Longwei Petroleum (fka LPIH)

[rru2s]

The chart isn't the reason for a pullback. Look at the big picture here, macro-wise. Many oil stocks have dropped similar amounts recently on nothing that is company-specific. If LPH was listed in Hong Kong instead of on the US exchange, PPS might not be down. But US markets are down so after some point traders will sell good positions just to be ready for further opportunities in the markets when the overall markets create bargain price opportunities in many stocks. Personally I think LPH has more upside than any of the bargains in other stocks, due to the combination of already being undervalued at a P/E in the low 3s, combined with 70%-75% EPS growth looking at forward quarters as a sure thing.