times of high oil.
malc
You don't think that the refiring of 2 previously dormant plants for a total of 4 operational plants in Q1 will have a positive impact on Q1 eps? I'm hoping to read in tommorrows 10-Q that all six plants are now in operation. I don't think the whole .57 was from tax reversals, and there is the copper recycling facility as well adding to the bottom line. Do you remember how much of the .57 from Q4 2010 was from the tax reversal. Thanks.
malc
People in the know are adding before tommorrows earnings report. Q4 2010 smoked analysts opinion at .57 Since then they have fired back up 2 dormant plants and GU earnings are directly tied to oil prices. I expect to see monster earnings tommorrow, in which the market may come to realize that this sleeping giant is now awake again and probably carrying a forward P/E under 3. NYSE listed with KPMG onboard forever and a P/E of a small cap BB China stock with a sketchy past, and future for that matter. GU numbers can be trusted IMO.
I added this morning at 3.70 and added yesterday at 3.40
This is now my second largest holding and I'm holding it as long as oil stays high. Take a brief look a historical prices and look at the high in 2008 when oil was 100+ a barrel. See for yourself if this doesn't have plenty of legs left, even with todays 21% jump.
Oh, and it doesn't hurt that Rames considers this to be one of the safest China stocks. Me too. When the numbers of 2009 and 2010 ( until Q4 ) were terrible they did not hestitate to show the blood. Now the earnings pattern is in full reversal. And the Chinese govt rescinded the value added tax on Dec 26 2010.
Too much to like here for me not to throw a large chunk of coin at it.
malc
BEER. From the 10-Q:
We are principally engaged in the production and distribution of brewer’s malt and beer products in the PRC. Currently, we manufacture various types of malt products from a wide variety of domestic and imported barleys. Our malts are either used in the production of our own beer products or are sold on a wholesale basis to other breweries through our direct sales force. Most of our third-party malt sales involve malts that are made to meet our customers’ specifications on a custom basis. At December 31, 2010, our beer line included eight full-flavored, affordably priced beers that are marketed under the “Qinglin,” “Qingyi” or “Qingyuan” trade names to middle-class consumers in second- and third-tier cities throughout northern and eastern China. Our malt and beer production facilities, which are located in Shandong Province in the PRC, have an aggregate annual malt processing capacity of approximately 120,000 metric tons, based upon two 8-hour shifts each working day, and an aggregate annual beer processing capacity of approximately 200,000 metric tons, based upon 20 hours each working day.
We started our malt business in 2004, one year prior to the commencement of our beer business. Since the beer market has been robust in China, malt demand has increased in recent years. Shandong, the province in which our two companies in which we have a controlling financial interest through contractual agreements are located, is the largest beer production province in the PRC. We believe most of middle- and small-sized breweries in China prefer to use the products of local malt manufacturers due to the lower transportation costs associated with such purchases. After several years of our marketing and sales efforts, we believe we have established strong relationships with many of our malt customers and have established a solid distribution network for our malt products. We intend to support and grow the existing market for our malt products through increased marketing and sales efforts in the provinces in which we currently sell such products and by commencing our marketing and sales efforts in neighboring provinces. We also intend to add new malt products to our malt product catalog to help our customers meet the rapidly-growing demand for alternative types of beers in the PRC and to give us a competitive advantage in the marketplace by offering alternative malt products that are not available from competitive malt suppliers. As we add new malt products, we may adjust our product offerings to reduce our investment in certain lower-profit malt products. We also intend to focus on improving our malt production processes in an effort to continue to improve our production quality controls and to reduce production costs. Our plan for growth of our beer segment targets the most underserved portion of the rapidly-growing Chinese middle class. While the newer high-end entrants to the beer market in the PRC and the importers focus on the largest cities in China, we are focused on the second and third-tier cities, as well as small towns that are within the Chinese industrial and technology zone and so are sharing in the growing prosperity of China. We believe the middle-class population of the smaller cities has recently been shifting their consumption pattern from drinking low-priced beer to affordably priced but higher-quality beer as a result of the recent increases in their disposable income. In many of these areas, our beers are among the few available beers that are crafted from top-quality raw materials using advanced brewing technology, while remaining priced at a level affordable for everyday consumption. We believe our wholesalers and distributors are generally pleased by our “alternative market” focus, as their marketing efforts can be more effective in areas in which they do not face the intense marketing pressure common in Beijing, Guangzhou and other major metropolitan areas
Ok, I really like this business model and I should have looked at this at .17 How could I not DD a ticker like this when I drink my weight in beer daily? But it seems to me that the ticker might be responsible for the love it has gotten, that or momo, because even with the explosive growth they only reported .02 eps. Does any small cap China stock have the power to support such a high P/E as this is currently carrying? I'll be watching it closely from here for a drastic pullback and more reasonable entry. If it continues up, oh well, it does. I only buy stocks I believe are either extremely undervalued or cutting edge with future growth potential. BEER is overvalued and while the growth may be for real, the PPS is already too high for me to buy.
malc
GU. Thanks, but this is not a trade for me, this is a LT investment. Lots of legs to go on this one. Do some DD on how GU earnings are directly tied to oil prices. Check out the historical high. If oil stays high it may get back there again. In any case, this big board stock is extrememly undervalued and carries a riduculously low P/E which will be proven with tommorrows earnings IMO.
This is a NYSE stock with the bagger potential of a penny stock. I sold completely out of a position today and added more this morning at 3.70, five minutes later it was off to the races.
malc
TDGI has one little hurdle to get over and then we move up again, getting the audited financials filed along with attorney opinion letter so we can apply to uplist. Then I have a feeling a flurry of news will be released. They figured out that releasing great news without the promised filings first will get them nowhere. Still holding all shares.
Picked up more GU this morning at 3.70 just in time. If anyone is looking for a great LT investment IMO or even a ST trade watch the earnings premarket ( I think ) and watch it scream some more. Todays 21% jump is not to be sneezed at for a NYSE stock. Havent looked yet but it might be top gainer of the day. This baby has lots of legs.
Q4 2010 eps of .57 should be beaten tommorrow, perhaps by a large margin being as oil has been quite high and 2 dormant plants were put back into production. As oil goes, so goes GU earnings and GU has a historical high around 80 (adjusted for reverse split) back in 2008. This is a big board sleeper with penny stock potential of 5-10x from here.
malc
BEER. Mike, were you the guy who jokingly said a few months ago to take a look at this stock to Burp on the CGS board when it was around .17? I remember this because I love beer so it kinda stuck in my memory. However, I did not do any DD on it, probably because I was tapped out and DD with no free powder is like window shopping while broke to me.
Well, it's already had a hell of a run as of late. Do you think this still has legs and do you have skin in the game here? I hope it was you who mentioned it around .17 and I hope you snagged some up.
malc
Yip - Not familiar with all these stocks but I really do like SLV sub 35 and its making a strong move already in pre market. Those calls could really work out for you, could be over 40 again end of week.
malc
GU. Are any of you guys loading up either the common, now at 3.49 or any of the calls? Q4 2010 earnings were .57 and it got some love on that result but has slipped back dramatically, even lower than it was before. Bear in mind that back in Jan, I believe, they announced they were firing up two of what were 4 dormant plants after the Chinese gov't reversed their tax position and oil prices were back on the rise. So in Q1 4 of 6 plants were producing, perhaps the refired two plants at limited capacity. Q1 earnings coming out Thursday could be quite surprising and this is one company whose numbers can be trusted IMO, they were not hesitant to announce terrible numbers in 2009 and 2010, yet they stayed solvent with a strong cash position built up and even diversified by purchasing debt free a copper recycling facility which will add nicely to earnings.
Regarding GU I really can't figure out why they are not getting any kind of love whatsoever. It's my deep value play in China that I still have faith in.
Am I missing something here? Those Dec 11 2.50 calls seem like a great investment to me and I'm considering grabbing a handful tommorrow before earnings. I've already been loading the common as much as possible under 5, and even more so anything under 4.
malc
AJGH. Reports Q1 earnings of .07 and the stock is selling for .40
Suffice to say, every small cap China company is pretty much considered a fraud in the current market consensus.
Bought more GU today at 3.40 and looking to add some more tommorrow moving into earnings.
malc
GU. I forgot to change my earlier loss numbers for 2009 or was it 2010?... No matter, they were both dismal. But last fall GU went thru a 1 for 5 reverse split to keep NYSE min price requirements so I should have stated they lost around 2.40. Only point being is that when times were dismal they said so straight up instead of doctoring the books which so many China stocks have been found guilty of lately. And they diversified, shut down 4 plants to save money, and stayed solvent.
I made really good coin on this investment from 2008-2009 and got out when it became obvious that oil was falling rapidly and subsequently their earnings would as well.
I've been back in since last fall, adding when I can, and adding before Thursday some more. I'm going to make good coin on this again, I've been following a long time now.
malc
TDGI. Jason Gigolo, as he goes by on Ihub, posted today a little about his visit last Friday with Fred and EP. We became fast friends at the SH meeting in January, being of similar mind and style.
Bottom line is that mgmt is promising that the posse is one the way concerning the matters which all of us longs have been griping about for sometime, and either relief is on the way soon or mgmt is bold faced lying to a large shareholders face. I tend to believe the first assertion because I cannot see how mgmt can profit at all without significant eps appreciation. They own a ton of stock, are not diluting to pay the light bill like so many pinks, and have excellent strategic partnerships coming to light.
The ad in Nat'l Geographic only backs up the prior claims that Sea World Productions is not going to skimp on the release P&A. I expect to see a PR soon further clarifying the scope of this partnership. I also suspect that alot of news is being backlogged because mgmt has finally learned that all the great news in the world is not going to move this much until the audits are filed and applications for uplisting announced. Why waste any more good bullets (news) until all this is finally becoming very close to being a closed chapter in the brief public life of TDGI.
Holding strong. Might even average down a bit but I already have a huge portion of my portfolio in this pink. And I will even admit it.
malc
Yip - I hope you are going to teach me what you know about options, or what you will be gaining experience on in short fashion. Not to stroke your goat, but you are already way ahead of the curve IMO for a 25 year old trader. Best of luck in your options plays.
Depending on whether or not I decide to open a margin account I may get some GU Dec 11 calls 2.50. Bid and ask currently 1.25/1.45. But then again the common is plenty cheap at this moment. In fact it is so cheap the only reason I can believe it is this undervalued is because of the black cloud that not only hovers over, but has engulfed the China space. But GU is not your typical China stock, they have been around fraudless for a long time now, trade on the NYSE, audited by KPMG which only has one black eye (CBEH) and they dropped that dog when they realized they were being bamboozled just like us investors. In 2009 GU reported a staggering loss of 12 bucks a share and yet they remained solvent thanks to great manangemnent of a hoard of cash built up in times of peak oil. Well, guess what ppl, oil prices were very high last Q and likely to remain above 3.50 US average for the rest of the year IMO. Only when oil falls back dramatically is their ability to produce at profit affected. I know I have pounded the table on the play enough so I will end it here. But I just want you who are looking for some serious value to consider the elements and look at earnings for Q4 2010. Smoked analyst opinions, and will smoke em again on Thursday IMO. The copper recycling plant they bought last year to diversify and hedge is adding to the bottom line. Just click this link and look at where earnings are heading again and figure a 2011 EPS for yourself. I'm going to throw out a minimum of 2 bucks, and thats a bare minimum. I know they had 4 of 6 plants running biodeisel production in Q1. I hope to see in the thursday Q that all six plants are running again. Number 7 is the copper facility. Oh, and by the way, all their assets are paid in full, they are debt free last I checked.
malc
https://trading.scottrade.com/quotesresearch/ScottradeResearch.aspx?symbol=GU
Here's the bottom line because I just realized that Scottrade research link probably won't work for y'all,
On 3/30/2011, GU reported 4th quarter 2010 earnings of $0.57 per share. This result beat the $0.46 consensus loss of the one analyst covering the company and beat last year's 4th quarter results by $1.36.
The next earnings announcement is expected on 05/26/2011.
Earning in 2011 will likely be above 3 bucks in my opinion. What kind of P/E can this China giant command is the kicker. Regardless, this is not a under 2 forward P/E IMO. Option players could make a killing on the Dec 11 calls if they get in before Thursday. But then again, I remember a few of you bought some calls earlier this year and it has still gone down even after that .57 eps Q4 2010.
All I know for sure is that I am accumulating common for a long hold and I will get more by hook or crook by Wednesday. And Rames, at Trading China, ranks GU in handful of most trustworthy China stocks FWIW.
malc
XNYH. 10-Q finally out. Earnings? Lost under a cent it looks like. Last year March earned .02
Not sure what to think about this company anymore. I'm still in, but they sure don't do much of anything to provide any kind of company guidance and PR's regarding company developments have been pretty much non-existent as of late.
Gonna have to decide what to do with my little stake. Ask was at .07 all day, seems someone was willing to get out with that probable loss.
I'm not ready to pull that trigger yet. Need to read the 10-Q in entirety later tonite when I have time.
malc
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7952548
Yip - I think maybe you got it backwards man, you are the guy making a living from the market, we are just some knucklehead investors, at least I know I am for sure. I try to do the best DD I can before getting in something but honestly I know very little about T/A. I do find it fascinating though, and have been starting to learn.
Thanks for your input and I will try to keep you posted on the developments with your stake in TDGI since I know you have an investment here with some of us.
I'm going to do some DD on CRM and see if I can figure out why you are excited about it.
Best of luck in your daytrading.
malc
OT. Preakness Stakes.
I hit the Kentucky Derby exacta with a box of Animal Planet and Nehro.
With both of these horses the likely favorite and co-favorite, I will be looking for longer odds and better prices than these two would return.
I'm going with the third and fourth place finishers in the Arkansas Derby, 8, Dance City and 6, Swept Away. Both should be fresh for the Preakness and this should be an ideal distance for both. Swept Away should have rated instead of setting the pace for the Arkansas Derby and could really surprise if stalking as opposed to setting the pace.
See if I can dial this in any better than US listed China stocks lol....
malc
BWOW. The warrant situation is definetly something I will be keeping an eye on. Could be very lucrative indeed if they extend the expiration date, although honestly I am clueless as to how they could/would be amended. Cancel old warrants and issue new ones? Perhaps a contact with IR could clarify?
That said, I'm selling everything at the bell this morning and going on a hella bender starting in about an hour. After all, tommorrow is the end of the world lol....
malc
NEWN. At 3.65 currently and just reported Q1 earnings of .44, full year 2011 could be around 1.70 so this once loved big board China stock is still just a forward P/E of 2.2 or so? Jeez, I wish we could buy back some of these with a semblence of confidence again...
NGLPF is one that I have owned on and off and looks to be on the solid rebound path again. It's .26 and should retrace to around .50 or so easily IMO, probably in relative short fashion. I need some powder to load some before it gets past .30 again. Next Q should show the first positive EPS ever, and I have seen too many times what this can do to a US green energy stock. I owned ACPW for years gathering shares under .50 and as soon as they turned the earnings corner it shot above 2.00 in no time at all, at which point I got out when I felt it was fairly, if not overly, valued.
AXPW is going to turn that corner in 2011 as well if other catalysts don't drive it up before that. Not too long ago it tested 1.20+ and I think it will again soon. I have been adding and added some more at .79 earlier this week by scrapping a failed China position for a whopping 300 bucks.
malc
Alright is my man Yip onboard? How's the highlife of a lower Manhattan trader treating you lately? Did you get LinkedIn today and hooked smoothe up lol??? That was some kinda IPO... I bet many are looking for shares to short already but never underestimate the power of the momo to drive stocks like this to ass crazy valuations IMO, see YOKU for example.
I know you followed me into some TDGI but don't string up the tree yet. Actually it's a great time to average down a bit IMO because good things are brewing and I'm keeping the faith in that mgmt will release financials soon and prepare to get off the pinksheets. Of course I also said this about many smallcap US China stocks lol....
Give us your plays if you don't mind, I know you mostly swing big board style but I'm very interested in checking out your option plays. My GU reports next Thursday and between now and then I am going to check out what contracts are available. I haven't looked but I bet the calls look attractive to me. The common sure is damn cheap right now and I have been adding whenever possible.
Seeya around on the board and come October it's feral hog killin and King Biscuit Blues Festival time for us eh?
Your Bro,
malc
VSUL is a Harley stock I am keeping on my radar. I'm thinking it is in the strike zone right here. I was reluctant to buy it awhile back at .50 with the little powder I had available and bought more ADXS.
Honestly, if not for so much tied up in TDGI at the moment combined with the fact that I can't take anything else off others, I would have bought some TYTN last week when I saw the momo building, crazy sub penny with a crazy share structure or not. It got red hot on the radars again and took off. Sorry I missed that one, but I'm no flow Joe at the moment. Construction is still just at the point where I'm lucky to be solvent myself, and no extra cash to pour into any coifers. I'm in a pickle, hell, I am a pickle after about 3 years of this economy as such. It's a rough time for US listed China and US Construction lol..
malc
northern - First off let me say thanks for moderating this board and doing your best to keep us updated. It's been quiet around here at times and that's because none of us really had anything to add or discuss any further I suppose. Hell, we still don't have a 10-K to read and that's a whole years worth of goodies to decipher. No Q1 2011 of course either. In retrospect, the fact that they were so eerily quiet and still are should have been a red flag for us. But I know that alot of fine intelligent investors have been burnt by all forms of fraud and negligence that you can concoct in your mind all over the China sector, not just the BB stocks. I've taken some nice big board hits courtesy of CBEH w KPMG as auditor so when that happens who knows what to trust.
I have seen a trend develop since the scrutiny of auditors and numbers has become one of the main games since the shorts pretty much took the sector over. Many companies, including CSGJE, have either been reporting very weak (probably honest now) numbers or not reporting at all. Suggests to me that likely all these numbers were fraudulent in the past and we were led to believe we had a value play. As much as I hate to admit it, smart money stayed out and smarter money went short in so many China stocks across the boards it made my head spin and this is the first year ever I have gone in the red.
Time for introspection, I have already shifted gears months ago, but this was one I kept my entire large position in much to my detriment. Wish I had pulled the plug like I did on ENHD where I luckily got out in two large blocks at 1.75 and 1.70
malc