The selloff in most China Small Caps is way over done. At least on a short term basis. We'll see about intermediate term but overdone on the downside in that time frame is possible too.
Price targets or long term?
Nothing has happened to change them.
For anyone who has been waiting for a good entry, we'd be looking carefully at the favorites right here.
ASIA has made a solid turn on the 10 day chart but, there are others.
GFRE has probably seen it's short term bottom even though it's short of it's 20 week m/a and it's 382 retrace [still possible but not looking likely short term]. IOHO.
Unless there is bad news from the company, the stock is a good long term value right here. [about 7.5 X what we think they will earn this year].
A place to buy and then NOT trade out of with a quick profit.
That makes for good stock board reports and a good short term feeling. BUT,
The real cost of taking such short sighted action will be apparent down the line in a rather painful way.
That's our opinion anyway.
Fabian
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