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Instead, I bought C $25 Calls. Certainly not as high risk/reward play as the WB puts, but might be worth a gamble. If Citi gets WB at $1, I think the WFC bid proves that Wachovia is worth much more. It would shoot C stock up significantly.
Cut me some slack, jack! Chump don't want no help, chump don't get no help. Jive ass dude don't got no brains anyhow.
Still holding my WB calls that I picked up at .60 I also bought 1,000 WB shares at 1.75, but sold them this AM (way too early at 2.45). WB is now trading at 3.10!
Why not just buy the gold bars? They're not "collectible" like coins may be, but are usually sold closer to spot prices than the coins. They probably represent the best bargain if you just want to hold physical gold.
FKWL is significantly undervalued. I just can't see why there's not the least bit of interest here. That said, its just so darn illiquid. I don't think many investors want to get stuck in an illiquid stock in the current market regardless of solid performance.
There's also a sell order for 23k shares at 1.60 right now, so the price is capped for the short term. Oh well, I was expecting this report to push the price back above $2/sh.
FKWL - Q4 eps of .06 if I'm reading this correctly. Haven't sifted through the details of the report yet, but total eps for the year was .30 (vs .10 in 2007). Currently trading at 1.60.
Physical Gold
Good morning. I'm embarrassed to say, but I think I've been reading the VMC Free-For-All board too much and listening to Rogue's conspiracy theories and "doom and gloom" prophesies. Ugh. While I've always been very bullish on metals and the markets in general, I haven't been buying physical gold, only gold miners and an ETF or two.
While I'm still optimistic that the US will turn-around and that this is just another cycle to work through, I think my steadfast optimism is starting to crack ever so slightly, so I want to diversify and buy some physical metal to stash away for a rainy day. Call it peace of mind.
Anyway, I'm wondering if/when the $700b bailout takes place, if it's going to short term weaken gold prices, or if gold prices are going to explode with the expected weaker dollar. I can kick myself for not buying when gold weakened into the $750's per ounce just a couple of weeks ago. What do you all think will happen to gold when the bailout plan is passed? Trying to decide if I wait for a good entry point, or suck it up and buy at $900/oz. Also, any suggestions on a Co to buy gold from? I was looking at Monex.
Thanks!
ACDQW - I still haven't listened to the call from yesterday. What is their target date for closing the transaction? I'm sure this will gather momentum as we move closer to the "close" date.
DSL - Sweet! I sold my calls for $1, for a nice gain from my .50 purchase price! I was tempted to hold a bit longer, but didn't want to push my luck. Even with all the short covering and potential upside near term, this could drop fairly quickly if/when the short ban gets lifted next week. Always nice to lock in a profit :)
DSL - I'm still holding those Nov $5 calls. I tried to take profit when it hit $1 yesterday, but didn't get my order placed in time. Looks like today might be another roller coaster. It's currently up 20% in pre-market to 4.45
I'm looking for an exit, so hopefully will get the opportunity this AM.
Nope, I actually have XLF $23 Oct calls that I bought at .28. I was kicking myself for not unloading them for $1 or more on Friday, so maybe I'll get a second chance!
DSL - Nice. I sure wish those Nov $5 calls would move with it. .60 still seems cheap with the current sp move (touched 4.16)
FMGQW - Yep, I tried to grab some of the .05 shares as well, but wasn't willing to go up to .10. That's after I sold all of mine at .35 at the open.
Oh well, hindsight is 20/20. At least I cashed in on the .35 shares before the drop.
ACDQW - I wanted to, but just got out of a meeting a few minutes ago. I was planning on listening to the replay this afternoon. What are your thoughts thus far?
FMG - Thankfully I was able to sell my 10k shares this morning at .35, so I ended up breaking even on this one. I guess that's just the risk you take with these acquisition companies.
Now that the warrants are down to .05, I'm tempted to buy mine back. Eventually they'll find another acquisition target, so it might be a good hold and mold play.
TOL - I think that will turn out to be a good call. I'm shocked that Toll Brothers has been able to stay in the mid $20's with its debt load and an overall crappy housing market. Evidently some big players want to try to keep it up. Still, unless the market does a complete turnaround, the facts simply are that TOL is going to struggle to stay afloat or at least to minimize losses. I'm just biding my time waiting for some of the hedgies to smell the blood in the water and send this one down to the bottom. I'm surprised it hasn't happened yet, so no guarantees, but I think this has to drop eventually.
Thanks Stanley. I picked up some at .25 as well.
FMD - I'm tempted to buy some Oct $5 Calls for .20, but don't know that there's any positive news (other than the no-short list) that will cause the SP jump that much in a month. I expected a nice pop this AM, but it's only up 6% right now.
Nice gain on the XLF calls ($0.08 to $3.00). I'm holding some October $24 Calls I bought at $0.28, so I'm hoping they move into the money as well. They traded over $1.00 today, so if we can have one or two more strong financials days, I should find a nice exit point.
Another is CITI Group (CIT). It's not on the short list, but was dropping like a lead balloon yesterday and touched the $4's at one point before the announced $500m cash infusion from Wells Fargo.
If the financials start to cool due to bad news, etc, you can bet that the shorts will start to gang up on CIT. It's currently flat, but I'm keeping an eye out to see if there's any kind of short attack coming.
E-Trade problems as well. It's working, but moving a bit like web browsing was in the old days with 28.8 modems. The transaction volume is just through the roof this AM, and I think it's slowing down all the brokerage houses.
It might be a good time to invest in some online brokerages. This wild market has just GOT to be bringing in incredible transaction volumes.
HLS Systems (HOLI) signs another Rail contract in China. They continue to nail down rail contracts. If only they could get started on their Nuclear control systems and start recognizing revenue there as well.
HLS Systems International Announces Signing of $29.3 Million Control Systems Contract for the Guangzhou-Shenzhen High Speed Railway Line
Thursday September 18, 7:00 am ET
Project to Commence in Current Quarter; Expected Completion in Mid-2010
BEIJING--(BUSINESS WIRE)--HLS Systems International, Ltd. (Nasdaq: HOLI - News) (“HLS” or the “Company”), a leading provider of automation and control systems for the industrial, rail and nuclear power sectors in the People’s Republic of China (PRC), today announced that the PRC Ministry of Railways has awarded the Company a contract for the design, construction, implementation, and maintenance of a new 300 kilometer per hour high speed rail line. This is the second high speed rail line contract awarded to HLS in the past two months.
This project was awarded to both HLS and Hitachi, Ltd., with HLS’ portion for the control system totaling to RMB205.2 million, or approximately US$29.3 million. HLS will begin recognizing revenues upon the commencement of the project in the current quarter, with expected completion by mid-2010. When completed, this rail line will span 104.9 kilometers, or approximately 65 miles. The line will connect the cities of Guangzhou to Shenzhen, both of which are located in Guangdong Province in the southern part of the PRC and directly north of Hong Kong.
Dr. Wang Changli, HLS’ Chief Executive Officer, stated, “We are very pleased to be awarded our second high speed train contract in the last two months, which we feel is a testament to our high quality proprietary design, performance, and competitive position. We are one of only three domestic companies that have the capability to provide automation control systems for high speed rail networks and one of only two domestic companies able to provide these systems for trains with speeds of 300 kilometers per hour or greater. This rail line is of particular interest because it connects Guangzhou, the third most populous metropolitan area in mainland China, with Shenzhen, the second largest port in mainland China. We have great confidence that the progress we have made in our rail business will continue to produce additional contract wins.”
CEG - I was looking to buy some options, but thought they were overpriced for Oct at this point (considering it touched $16 today). I also came close to buying some shares at $17, but have been burned too much in the financials area of late, so didn't want to see another collapse simply based on CEGs credit woes.
Turns out I should have bought since it has recovered to above $23, but I've been consistently making the wrong decisions of late, so it doesn't surprise me.
FMGQW - We're only 12 days away from the shareholder meeting, and the warrants are available again at .23. Any thoughts on if this deal is still a good bet or if it's a little more shaky now (possibly due to the insurance/financial turmoil of late).
Any buyers here today? I'm very tempted, but don't have much cash to throw at them right now.
ANVH - If it's the typical P&D, I imagine its already printed its high for a while. I'd get out while the getting is good. I got out a while ago for just about breakeven, so congratulations on your double! Probably not the best stock to get greedy with though unless you really believe that this is a legit, undervalued business.
ANVH - Wow. It's amazing how a company even as scammy as ANVH can have a nice momentum move. These are the types of plays that can really pad the account if you get in early enough. Though it will come crashing down hard at some point. Too risky for me, though I dabbled a bit at buying FRE a couple of weeks ago, so I guess I have somewhat of a stomach for it.
Penny ~ You seem to be very clued in to these small cap r/m Chinese stocks. I'm sure you've mentioned it before, but what are your favorite short picks that still might have a ways to fall (well...I think you'd tell me that they all will fall to $0, but are there any that are more transparent or "fishy" than the others that still command a decent market cap)?
I currently own 3,000 shares of HOLI, which is my only China play at the moment. I want to believe that the future is bright for HOLI, and infrastructure build-out seems like a great area to invest. Yet, I can't say I know much about management or market presence other than what I read in the PRs and quarterlies. Does this one fall into your basket of rotten eggs?
Thanks for sharing your thoughts!
MU - Just touched $5. I also bought some $5 OCT calls (thanks for the tip) and am now up 110%. I'm hoping there is still more room to run, but I don't want to get too greedy :)
Stop Loss - Don't I know! I bought 10k shares ABK at 1.35 last month and set a stop loss for 1.05. Wouldn't you know the darn thing briefly touched 1.04 to stop me out one day after my buy, then walked up above $2 a couple of days later...then hit $10 yesterday. Talk about a bad stop loss on my part.
Nelson - re canadianinsider and SEDI - You know, I actually used to use both sites quite frequently. I would start with canadianinsider because it would list the current day's insider transactions for all Canadian listed Co's. I've never found that feature on the SEDI site. Back when Canadian stocks were hot, all you had to do was find a stock with insider purchases, discuss it a bit on a message board, and the stock would immediately pop. Ahh...the good old days! LOL.
Anyway, I would use canadianinsider for daily research of insider transactions, then look up the Co. on SEDI to see if it was a meaningful purchase, find total insider holdings, and decide if it was worth a further look.
So, I guess both come in handy. Of course, in the world of Canadian Jr's today, it sure isn't much of a catalyst for buyers anymore.
The only problem with canadianinsider is that they only show the last 10 transactions, but it probably is easier to browse than the official SEDI site.
But, SEDI will give you a tally of total holdings by insider, frequency and amounts acquired/disposed, etc.
Canadian Insider Transactions - Try this link to SEDI:
https://www.sedi.ca/sedi/SVTItdSelectInsider?locale=en_CA
BTW, Huang purchased 60,800 shares on 9/2 (filed on 9/3), then bought another 2,000 shares on 9/3 (filed on 9/3)
FRE - Premarket looks strong. I ended up buying some Sept-08 $7 Calls on Friday for a whopping .25 each. Hopefully we'll have a nice strong week for financials as I've been expecting. It'll most likely be short lived, but there seems to be a positive tone to start the week anyway.
Dell - Looking at Sept $23 Dell calls for .28. Anyone gambling on a bounce from its current $22 price?
FRE - I hope not. I've been riding 3k shares from 2.91 and think it's going to run higher into next week. While I think we'll probably see another test of lows in the next few months, I feel like it's got a stay of execution for another week or so.
Nice! I bought 13k shares at 2.95 yesterday and pondered whether to sell at the close. But, with the increased volume, I wasn't sure if it might run a little tomorrow AM or not.
In retrospect, I feel like I should've locked in profits when I could with this one. The trading range has just been pitifully tight the past month, so any opportunity to lock in a profit is a good one!
FRE - I did buy 3000 shares at 2.81. I just sold at 4.10 for a nice $3,870 gain!
Who knows if FRE will survive long term, but it was an obvious slam dunk short term play.
RIMM Puts - I'm still holding mine at about breakeven now. I'm contemplating whether to sell today and move on or to gamble on a continued decline in RIMM.
FRE - It's a lotto pick, but there are decent odds that this will survive, at least for a while. I don't think the common shareholder will get completely screwed with FRE, though it is possible.
You're probably right...it's either going to be double digits in '09 or it's going to be worthless. No middle ground to be had. I'm optimistic.
HOLI - I think we need a little more PR here. Down to 5.88 today. Seems like a deal to me, but the stock certainly has been weak lately (along with most Chinese oriented stocks). Not sure where to call the bottom, but I think this will run in the near future.