China Information Technology Inc fka CNIT

[hermon munster]

I agree and also didn't do as much DD before jumping in. I was just reading the chart before hopping in. Seems as though all of their income comes from govt. contracts? People on other sites are floating theories that since the company can buy its own stock, they purposely had the CFO leave under suspicious circumstances so that they can buy back on the cheap. I'm not so sure about that, but stranger things have happened.

Another reason why I don't suspect massive fraud is that the Chinese govt. doesn't really liked to be messed with. They are quick (too quick IMO) to execute people.

That being said, I'm not investing in CNIT, just trading it. Expecting a nice pop Tues-Thurs and then I'm off to the next overreation.

Good luck to everyone