Portfolio of the Week 2010

[Rob]

AMMD long

Drat! I didn't know they were reporting this week or I probably would have picked something else--even though, ironically, it turned out to be a pretty positive report.

[wooish]

That's why I like scalping this stock because there are alot of support at this price range while full of shorts trying to bring it down. You can make $$ consistently (not too greedy though) once you get to know this stock.

[skiracer]

Ski

Win or lose in the contest is ok, I'm happy that I can participate. I expected it to drop after this past Tuesday anyway. I think we might see FUQI in the $16 again tomorrow. Fed just increased interest rate so tomorrow will mostly be red.

Actually wooish it made a bigtime comeback this afternoon. which i thought was surprising. i hate those sneaky bastards at the FED. they give you no notice.

[wooish]

Ski

Win or lose in the contest is ok, I'm happy that I can participate. I expected it to drop after this past Tuesday anyway. I think we might see FUQI in the $16 again tomorrow. Fed just increased interest rate so tomorrow will mostly be red.

[skiracer]

I might get my buying opportunity again on FUQI, shorts are all over this thing.

i'm amazed that you are still holding it in the contest. i thought you would have exited the position in the game.

[wooish]

I might get my buying opportunity again on FUQI, shorts are all over this thing.

[skiracer]

nice chart and explanation wooish. you should try changing your parameters with the time frame to maybe 6 months and "fill the chart" which will open the candlesticks up somewhat and make them more a bit more distinct. i'm not sure of what or who you're using to take your screenshots with but on the other thread i mentioned "Snagit" and imageshack.com for taking screenshots and uploading your material. they are both worth taking a look at. Snagit is a paid subscription and imageshack is free.

Ski

I've been watching FUQI since it was $4 back in 3/2009 and I've flipped it about 20 times with small profit each time. This recent article has everything you need to know about FUQI's fundamental

http://seekingalpha.com/article/178358-fuqi-international-bad-news-more-than-priced-in

Let's look at the chart. Starting around 4/09, the pps has been climbing up and up nonstop up until mid 10/09. It started downtrend since the stock offering and a disappointed Q3 result (IMO the result was not disappointed at all). A whopping 43% short interest also contributed to the low pps. Just because it's downtrending it doesn't mean you can't make $$$ right (buy low and sell at the bounce)

Due to high volatility, when I traded this stock, I always locked in profit because the stock tends to give back its gain in a blink of an eye but if you catch it at the right time it's easy to make 2 or 3 points in a matter of days.
As far as I'm seeing, the trading range of FUQI is from $15-22. Depending on market, I would most likely start a position around $16, when market is bad it would dip below $16 in which I will buy more. Hold it for a few days then you will be rewarded with at least couple points. Make sure you lock in profit on the bounce because most of the time it will selloff.

I will continue to use the same tactic mentioned above until close to next earning date. I believe after next ER, the pps will rocket to $25 or more (look at the short interest % again). Their 4th quarter sales should be good due to many holidays like Xmas, New Year, Chinese New Year + Valentine's day. Not to mention Chinese traditionally love to buy jewelry on many occasions (birthday, new borns, wedding, etc...)

So for this week, IMO FUQI will either goto $20 or go back to $16 or below. If it goes above $20, it's good for me in the weekly contest If it goes to $16 I will buy more with my real $$ but lose my weekly contest Either way I'm good.

With that being said, please do ur own DD before trading FUQI.

[wooish]

Ski

I've been watching FUQI since it was $4 back in 3/2009 and I've flipped it about 20 times with small profit each time. This recent article has everything you need to know about FUQI's fundamental

http://seekingalpha.com/article/178358-fuqi-international-bad-news-more-than-priced-in

Let's look at the chart. Starting around 4/09, the pps has been climbing up and up nonstop up until mid 10/09. It started downtrend since the stock offering and a disappointed Q3 result (IMO the result was not disappointed at all). A whopping 43% short interest also contributed to the low pps. Just because it's downtrending it doesn't mean you can't make $$$ right (buy low and sell at the bounce)

Due to high volatility, when I traded this stock, I always locked in profit because the stock tends to give back its gain in a blink of an eye but if you catch it at the right time it's easy to make 2 or 3 points in a matter of days.
As far as I'm seeing, the trading range of FUQI is from $15-22. Depending on market, I would most likely start a position around $16, when market is bad it would dip below $16 in which I will buy more. Hold it for a few days then you will be rewarded with at least couple points. Make sure you lock in profit on the bounce because most of the time it will selloff.

I will continue to use the same tactic mentioned above until close to next earning date. I believe after next ER, the pps will rocket to $25 or more (look at the short interest % again). Their 4th quarter sales should be good due to many holidays like Xmas, New Year, Chinese New Year + Valentine's day. Not to mention Chinese traditionally love to buy jewelry on many occasions (birthday, new borns, wedding, etc...)

So for this week, IMO FUQI will either goto $20 or go back to $16 or below. If it goes above $20, it's good for me in the weekly contest If it goes to $16 I will buy more with my real $$ but lose my weekly contest Either way I'm good.

With that being said, please do ur own DD before trading FUQI.

[skiracer]

Ski

I own most of the picks that I post here. I bought 750 shares of FUQI a few days ago @16.45 (missed the $15 entry) and got stopped out this morning @ around 17.35. It's @17.65 now. Oh well profit is profit. I've been flipping FUQI for many times with luck. I will wait for another opp to reenter. If it doesn't cross over 18.66 I think you'll get another chance to buy it @16 again.

I also own every stock that I enter wooish. It would piss me off if a stock that I entered in the contest took off and I didn't own it and make the gains. So I always own whatever picks I enter in the contest. I have traded FUQI myself on several occassions and I think that at one time it was one of ernie's plays. It was one of my biggest gainers last year and went on to $32 level before tanking. I bought it at around $12 and rode it out to around $22-23 range. Then after I exited the trade it went on to $32 or so. It's a Chinese company that makes jewelry isn't it? What was going on that made you set a stop so close and get stopped out this morning. If you have time could you post a chart and what you saw that prompted you to buy it. It's been on a long slide down from recent highs around $32.

[wooish]

Ski

I own most of the picks that I post here. I bought 750 shares of FUQI a few days ago @16.45 (missed the $15 entry) and got stopped out this morning @ around 17.35. It's @17.65 now. Oh well profit is profit. I've been flipping FUQI for many times with luck. I will wait for another opp to reenter. If it doesn't cross over 18.66 I think you'll get another chance to buy it @16 again.

[skiracer]

looks like another strong pick for wooish again this week. he's going to be hard to beat if he keeps up this pace. do you own it wooish.

[Odysseus]

Hmm, by my reckoning I came in ahead of the NASDAQ, not behind it.

Anywho, Rob likes AMMD long (pun not intended) this week. I'll enter it on the form as well.

Tally ho!

Ick, sorry Rob, when I was checking the ranks I must have counted yours in order from Nasdaq ( 1 2 3 4, 2.03, 2.04 )

Sorry about that

[skiracer]

Ody, put me in NYB long please.

[Rob]

She Was No Umbrageous Harridan

Hmm, by my reckoning I came in ahead of the NASDAQ, not behind it.

Anywho, Rob likes AMMD long (pun not intended) this week. I'll enter it on the form as well.

Tally ho!

[BesV]

Congrats Wooish, nice 1! Congrats Ody & Peanuts

I will start with ARTG long. Thnx Ody