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Longwei Petroleum Investment Holding Limited Message Board

  • pureplay1958 pureplay1958 Mar 21, 2011 4:55 PM Flag

    Is there anyone left with their shares?

    Who is buying everyone's shares at 2? Still in myself although my gut aches and this is not the only CGS I own.

    X, you still holding?
    RR are you still in? Understand the ccme issue. Same here just different co's. Scary.

    Any others holding?

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    • Sad to say that there is different answer to this question today Pure. After my two year "marriage" with LPH, I got out today late mornining between 1.71 and 1.80...All 50k shares. I would have liked to be writing this post back in early Nov. when we were in the high 3's on huge volume but I am unlike the billchitters on here. Along the way I have been somewhat supportive of Redchip only because I discovered LPIH at .37 while watching a video presentation on their website and began accumulating. I think for me it was CELM that was the straw that broke the camel's back. If it was just market sentiment; I would have held as I have held thru many other rollercoasters. Unfortunately, CELM, NIV, CIL and many others are just hitting way too close to home... I had actually considered buying CELM if I has sold LPIH along the way and I also has AMCF on my could be that freakin easy to just wake up and have my whole account wiped out if LPH is next. I sincerely wish the longs the best and for the paid bashers and idiots like OZ...go phuck yourselves...Good luck Pure.

    • I am holding,down by about 30%. I think it will turn around after the fallout. I just hope the projected numbers are not a bunch of BS. I think that the doubt is what is bring this stock down. Once people are convinced that this is the real deal, it will bounce. Conversely, it could sink.

    • It's ironic that you mentioned the FED trying to surpress Chinese stocks as that exact thought crossed my mind the other day. It seems like there is a crusade going on and one has to wonder how much of this is fabrication/manipulation and how much is real.

    • 31,000 shares, still hanging in there.... After the fraud debacle is over, we'll be sitting pretty... hopefully...

      • 1 Reply to goldenoq
      • Bought a little more under 2 bucks a share. These prices are a great entry point or a great averaging down point.

        Lph is a very unsexy business that is becoming a bigger player in the energy sector in China. The idea of buying, selling, finished oil based products is boring. what makes LPH EXCITING as a company is the bargaining power its growth will afford it in terms of financing its expansion.

        The thieves talking retail into selling are the true lowlifes imo. Funny thing is I've bought more as the evil doers talk this down.
        The people talking down lph are just as devious as tlhe folks that pumped to 3.95.

    • Sold out from 100,000 shares down to 15,000. LPH went silent which is not a good sign. If their hands are clean well then shame on them for not calling a shareholder meeting to discuss.
      Still bummed I didn't sell at $3.80. My ownership in China mkt is history.

      • 1 Reply to ashley2001z
      • between china shames, eu unwinding again, 105/bbl oil, declining profits from oil prices and japan interuptions, and least but all more military involvement.
        almost all cash with small position in ssn. go out with positive and now is the time to be patient on cash. way too many negatives in the market for me.
        flushed the toilet and sent it back to where it came from...

    • Still got my 12,000 shares. May pack on some more today if I can get rid of CSR. Anyone got some NEWN? Did you enjoy the ride yesterday?

    • Gut check time. I own over 100,000 shares and have the same fraud question as everyone. However, I refuse to sell strictly based on fear. Feels like Feb/March/April 2009 all over again with all the gloom and doom (only this time on CGS). Once the cloud clears on the RTOs, the ones left standing, IMO, will be greatly rewarded. I learned patience in 2009, aggresively buying, and am practicing patience again. The story seems very realistic and LPH has not had any serious accusations made on them, at least none with any facts.

      The primary risks with LPH are that:
      1. Sales aren't real. I'm trusting the auditor does their job as this is relatively easy to confirm.
      2. Gross Margins are overstated. Again, should not be hard to confirm and auditor better have done their job. Though Chinese Government caps distributor GP at 400 RMB/metric ton, deposits and timing of buys/sells appear to increase margin from base 5% to 15% range.

      Nothing has changed in the last 6 months except other CGS have been accused of fraud, and most all appear to really guilty. Does that make all of them guilty? No. Feels like musical chairs, just want LPH chair to be there when the music stops.

      I'm trusting my gut and not letting a falling PPS affect my emotions. Fear is so much stronger than greed and a dropping PPS can shake out the retail investor, with shares bought by the institutions right before the stock takes off. Short interest has not changed from mid November to end of February. Maybe up in March but the market does not seem to predicting doomsday for this company.

      The change in approach (loans vs. complete equity) in financing the new facility gives me comfort the company does pay attention. Chinese culture, based on my experience, is more focused on long term so don't expect a reaction from them on every drop in the PPS. If you can't afford the risk, get out now. However, I really do believe this company is legit and will be a great long term investment, once fundamentals, and not fear, become the driver to determining its value.

      • 2 Replies to johnedwardstitch
      • I'm still in with similar amounts as you all. I've bought at so many levels now that I am not sure of my ACB anymore, but I think it is in the 2.60's. Picked up 4K more at $1.95 last week.

        Interestingly, I have pretty much the same thoughts as many of you longs. Trying to take the emotion out of it and not look for too many ghosts. Compared to what we DO know, what we don't know doesn't seem like show stopper material to me, especially after the last PR, which made me feel a lot more confident. I'm not happy by any means, but I am not worried enough yet to sell. I think a lot of this is overdone now, and the climate is just so toxic. All these external issues cause such fear (other frauds, rate hikes, world calamities...), yet the company basics are unchanged, and they apparently just keep on making money and expanding. The other "Monday morning CEO stuff" is just that. Mostly just distracting without really affecting what is going on in the business...which is growth and profits. That said, I am into the gut check thing also - nothing in life is 100% guaranteed. I would like to see this back up into the 3's by summer, and behaving more predictably.

        Sino had an interesting observation about PUDA the other day. Don't own it, but have been looking at the charts and other history on the PR's. There is an interesting comparison to be made there. Probably more similar than most other CGS's.

        Some suggest reading extraneous stuff about war and eastern philosophies - again melodramatic at best. I would say just read Kevin Chen's stuff and RRU2's old posts. It's pretty objective and fact based.

        I hope lupisv is still around. He could be considered institutional at this point I think!

        Keep the faith.

      • I'm hanging in there---I can wait.


    • Sold but not because today was any worse than any other day.

      My history with LPH is that I had as much as 100K shares last summer before the uplisting and going into 09/30/10 earnings, sold 1/2 on the rise from $2 to $2.60 to $3.15, then sold rest at $3.45 on 11/16/10. Bought back between Thanksgiving but before the S3 release, and I once again had a lot (95K) shares. When CCME got hit by the second hit piece I sold 55K shares over 2 week period and was left with about 40K shares. I *thought* LPH was not going anywhere fast until after the acquisition - it is like a cloud hanging over it, so I decided to put 60 percent of the money to use in CCME. But CCME was halted, and my remaining investment in LPH was essentially equivalent to the cash I would need to pay off my home equity line of credit and fund my son's college for next 1.5 years. So at that point I have to worry about capital preservation. I still believe LPH is fully legit, but CCME could go belly up completely and I don't want a double-risk right now. I would imagine many other investors who owned CCME as one of their largest holdings are now also reducing risk by lightening. Again, I think LPH is one of the best plays in US-listed China stocks. However, I won't come back to any single-company China stock until and unless I can recover the lion's share of what I invested in CCME. So yeah, I'm out by default of not having any other choice that is reasonable at this point in time. Who knows, if CCME comes out with most of it's marbles in the bank 3 months from now, I may sell half of that and put half back into LPH after the acquisition deal is finalized and the market prices in the dilution. Right now it is pricing in doomsday dilution, which is illogical, combined with fear that all China microcaps are frauds, which is also illogical. But I no longer have a liquid portion of my portfolio to allocate to higher risk/high growth stocks, and won't come back if I lose everything I had in CCME. GLTA.

      • 3 Replies to rru2s
      • Now, i had a very small investment compared to some of you that had 100K plus...Unfortunately for me, I couldnt sleep at night not knowing if this company is also a scam like CCME and a few others that recently got busted. If CCME was able to fool some serious investors even while having DT as their auditor, one has to think twice about these Chinese stocks twice before investing their hard earned money....I still like to beleive LPH. I will wait to see if they make any positive changes like hire a big auditor (yes CCME had one too, but it is better than not having one), not issue too much stock to finance the new deal etc etc and then decide ...

      • I really do wish the best for you. You have always been an honest and geniune person.

      • Hope it works out in your favor considering how much faith and dd you had and have in LPH. 53 here also and only now wondering how I got so enamored with this sector. Same as everyone else I'm sure but way to much.

    • Hey Pure, how's it going? Yeah, still holding (almost 51k shares) and very disappointed in the pps. It's a shame that macro sentiment and preferreds have dragged this puppy down...

    • I've had 8000 shares since over a year ago........the Jim Crane issue is really starting to concern me.

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