3SOF

Hi Ramsburg,
Thank you much for the update.

Well, this mornign we are back to our original target (9.20). Do you advice getting some partial profits or continue holding?

thank you muvh for your input,
rafael

Quote from: mexirafa on April 17, 2006, 10:29:15 AM
Hi Ramsburg,
Thank you much for the update.

Well, this mornign we are back to our original target (9.20). Do you advice getting some partial profits or continue holding?

thank you muvh for your input,
rafael

Hi Merixafa,

My plan is to sell far above $10, probably with news on the CECT IPO. But I understand anyone taking profits now.

best regards,

It's really hard to watch a nice profit in the morning turn into a significant loss during the afternoon... But the overall market behaviour encouraged some profit taking on XING, and that's normal...

No reasons to stop thinking about double digits for now... XING is a winner 

We now have XING near the support again ($8.54), we expect it to hold any price fall, our stop order is in place just in case something goes wrong:
Hold XING with a stop @ $8.35

XING is clearly consolidating this new price level above its $8.54 support.... One thing we are sure, people have been buying strong near $8.54, and selling strong above $9.00

This trade is getting «boring», but we continue to have a very strong sentiment about XING, and that it will be trading double digits very soon... Like said before, not only the strong technicals on a long term overview, but also the prospects of some interesting Fundamental developments, so we must continue to hold XING for now.

There is no special technical update, it could be forming a symmetrical triangle pattern for short term, but our goal here goes beyond this pattern.

Our plan will be just the same:
Hold XING with a stop @ $8.35

Best regards !

Hey Rambsburg,

Last friday we closed below the 20-MA and 13-EMA. Volume, MACD, Force keep declining. Down in the A.H @ 8.71. Is this something we should be worried about,perhaps time to exit momentarily??

thanks,
rafael

Quote from: mexirafa on April 23, 2006, 10:52:41 PM
Hey Rambsburg,

Last friday we closed below the 20-MA and 13-EMA. Volume, MACD, Force keep declining. Down in the A.H @ 8.71. Is this something we should be worried about,perhaps time to exit momentarily??

thanks,
rafael

Hi Merixafa,

Thanks for your input.
About the current short term technical situation of XING, yes, the outlook is not very impressive; some indicators are not ok right now. But the main point is that we didn't buy XING because of any ema or macd signal, so we are not selling it because of these indicators.

We are expecting a huge run on XING at any moment, and we don't want to lose our position here... That's why we didn't sold it at $9.20 like planed when we had the chance, that's why we didn't sold it above $9 a couple of times after (knowing there's a resistance there), and that's why we are risking such a room of profit in here.

$8.54 has been acting as a strong support, an active price that is related with our plan, so we only «quit» XING if that support is broken, never before that.
By the way, if the $8.54 support is broken, we expect a correction down to $7.80 (an ascending support), probably a good place to re-buy XING if we get stopped on this trade.

So our plan will be the same:
Hold XING with a stop @ $8.35

Best regards,

Thank you very much Ramsburg for your input. Your bigger picture of the play makes way more sense.

Not an interesting session for XING, it just had another reaction on the support level. Volume was low, and also not interesting.

We'll keep the plan:
Hold XING with a stop @ $8.35

Best regards,

Hey Frederick,

Hope you are doing well.

Question.

XING formed an interesting candle today closer to the support level (8.54 area).

Is the past consolidation considered some kind of a triple bottom forming an M shape??

If so, today's candle would be a bullish sign of a rebound. The only thing I didn't like is that it didn't close above prevoius close (only a couple of cents away)

Thank you very much in advance for your response,

Rafael

Quote from: Ramsburg on April 25, 2006, 04:36:18 AM
Not an interesting session for XING, it just had another reaction on the support level. Volume was low, and also not interesting.

Frederick,

...and another reaction at the support level. 

The past month of trading "looks like" a H&S Top, except the Right Shoulder is wider than the Left Shoulder (the Left Shoulder should be wider) and the high of the Right Shoulder is higher than the Left Shoulder (the high of the Left Shoulder should be higher than the Right Shoulder).

The lows of 8.50...8.50...8.50...8.52 definitely looks like a neckline 

Since it "looks like it," I'd say that if 8.50 month-long support gets broken, Target: 7.49 would be IN PLAY.  It might not get that low since XING is bullish, but I think there will be some downside, possibly swift,  if players see that key short-term  8.50 support isn't support any more.

Math:

9.51 (high) - 8.50 (support)  = 1.01 points

A break of 8.50 - 1.01 points = Target: 7.49 IN PLAY

Well, definitely $8.50 is supporting XING's price for the last month, yesterday's reaction was not so active as the previous reactions, volume was low, and like Melf said, this is looking like a H&S pattern (which is not good).

We trust the $8.50 ($8.54) support level, and our trading plan is adjusted to it, we also agree that if the $8.54 level is broken we should see a price drop at least to $7.80.

Believing XING has a tremendous upside potential, we have been trying to keep this position in play as hard as we can, and even if we get stopped, I'm sure we'll be back to XING soon.

Our plan must be the same:
Hold XING with a stop @ $8.35

Best regards,

Out at 8.34,
rafael

I wonder what happened at 10:57 for XING to drop like that and stop us out. Any bad news?

Quote from: Maestro on April 27, 2006, 11:17:26 AM
I wonder what happened at 10:57 for XING to drop like that and stop us out. Any bad news?

maestro,

That was technical selling, on the break of 8.50 support.  A lot of "technical" stops there.

Quote from: Melf Elf on April 27, 2006, 06:26:35 AM
The lows of 8.50...8.50...8.50...8.52 definitely looks like a neckline

I think there will be some downside, possibly swift, if players see that key short-term 8.50 support isn't support any more.

The 8.50 area had been support on FOUR occasions, so when it got taken out, XING went from 8.50 to 8.18 very swiftly; in a single minute. 

WAtch XING today, this news may get some action going. I was stopped out yesterday also, but this investment shows considerable financial interest in XING future.

I  bought back my position today. I think this news will be the catalyst to get XING on the move again

Qiao Xing Universal Telephone, Inc. to Sell USD40 Million's Worth of Convertible Bonds to Two Strategic Investors, Including One Strategic Investor That Recently Purchased 3 Million Shares of Common Stock from the Company
PR Newswire - April 28, 2006 08:30

HUIZHOU, Guangdong, China, April 28, 2006 /Xinhua-PRNewswire via COMTEX/ -- Qiao Xing Universal Telephone, Inc. (Nasdaq: XING) announced today that it had recently signed binding agreements to sell to two strategic investors USD40 million's worth of convertible bonds (CB). According to the agreements, the holders of the CB may, at its option within 3 years of the closing of the deal, convert the CB into common stock of XING at a conversion price equal to 115% of the volume-weighted average price of the XING common stock for the 5 days prior to the signing of the term sheet (subject to certain conditions), or shares of the common stock of Qiao Xing Mobile Communication Co., Ltd. (QXMC) in the event of its IPO at a price equal to 7 times QXMC's 2005 consolidated earnings per share. QXMC holds 90% of the equity in CEC Telecom Co. Ltd. (CECT), and is itself currently 80% owned by XING.

The proceeds of the financing will be used for general corporate and working capital purposes in order to better help the Company achieve its goals for 2006 and beyond, especially CECT's 3G development operations.

The closing of the transaction is subject to certain conditions precedent which include among other things the approval of the stockholders of Qiao Xing Universal. Three closely-related shareholders, which together hold a sizable block of XING shares, have signed Voting Agreements with the Company, committing to voting all their shares in favor of the sale by the Company of USD40 million's worth of convertible bonds.

Mr. Wu Rui Lin, Chairman of XING, said, ''One of the two strategic investors has recently completed two rounds of investment in the Company by purchasing 3 million shares of common stock of XING. Now, it has signed binding agreements to buy 90% of the USD40 million's worth of bonds with the potential of their being converted into common stock of XING or common stock of QXMC in the event of an initial public offering. We believe that this sequence of events demonstrates this strategic investor's confidence in XING and XING's ability to attract institutional investors.

''With the funds raised from the sale of 3 million shares of common stock and to be raised from this proposed USD40 million convertible bond sale, Qiao Xing Universal Telephone's operating subsidiaries CECT and Huizhou Qiao Xing Communication Industry, Ltd. are poised to achieve even greater success in the fields of high-end mobile phone handsets, indoor telephone sets with value added features and VoIP terminal products.''

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Qiao Xing Universal Telephone, Inc.

Qiao Xing Universal Telephone, Inc. is one of China's largest manufacturers and distributors of telecommunications products. The Company has grown its net sales from approximately $46.4 million in 1997 to more than $244 million in 2004. The Company's product portfolio includes telecommunications terminals and related products, including fixed wireless phones, VoIP telephones, advanced mobile phones, PDAs and consumer electronic products, including MP3 players, cash registers and set-top-box products. This includes the world's first model of dual mode and dual call waiting GSM/CDMA smartphone, the 'CECT CoolPAD 728.' The Company has established

2co-operative relationships with leading telecom and software companies for their China strategy, including Microsoft and Palm, aiding success for its 'High End Mobile Phone Strategy'. XING currently distributes over 260 models of corded and cordless telephones and is one of China's largest distributors of indoor phones. The Company has built a strong distribution network comprised of more than 5,000 retail stores throughout China and has established partnerships with major retailers in Europe, North America and Latin America, including Bellsouth and Wal-mart. For more details, please visit http://www.cosun-xing.com