at the beginning of the big bubble, when the Wall Street fell in love with JASO madly.
And then, they dumped it so hard, JASO became a garbage stock.
History seem always repeat in the stock markets.
Just so you guys know, I sold and locked in my profit for the day, at $25.36.
A trade is a trade, is not an investment and never let a trade turn into something else.
I'd like to see a retest of the low, probably in next week.
Since when the newbies started to "teach" others?
It fell right into my targeted range.
I picked up a few at $22.94, a wild guess. It will be interesting to see how the stock close today.
Regarding the lockup, depending on which parts of the shares one is looking at.
For the IPO US ADS:
"JinkoSolar quiet period ends June 22
JinkoSolar Holding, a China-based manufacturer of silicon wafers, solar cells and solar modules, will see its quiet period end on June 22nd, 2010. On May 13th, the company raised $64 million by offering 5.8 million shares at $11, at low end of the range of $11-$13. Credit Suisse acted as lead manager on the deal."
As I expected, $25 failed to hold on closing basis.
What makes this trading game extremely difficult is the fact that the company failed to be honest to the US investors - the company shouldn't have withheld any financial data.
Now, nobody is certain about anything.
From trading point of view, I'd be watching $20-24 range for a reasonable risk/reward profile, as the margin clerks continue to liquidate some big losing positions - this is a classic margin calls triggering more margin calls.
Everything just falling apart!
I said to watch for $25 level, but a bunch of greedy and stupid buyers like to lose money.
What else do you expect from them?
For some reason, I think $25 will fail in the next week or so. When a stock was going up on fumes endlessly, the reverse is always so much more severe than those bagholders would want to believe.
We just saw the first little bounce on $25 level. But it won't last for long. Why? There is simply no value at these prices - the meat was already stripped by smart money traders.
I think $20 will be tested before yearend.
still not addressing my comments, my position on JKS is I bought 600 shares at 25 and sold at 36, round numbers of course, bought 150 shares yesterday at 29.25, will average in more buys til i build 1000 shares. talk to me at the next earnings release as I am sure you will post this thread if I am wrong. say what you want, just keep it factual, no one wants to be a TROLL do they?
The most shameless are those "analysts" put out those outrageous "earning" estimates, which are mostly bogus, b/c they don't even have a complete financial statements to work with.
I remember I was shorting JASO over $75, on split-adjusted, that would be around $80. But those greedy chasers of the stock laughed at my short setup.
One year later, boy, they were cleaned out completely - JASO became a penny stock. It was the most disgusting thing.
Those solar stocks have wiped so many hedge funds after the bubble was busted. What those newbies don't know still is that those companies are setup to fail eventually, for most of them. They live on government subsidies, which are always temporarily measures. Most of those companies have no viable business model once the subsidies are gone. But they all sit on mountains of debts.
Before the split, JASO went to $75. It was a love affair so intense.
Some firm even gave STP a target of $170, when everything was so hot!
And then, things turned so bad, JASO became a penny stock, and STP has never recovered since.
Margin calls coming?
The fact that it broke down right through the 2nd offer pricing is proof that something critical is wrong.
Did any of you clueless pumpers and chasers holding the bags now getting heavier each day even bother to look at the financials filed?
What exactly did they want to hide with those abridged financial statements? Where is the cash flow statement?
Funny trading, funny jack up act, and losers chasing it and losing faster than draining the toilet.