Your guys are absolutely dead wrong in trading such a small China cap which by definition hard to know where it moves. If you like China growth concept, why not trade the obvious leaders like BIDU, QIHU, CTRP, YY?
I think the bleeding will stop at around $5.00. It might go below $5 for a day or two, but the 200-day moving average at November 21 is $4.94. Also, a stock price at $5.00 and above is NOT considered pink sheet or penny stock material. So management and market makers have all the incentive to keep the price no lower than $5.00 in order to keep the stock marketable. Just my opinion.
Sentiment: Strong Buy
I'm waiting for the gap to fill back in may of 2010 just below 4.00. Maybe the creep ceo will buy at that dip. LOL what a real #$%$ he is.
the ONLY problem is the legitimacy of the numbers, financials etc.
it would easily be trading for $25+ if the numbers was proven to be authentic.
but why is the CFO selling when the earnings are so "good"? that is likely the sole reason it is tanking.
First, let me say that I have no current position in CLNT. But I have been convinced over the past few months of corporate action that this is obviously not a very legitimate company. The CFO's behavior prior to earnings release was disgraceful. The PPS is manipulated every day, sometimes extraordinarily so.
Earnings are unaudited.
Not to say traders can't make a profit here, (and I intend to be one myself), but for all the "long" investors clamoring about the fundamentals: wake up. The reason it's selling for so low p/e, p/s, is because most investors have realized something is wrong about this company.
Now, with that being said I actually think the most recent quarter earnings was a fantastic bullish sign. What scam company would release earnings like that, if they could just make them up on the spot? So I don't think the company is a 100% scam, but the amount of corrupt activity going on is still offputting. That's China for you. I wouldn't be caught dead holding this company long.
Buying in the low $5s and selling and shorting in the mid-high $6s has made quite a bit of money for traders here over the past couple of months. I intend to join the party.
Seeing as the price is in the low $5s, I recommend buying. But don't count on holding your shares for more than a week or two.
Anyone else feel the same way? I've had order in to sell at $6.50 for the past week which always almost always gets tickled in pre-market, and then we have the vertical zig zags. What gives? Seems to be a common theme in a handful of stocks being manipulated, but I guess this is China.
Not mine you didn't. I am holding this long and have little interest in the short-lived spikes and dips. If you were shorting this, it was a good play on your part, but I wouldn't get to greedy because the fundamentals simply do not support the price being this low and it could easily rise just as fast as it went down. The quarter wasn't off the charts, but given the global economy, it was not a bad report by any means. I buy potential and hold long and potential is what i see here with CLNT. Time will tell, but I expect to reap a very healthy ROI in the long run.
"Which CFO sells shares right before quarterly results?"
Oh I don't know...one who expects the stock price to tank on the less than stellar results?
Sentiment: Strong Sell
A very good quarter but a stupid CFO. Which CFO sells shares right before quarterly results? Yes, one..........Wasserman. If he didn't sell, the stock price would have been $10 today.
The mess started yesterday when the CFO Wasserman sold part of his shares. What a complete idiot! A shame for the company. Who sells shares right before publishing Q3 results? YES. CLNT's management
I can't argue, I'm an idiot. I should have sold yesterday but was hoping for a huge push that sent my profit to the toilet.
Your statement has no basis in fact. While this sell off is odd, to say the least, it certainly isn't based on the fundamental valuation of this company, which is quite healthy IMHO.