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China Precision Steel, Inc. Message Board

  • jing_sun01 jing_sun01 Oct 11, 2007 11:07 PM Flag

    SDTH Should Go Back Above $8 Tomorrow

    If you paid attention to volume today as I did, you would know that up until 11:00am, SDTH had traded over 4mil shares at an average price above $9. By the time at 1:00pm after I finished lunch and sold my 5000shs at $8.50, there had already been over 5mil shares traded. (BTW, I bought back 5500sh at $7.75 later today). Unfortunately the general market�s bottom fell off at around 2:00pm, causing a fire sale of SDTH in the next hour or so. Yet only about 1mil shares traded hand in that period, but enough to push SDTH all the way down to $7.20. After that another 1mil shares traded, which pulled the price up to finish the day at $7.70. So, what these numbers tell me is that, most of people bought in today were at above $9, they had probably absorbed many profit takers�s shares, plus some shares from those original investors (note, these guys are not insiders, they are just early investors. I saw some confusions about these people, hope it clarifies now). So, if the market stabilizes tomorrow, we should see SDTH quickly move back above $8, simply because not too many people will be willing to sell at this level (perhaps only those early investors if they still have any shares left). Once SDTH reaches $8.50 ~ $9.00, we might start to feel some selling pressure. But that pressure should be easily absorbed within several sessions. If the earning reports in general are favorable in the next week, we shall see the general market to resume upward move, which will trigger another round of move up for SDTH, and that could get it over $10 by the end of next week, I hope!

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