Not necessarily. If we see good numbers again with the next release of the financials, my suspicion is that $14 will be the bottom trading point of a rising pps average. The market has a mind of it's own and rarely properly prices stocks unless they are mid to large caps. If a stock is properly priced, that's my exit point and I'll wait for a better price. I will also exit with profits the moment the growth numbers start lagging no matter what the pps is. Mr Market is not kind on Micro Caps that aren't growing like they're on steroids. Micro caps like ONP will always be very volatile and a $14 price tag is justified in my opinion even now (see 2 posts prior to this one). Entry at a 50% cut from fair value is a no brainer, that's a buy. That's when I pull out the reserves and start adding and then selling to add free shares at about 20% profit or more when Mr Market realizes he oversold. I started re-buying at $13 thinking it would not make it to $11. Wrong again. Oh well, just means the profits won't be as great for me when we rise again.
When Mr Market feels good, we'll probably see $14 and higher pretty quick. But when Mr Socialist Obama comes out hacking away at the free market that is America, it makes everyone nervous even effecting this Chinese company traded in America.
I think you didn't get my point. I'm not saying that 14 is not a justified price for the company overall, I was saying that at this time when the stock was at 14 it was heavily overextended hence it climbed way too fast too high. That's a completely normal thing and there is no agree or disagree if you know what I mean. It was clearly overextended and now it's down to earth again. I'm sure it will go up once again if everything calms down.
Take care, TF
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