This is just the beginning, no need to get too excited yet. There was some serious buying going on today, think some big boys/funds are being o accumulate.
I bought at 40 cents and already sitting on huge gains but if you look at the valuations and growth potential, this is nothing. If the Shanghai Composite recovers next year, you'll see a much bigger move in Chinese stocks. Also, once news of Garden Fresh's listing in HK/TW starts filtering through, probably in the second half of next year, expect lots of hype to be generated for Sino Grandness.
Even 70 cents is nothing. This could potentially be a multi-multi-bagger one day.
Hi Daisy,
Unlike the Cheongwees and Macgyvers of this forum, I'm certainly nowhere near to being an 'uncle', but since you are unable to see me in this forum I shall take your calling me an uncle as a compliment on my wisdom rather than a disparagement of my looks .
Look I'm not a short term/momentum trader, I don't believe in that. I believe in finding value and keeping it for the long term. If you bought Sino Grandness at 55 cents don't be too happy yet - in the short term anything can happen, it can go up 10% in 1 day, it can also go down 10% in 1 day so please don't thank me yet - but 10% is nothing honestly, I didn't buy Sino Grandness at 40 cents to make a mere 10% profit in it.
As long as the fundamentals of this company with immense potential stay in tack, as I'm confident they will, I intend to keep this stock until at least both of the following happen:
(1) The Shanghai Composite hits at least 3000 or more (this is nothing considering it hit over 6000 in 2007)
(2) Garden Fresh gets listed in HK or TW.
We are currently in a bear market for Chinese stocks. I believe that in a normal market, Sino Grandness would be valued at at least over $1 - and in a bull market, even much more - assuming the fundamentals stay in tack.
But many people these days are impatient and only in it for the short term. Those people should be happy with 10% gains and sell.
As I've been saying for quite a while now, I'm also bullish long term on China Minzhong which I got at below 60 cents and have recently been accumulating somemore. Minzhong is also undervalued, assuming the fundamentals remain in tack. The recent minor correction in the stock makes it attractive to accumulate more of the stock at 80 cents and below. Again it's for the long term - I don't make short term bets.
Ethan,
good post, thanks for the knowledge.
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But, with the recent events regarding the SEC's threat to delist a number of Chinese companies listed in the US for being dis-honest and unclear with their reporting, I tend to take positive Chinese results with a grain of salt.
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Do you think this risk applies to Sino Grandness?