I mentioned it on my Options Hawk Options Radar page yesterday...and I have developed a solid following from institutional investors. I also bought a bunch of shares. The 3,000 contract options trade yesterday is representative of a 300,000 share position, almost 3X the average trading volume!
The hard answer is to the question of why it took so long to move. I've held for a while, knowing it was just a matter of time. Today is the start.
The easy answer is that today all the commodity stocks are zooming, FCX, CLF, all the coals, and all the ferts, as the guy on CNBC says, anything that hurts when it falls on your foot. I'm overweighted on foot-unfriendly stocks.
The reason, amongst many, is the specter of inflation raising commodity prices. Even NG is up today.
A rising tide...
I have owned the stock for over a year, and I added to my position just two days ago. Why now? I also own GSI, a Chinese steel co, which has soared in recent days. Like GSI, FSIN is Chinese and profits from high metal prices. So, I added. Not a scientific principle, but that was MY thinking. Could be luck, too!
I don't know what's going on either, but I think there must be news that's not public yet. I don't think any stock is going to go up 30% on 10x normal volume without a reason specific to that stock. Looking at today's top gainers for the day, I don't see a consistent theme:
hahaha....by the way this is scott landry I changed my alias recently so yes I have also been invested here in fushi for a while....but back to the reasons it spiked-the real reason:
first and foremost without a doubt 100% it was a purely technical move in nature.....the 50 dma the 100 dma and the 150 dma all converged onnnnn(drum beat) you guessed it... Friday!!! so im sorry it wasnt the optionhawk im sorry it wasnt any special news im sorry it wasnt my paint finaallly drying-it was just plain technical breakout on dma convergence after a long technical basing pattern....if ya dont believe me then just simply watch now as 6.70 will be the new support line.....so buy it around 6.70 and u make money now again safely or at least relatively safely....as that is the 200 day ma....or better known as our new support.....next resistance 10+ by the way....and yes the move was certainly magnified by the if it falls on ur foot theme and by the chinese small cap theme as well....next stock i am buying a little more risky for my taste but I am lightening up on my financial trading stocks and buying seed and maybe cdii somebody mentioned here and a very big gamble in cagc.ob I dont recommend bb stocks though unless u want stock that ur prepared to wipe ur ass with which many bb stocks are usually worth but i feel like gambling this month....good luck guys....
Cool. I tend to bre tired and grumpy early in the morning. West Coast. So Up at 5 am. Let er rip I say....But i do bot think i will buy ny more cause i am new to this one. If it falls a buck from my buy i may have to rethink that tho...
in a worst case scenario the stock price would be 0...haha....but we cant be investors living on that philosophy now can we theres a word for that t bills....but yes a major market meltdown could easily take fushi down to under 5 just as it did before....but odds seem very very unlikely at this point and in fact of all the stocks i deal with which is a very high amount I put fushi in my top 5 holdings certainly-it has all the goods: the earnings power, the valuation, the geographically diversified market, the balance sheet, the technical stock pattern, and most importantly a brighter outlook going forward it seems....this company is a winner and this stock is a winner-you can trade it or just hold it but it IS going up from these levels....my style is to hold around half of my position and trade about half of my position based on my technical knowledge....and when i make money from the trading side i gamble on the riskier ones like this week it will be cagc and seed or other general trading stocks from time to time....that keeps me from getting bored watching the paint dry with the fushis of the world and more importantly keeps me from getting the itch to sell when the others are moving w the market while my fushi builds the base....in the end-fushi is a keeper at this point as well as HOGS and CFSG and FLR but cfsg i think its a bit late to get in now....good luck ur in a winner here w the fush I know my stocks....
east coast fushier says don't worry