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Andatee China Marine Fuel Services Corporation Message Board

  • chickenhatsdotcom chickenhatsdotcom Oct 14, 2011 2:12 PM Flag

    Went short at $3.17 this morning because .....

    this company's margins are razor thin and with the decline of oil price, their numbers will look even worse next quarter, not to mention the P/E on this thing is already in orbit in comparison with the rest of the China small-cap sector. I have a very small short position, as Ameritrade only had 500 shares available for shorting this morning. I think you'd have to be a fool to buy the stock right here above $3.00

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    • Considering your past record, this stock should continue to skyrocket if you're shorting it.

      That being said, it does appear to have come too far too fast. There is no reason for the company to buy back shares at these prices.

      • 1 Reply to mizesaw
      • The company or CEO isn't going to be buying back shares, especially since they didn't use the opportunity to do so wayyyyy down lower. Their claim to a $2 million share buyback is total B.S., no different than what many other China small-caps have done. This is one short position I'd be totally comfortable in if I had been able to short the number of shares I wanted to.

        On a side note, made out nicely on my LOCM shares today. Sold half at $2.82 and looking to buy them back at some point.

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