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Xinyuan Real Estate Co., Ltd. Message Board

  • doublej7844 doublej7844 Nov 12, 2012 4:13 PM Flag

    My observation of today's trading

    Seems like it held up pretty well on a flat day. Some late session large sells knocked it back a few pennies from a 3.30 close, but it held up well. I was encouraged to see some large buy orders in queue. More and more, this stock seems to be behaving more "normally". Remember that just a month ago we were trading in the 2.50s, so even with the selloff, we are much better off. With the run up into earnings, its hard to speculate how many were just traders running the price up, so i'm glad we got some selling before earnings, because I believe the selloff after earnings would have been even more dramatic. Not that it will help drive up the price, but company buybacks begin on Wednesday (three trading days after earnings), so that will help with any downside pressure, which leads me to my point...Just as 2.50 seemed to be the base for the last 6 months, I think we will stay above 3.00 going forward (I'm not saying we could temporarily breach this number for a short period, I'm just saying this will be the new base for the foreseeable future). Good luck to longs.

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