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Xinyuan Real Estate Co., Ltd. Message Board

  • hmmm26 hmmm26 Oct 25, 2012 10:01 AM Flag

    Trading In the Clear: Defeat. Short Position Closed.

    At the open half an hour ago, I closed my short position from last Friday at $3.38 through $3.41+, an average of a fraction over $3.40, on average.

    That represents a butt kicking loss of .35 cents per share, reducing my ongoing XIN cash value from $4.41 to $4.06.

    How'd I screw up?

    My play was based on the assumption that XIN's spike was caused by the national news mentions it received late last week. But maybe it wasn't. Maybe other factors were at work, as well, possibly new Institutional buying, that just happened to coincide in timing with the news articles.

    I also wonder about a second possibility: maybe the news mentions served as a kind of notice alerting potential investors, retail and/or Institutional, that XIN exists. It's possible that XIN's recent US purchases make it more palatable for US investors today than during previous spikes, so while previous notices received from articles, etc., were quickly abandoned and their spikes quickly fell, maybe folks today are more willing to hold XIN on a long term basis. Very few Americans can name three cities in China, but every single one of us knows Brooklyn.

    Whatever the answer turns out to be, this much is certain: I got my butt kicked, but good.

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XIN
3.23-0.09(-2.71%)Sep 19 4:04 PMEDT

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