Replies to post #2538 on Longwei Petroleum (fka LPIH)

[Watchdog19]

Yes, I read it the same way. And as I recall LPIH loaded up on inventory in anticipation of a summer crude price surge. But the Chinese government only makes periodic adjustments when there is significant crude price movement (I forget the percentage movement required). But given the recent price decline in crude, yes, LPIH will come out on the wrong side of this bet this quarter. The question is how much. If I had the time, I could probably figure out reasonably close, but I don't plan on selling LPIH anytime soon. If you are looking for short term profit, this isn't the stock to own, but over the next 1-2 years I will be dissappointed if I haven't at least doubled.