Thursday, January 21, 2010 11:23:07 AM
LEGE.ob is one that the OTCJoural Editor was "pumping" many months ago. I traded it a couple times, taking freebie shares to ride long term as profit.
This is a small holding now and part of a very diversified, growing basket of 84 US listed china plays. Generally I try to buy oversold charts, and take free shares as gains when they are there or when the stock chart looks too "toppy" to be sustainable. Love the sector, love the volatility, love the generally undervalued fundamentals.
LEGE has been at much higher levels. I'm skeptical of otcjournals picks though, in spite of being a fan of his TA and general market commentary.
FWIW, it looks like "they" won't be able to walk this one down much lower...and if you reveiw the chart, you'll see the stock regularly rallies into the .40+ range and settles back to below .30. Pretty set pattern, and now the stock is less than double the Mar. 2009 world market meltdown bargain end of the world price.
Stockcharts.com doesn't have a chart for LEGE, but I'm guessing we are trading at the lower bollinger band and well below fulls tochastics of 20! Usually a no brainer buy point...
Good luck...I view this one as a "gamble" play really, but I'd love to have quite a few more shares locked in for free on the next bounce.
CLWT looks like a strong buy this AM...higher quality china play...priced right for swing trade entry imo
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