IT Tech Packaging Inc (ITP)

[risi]

http://seekingalpha.com/article/219704-orient-paper-s-top-supplier-an-empty-shell-owned-by-onp-s-ceo?source=yahoo

Hhmmm... this guy is short ONP so he has a serious motivation for making this stock go down. His credibility is in question in such an article and he was probably part of the bunch who was selling to kill momentum yesterday. Now he times an article to make it go down even more.

On the other hand, one would be stupid not to consider such strong accusations with documentation. I've drunk the cool-aid on too many stocks before. It's time for ONP to come clean and soon.

Disclosure: I sold out yesterday (Aug 9) at $5.25 to protect profits under the tremendous amount of selling pressure. I will now wait to see what ONP does in answering these accusations before I re-enter. If any of these accusations are proven true, ONP will have a serious credibility issue to overcome and I will move on from ONP. I am hoping for the best. If they are exonerated, this one will take off like a rocket and those like me will be left chasing the pps. But, if the issues come true, we could be trading below $1. The downside scares me too much right now. I'll wait on the sidelines for now.