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I'm with you bpk, something is up. Sellers are taking it easy today, in my opinion because it is a down day on the overall markets. This should be bouncing but it is not. I ate my losses in the $2.70's, but expected to buy back for the usual CHCG bounce, but it isn't happening today. I think there is more downside here.
I have the balls, but they are starting to hurt...LOL
This mornings action is good evidence to me that there is a large short position out there. After the run up in the first 15 min, someone attacked the bid with a bunch of 500 share trades. If this was shell sellers trying to unload shares they would have been able to get rid of alot more if they sold into the rally in the first 15 min, instead of waiting until the volume dryed up, which is a classic short strategy. I have also noticed that our big buyer, using the MM JEFF, is off the bid and has been for a week now. Without his support we would have been under $2 a long time ago, which is where I'm afraid we are headed now unless something material news whise happens soon.
bpk, what price are you averaged in at? I am in for about 15K at $3.00 with enough cash to double down at this point. I haven't acted yet, she looks like she wants to go down for the rest of the week and bounce sometime next week but I just cant believe that this can go below $2.65. However, the market hates China right now, so it could happen.
I bet the overall US markets will retest their bottom of a couple weeks back. If they break through that we could be looking at DOW = 10,000. Every week there seems to be news of a large company laying off thousands of workers. Today it was Macy's ( http://biz.yahoo.com/ap/080206/macy_s_changes.html ). Sound like a recession to me.
Ouch, bad timing this time. What price did you buy at? I bet I sold you the shares :)
I agree, however I started making small buys today. Whoever is buying all of these shares using the MM JEFF is accumulating one hell of a position. Once he has his fill of shares he will have the power to send us much higher. Also, if the company puts out new guidance (which should be excellent, I am still predicting $0.80 for '08) we will shoot back to the $5's in a matter of days/hours. Most of the down side is down. I took a 10% position at $3.15 and will make pyramid buys as she goes lower.
On a different note, check out PWRM.OB. Stock is only at $0.12-$0.13 so read into it before you judge. They have amazing potential in the cancer and brain disease diagnostics sector. They are just now moving their products to market and have recently been on Fox News, Popular Science Magazine, and Women's Day Magazine.
I'm looking for it to drop alittle before picking up steam again. Possibly back to the $3.50's but I don't think it will be allowed to drop much more than that. There is definitly at least one big buyer out there now using JEFF, buying up alot of shares and supporting the SP. If any of the pending news concerning raised guidance hits the wire we will see some nice movement. However, after being punished so severly the second half of '07 because of missed earnings, I think the company will remain conservative. We may not hear anything until the 10K 3 months from now.
Hope you guys loaded up! I know I did. I doubled down on my position in the $3.20's. Todays news changes the fundamentals of CHCG. We are looking at NAZ listing and EPS nearing $1.00 in '08. GLTA
I agree. Once the 144 shares dry up we will easily break the highs we saw last summer. I am feeling good about this one. Todays news is huge, do some DD on Carrefour. This deal will bring in some serious $$$$
I didn't buy at all today. I bought most of my shares a few days back under $3. And then more yesterday expecting it to continue to run today. I am usually good at reading tops but totally missed this one. I held all the way back down.
The news looks good I may buy even more now.
wow, what a total a$$ kicking I just took. Didn't see this one comming.
XKO just raised their EPS for Q1 '08 to $0.20. WOW!
I told myself that I was going to buy under $3, I very much wanted to buy today but decided not to. There was support at $2.90 yesterday and most of today, but the seller did not let the PPS move much above $2.96 and finally broke the support @ $2.90 a few minutes before close. Next solid support should be around $2.65. This is ugly, I can't believe how low this is trading for. The company will make about $0.48 this year and over $0.60 next year without knowing how much the recent distibuition deals will add in. The forward P/E is under 5 right now!! Hard to believe that only a few months ago the stock was trading over $8.
I think it is a pretty clear case of tax selling. Micro caps in generally are getting hammered, normal for this time of year. I am hoping for this to go below a buck as well. Hopefully the company will start turning a profit, even with APPCO oil I suspect they will still post a loss for Q1. I am not going to try and pick a bottom though, I will buy when the trend reverses, plenty of upside if they prove out their buisness plan.
The news was out around 1:45PM ET today. If it was going to have an effect it would have happened today. I think we may test $3.00 again.
I like eveything except for the price action. Getting killed right before close. Apparrantly, alot of people bought the news expecting a run, and are now dumping before the close.
Big News! this could do it!
China 3C Signs Letter of Intent to Become Exclusive Supplier for a Leading Chinese Online Electronics Retailer
ZHEJIANG PROVINCE, China, Nov. 28 /PRNewswire-FirstCall/ -- China 3C Group (OTC Bulletin Board: CHCG), a retailer and distributor of consumer and business products in China, announced today that it signed a binding letter of intent to become the exclusive supplier for http://www.3C800.com, a leading online Chinese retailer of Business-to-Consumer electronics products. The website is owned by Hangzhou Xituo, a leader in the online retailing of 3C products (Communications, Consumer Electronics and Computing) in China.
China 3C CEO Zhenggang Wang said, "We are extremely happy to be the exclusive 3C product supplier for 3C800.com. This relationship has the potential to expand our customer base by leveraging our existing retail, logistics and distribution capabilities. The relationship also enhances our reputation in China as a leader in the 3C space."
Wang continued, "We have long had an intention of building a strong presence on the Internet to complement our nearly 1,000 stores, but have been seeking the right way to do it. By entering into a relationship with an existing online retailer, we have largely eliminated the risks of building our own website, and therefore the potential risk to our capital. Management has concluded that this approach is the most effective way for China 3C to have an online presence."
About Hangzhou Xituo
Hangzhou Xituo Network Technology Ltd. is an E-commerce company specializing in user-friendly online sales of 3C products through its Business-to-Consumer website, http://www.3C800.com. Hangzhou Xituo's goal is to become China's largest online shopping platform for 3C products. The company is developing a new platform "3C paradise" (http://www.3C800.net), using 3-D technology, which allows shoppers to experience the feeling of visiting a retail store and promotes the newest 3C shopping lifestyle to expand its consumer base.
About China 3C Group
China 3C is a leading wholesale distributor and retailer of 3C merchandise: computers, communication products and consumer electronics. The company specializes in wholesale distribution and retail sales of 3C products in Eastern China, focusing on products that make life more comfortable, convenient and connected. The company's goal is to become the number one retailer of 3C products in China. For more information, visit http://www.china3cgroup.com.
A profile for investors can be accessed at http://www.##############.com/chcgprofile.aspx. For investor relations information regarding China 3C, contact Frank Hawkins or Ken AuYeung, Hawk Associates, at 305-451-1888, e-mail: info@##############.com. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.##############.com and http://www.americanmicrocaps.com. To receive free e-mail notification of future releases for China 3C, sign up at http://www.##############.com/email.aspx.
Forward-looking Statements:
Certain of the statements set forth in this press release constitute "Forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We have included and from time to time may make in our public filings, press releases or other public statements, certain forward-looking statements, including, without limitation, those under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7. In some cases these statements are identifiable through the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "target," "can," "could," "may," "should," "will," "would" or words or expressions of similar meaning. You are cautioned not to place undue reliance on these forward- looking statements. In addition, our management may make forward-looking statements to analysts, investors, representatives of the media and others. These forward- looking statements are not historical facts and represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond our control. There can be no assurance that such forward- looking statements will prove to be accurate and China 3C Group undertakes no obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements.
SOURCE China 3C Group
Late today there was some buying intrest that drove the price up from the $3.12 area up to $3.21. Shortly after the up tick check out the trades that went through. A big block buy and then an almost immediate sell of the same share size. This strategy can be used to scare off any potential buying intrest and kill the bid.
3.19 7000 OBB 15:34:41
3.20 7000 OBB 15:34:38
3.19 5000 OBB 15:29:58
3.20 5000 OBB 15:29:54
3.195 4500 OBB 15:28:27
3.20 4500 OBB 15:28:26
Check out this video, Jim Cramer exposes how hedge funds use this strategy:
http://video.google.com/videoplay?docid=1792867779569816448&q=cramer+manipulator&total=8&start=0&num=10&so=0&type=search&plindex=2
Enjoy
Brean Murray (BMUR) were on the bid all day long. I bet money they will be anouncing coverage on CHCG in the near future.
From their website:
Brean Murray, Carret launches Chinese Investment Practice
Brean Murray, Carret & Co. has established a presence in Beijing, bringing over three decades of investment banking and brokerage experience to mainland China. We have positioned ourselves to research and serve the high-growth industries of China and their investors. With a burgeoning middle class and a mushrooming population of tech-savvy consumers, the Chinese economy, particularly the technology sector, features dramatic growth opportunities.
While the biggest dozen U.S.-listed Chinese companies are heavily followed by Wall Street, there is a clear need for thorough equity research focused on small- to mid-size companies. Brean Murray, Carret & Co. is moving quickly to be the first boutique investment firm to offer comprehensive, proprietary research on this burgeoning region
I agree with what you have posted except for:
"The window of time to take advantage of China boom is closing."
China will continue to be a great place to invest for years to come. This is just the begining. Once the investment world gains some trust in the chineese economy you will start to see higher multiples on china stocks.
Volume is picking up big time, I think we are near bottom finally!! :) I just bought 5K, we sall see.
They are not. Looking like first half of next year now.
Very strange filing, over 4.4M shares sold and the date of the transaction is 11/26/2007. Again, very strange.
Wow check out the volume! I bought some at $4.26 as planned. MAXIM is gobbling up all of PERTS shares! This is heating up!
I hope it will, it is all up to the company. I don't have a good feeling about it though. For now I am just taking advantage of small price changes between the support at $4.25 and the resistance around $4.45 by flipping shares. We will know soon.
I am not liking today's action. Almost 100% sells after the uptick on open. If we do not hear from the company this week about when they will report Q3 numbers then I bet they will file late. The SP will get hit hard if this happens. I fear that news may have already leaked out and the sell off has begun. We will see, we are nearing the $4.25 support, if we break through that then it is back to the $3's.
I am still here as well. Thought we might have gotten a run last week but no go. Still holding, won't be much longer :)
Not good :(
Down but on low volume so far. I don't know who PERT is working for but it seems their mission is to kill the SP. I bet he is selling the 144's.
Wow, crazy price manipulation going on. I saw this yesterday too, someone really wants shares. Big buys and then the ask moves down? Then a walk down on 500 share trades then right back up without warning. Not typical for CHCG. I picked up some trading shares in the $4.20's but will hold on to them until I see $5's.
CHCG looks likes like it is ready to run back to mid $5's.
I hate how manipulated this stock is. It goes up on sells and down on buys. Just plain retarded. The good news is; it looks like someone is finally ready to let this run up alittle.
I agree with your numbers based off the presentation, but we have no way of knowing what the current O/S count is so I prefer to use the maximum possible amount (150M) in calculating EPS. Even in this worst case senario this stock is WAY undervalued if income numbers are true.
It seems like Pert has an almost unlimited number of shares to sell. There is definitly some buyers out there, why won't PERT allow this thing to take off before he sells? Not good.
This stock is potentially the most undervalued stock I have ever seen. That being said, I have already lost money on this one and currently have zero shares. But the possiblilities still remain.
'06 net income = $26.2M
O/s = 50.2M
Total Authorized shares = 150M
So even if the registered ever single share they have been authorized to register, their EPS for '06 would be over $0.17.
For '07 the have given guidance for net income of $45M.
That would be an EPS of $0.30.
If they post audited financials I will be back in.
Guys, the stock will not due much until the first or second quarter '08 earnings are reported. If they follow through with the numbers they have promised the SP will fly. As for the comments about the PR's and the many different buisness types, that is the nature of a holdings company. Most of the companies they buy, management is kept on board to manage the companies. TTGL's management is more concered with making smart aquisitions and doing what is best for share holders, not running the companies they buy. I think they have done a good job thus far, however there are a few actions taken I don't understand. The naz application is suspect and I do not know what they were thinking. The AT&T settlement is definitly below what the street was expecting, but will be well worth accepting the lowball offer if a nice deal is struck with them later. Finally, I am not a big fan of the huge "Finders Fee" they paid for the Appco deal, and some of their financing is questionalbe as well. The bottom line is, if they meet revenues and earnings guidance $4.00 will be an after thought.
I made a purchase at $4.22 today. Looks like we have decent support at $4.20. If the company comes through with numbers next month we could see a nice jump.
Call went great. I don't understand the drop. Definitly puts up some red flags. I hope it recovers the gains before close.
Thanks for posting the month old news...
Maybe profit taking, maybe people selling because the CFO resigned! Read the 8-k filed today. This is starting to look bad.
This seems true but CHINA 3C Group has not even been in existance that long. This is just a coincidence.