Bought some ONP today at $1.80. I sold out of LPH because I stopped believing in the Company-They store petroleum and own 2 gas stations-not enough to convince me that they are legit. I own nice positions in XIN, BORN, LIWA,--sold out of YONG, STV and LLEN. LIWA is my biggest bet right now and I see a double within 6 months.
tdcburns cries too much for me--cried about YONG, Cried about LIWA and constantly cries about Chinese stocks in generl but professes to be heavily involved with them-I don't cry--just make money in Chinese stocks.
I've looked at it before but way too thin and micro small for me. You are right it is cheap like all the chinese companies but also like most nobody cares. Its volume and chart looks dead too. But then again this is what LIWA has turned into?
LPH is going a lot higher. One day when LIWA CEO lives up to all his valued shareholder comments that have so far sounded like lies maybe LIWA will go up like LPH, VIPS and some others.
I believe Burns is still in Maui. This is what Bloomberg advertisement on behalf of the Short seller on Chinese RTO sector:
The company YONG, whose management short sellers including Absaroka Capital Management LLC said embezzled funds through a fake transaction, joins dozens of Chinese stocks seeking to delist from U.S. exchanges. While lower valuations are luring private equity, U.S. regulators probing potential fraud are intensifying concern over U.S.-listed Chinese companies by accusing the largest auditing firms of withholding documents. Securities and Exchange Commission spokesman John Nestor declined to state which companies are being investigated when contacted by phone yesterday.
“Investors’ sentiment is so poor that the faith in these companies doesn’t exist at all,” said Joe Giamichael, an analyst at Umbrella Research, a research and advisory firm in New York that follows Haidian, China-based Yongye. “That level of distrust and disbelief out there, a lot of it is well earned.”
Big Money still insisting they will not allow this sector to breath until further notice.