If I were a fund manager, I would keep building up my positions under $10(there is still a lot of growth room
for the company, $20 in the longer term).
After I have built a decent position, I would ask some analysts to issue some coverages on the company.
$10 - $12 would be the beginning target.
$7 - $8 is a good collecting area if there is not many competitions.
Also this was last resistance area before $10.
I will spend a few weeks here waiting for small investors to take their profits in the area.
Also trading between this area would help increasing the average cost of the stock to help it go much higher
For the past 2 mnths or so I'm not up on what the outlook is for China's economy. I'll have to add that to my list to cross ref sources to get a handle on it __ fwiw . vol now at daily avg and 1 1/2 hrs into our day and hit 7.30 too __ so sweet
If funds are buying, then I do not think we will be around here for that long. I see what you are saying, but if they see value up to $20, and I think they DO, I think we will continue to see spikes in the morning...and it could get more pronounced. But I agree that small investors will sell. I know I have already sold about 1/3 at lower prices...but my cost was $2.07. Bought a car with some of my gains ;-) I still have 8400 ;-) I plan on holding this until we get above book value ;-)