3SOF

Me too ( I had moved my stop up since my last pst), no worries a nice profit locked in and will keep on watch for moves above new resistance  zone $10.60 area.

Quote from: bocasva on May 12, 2006, 09:52:45 AM
stopped out at $9.87

bocasva and Aussie,

Hey, no MAD faces on that trade, bocasva, you greedy little devil!    

You and Aussie did a very nice, well-disciplined job of trading XING.  Applaud you both for a job well done!

Our last trade on XING was kind of frustrating, we had good entry timing, our initial trading plan was to sell it @ $9.20, and we changed it because we were expecting to sell XING above $10, but we were caught on technical trap and we lost our position with a minor profit just a few days before XING gone double digits :-( the market loves to punish the «weak hands» and unfortunately our hands were weak....

After that we've been monitoring XING closely, waiting for the right time to get back on this position. The market has been severe with XING, this recent correction pulled XING bellow its ascending support level last Friday, but XING managed to close above this reference, showing some signs of selling exhaustion.

Our Fundamental expectations on XING remain very optimistic, we expect good earnings to be released, and news about a potential IPO on CECT soon.

We'll buy XING today in the morning.

PS: XING will be also added to the 3SOV Portfolio (Michael will manage that position with an independent trading strategy)


.

XING.... I don't think XING is ready to sing again, 2 red candle printed in the weekly chart will likely follow another one.

My take on XING it will build a base from here before deciding to take-off JMHO

Read also: XING on 3SOF Portfolio.

After the last time we bought XING for the 3SOF Portfolio, the team agreed that XING was a value stock and needed to be on the 3SOV portfolio, we were just waiting for the right timing.

For Fundamental and Technical motives already discussed, we are adding XING to the 3SOV Portfolio.

We'll buy XING in the morning.

PS: Michael will manage this position from here.

I think XING is still a falling knife right now.  The overall market was a lot different when it was bouncing off the ascending support line than it it is now (or has been lately).  It has a good chance of testing the 200-EMA down at 7.60 first.  If it bounces off that and makes a white candle the next day, then I would get in.  I think I'll wait a day or two on this one.

Leaira

dang terliso, you seem to be on a hot streak. everything you say seems to come true after i buy. I got in Xing at 8.05
Guess I should pick up some more now that its a 7.87

I didn't expect to see XING retrace so hard these past few sessions. A touch of the 200ema makes for a nice low risk entry.

I took a position based on that support (I had taken a nice profit on the recent run up few days back), I don't like this market right now for new long positions (breakout wise) but for stocks returning to decent support levels entries can be made with tight stops and good risk reward. Timing being the key really.

XING had a 100K block trade at $8.06 after hours which went through at the ASK, which is interesting. Shares short are around 2M ( as of April).

My trading plan is that XING will recover with news on CECT, earnings and guidance over the coming few days. So will see.

Good Luck.

To pick stocks these days is a hazardous occupation 

When I still put my neck on the block with XING it is due to the strong fundamentals of the company and even though their reporting is horrendous it is actually possible to get a good feeling of their business.

A few facts:

• CECT which is 72% owned by XING earned 29 million USD last year. (XING's share 21 million USD). They Increased earnings with 100%
• XING has confirmed that they consider an IPO for CECT (the recent drop in XING's share price makes it very likely to happen!)  With a veeeeery conservative trailing PE of 10 for an IPO the market cap of CECT will be 290 million USD. (XING's share 209 million USD – compared to XING's market cap of 133 million USD.
• CECT is gaining market share every month and is steadily climbing the ladder of the most popular handsets in China.
• COSUN (XING's other major subsidiary) is also on a roll. They announced a 35 million USD in September 2005 for their GSM handsets to be delivered before the end of 2005.

The market knows these great fundamentals in fact this is why the stock had a run to 10 when the news about the CECT IPO was officially confirmed at the end of April.

The sentiment of the market has changed since then and the horrendous reporting makes XING a very easy target for scare tactics from the short community. I believe this represent an excellent buying opportunity and even though I am holding quite a lot of shares back from the times when XING traded at 6.45 I added to my position today (XING is an old favorite of mine. You can read more here: http://www.3stocksonfire.org/trading/index.php?topic=1241.0)

We should see earnings for 2005 and Q1 2006 being announced soon. I will put a stop on this trade at 6.8 and will set a target after earnings is announced. The trading the last couple of days is not a reflection of the fundamentals but rather a result of a bearish market combined with a lack of transparency in XING's reporting.

Thanks for your input Aussie

Update:
Crazy session on XING today, but with a bullish Outlook.

XING had some kind of selling exhaustion with an ugly drop to $7.55 after our entry, but quickly recovering to the highs of the day above $8.00.

The support and this technical level are creating some buying pressure here, and we expect to watch a significant move soon.

We are not setting a stop yet, so the trading plan is just:
Hold XING

Note: Also read Michael's update for XING on 3SOV Portfolio.

Best regards,

XING's technical pattern is not looking so good right now... XING followed the Chinese markets, and closed down below the support area.
The support was broken today; it was a significant drop although with low volume, and closing near the ema-200.

We have to give some room to this trade, to eliminate any «market» noise, but we need to set a stop price now.

Trading Plan:
Hold XING with a stop @ $7.15

Regards,

Quote from: AussieTrader on May 22, 2006, 12:16:59 PM
I didn't expect to see XING retrace so hard these past few sessions. A touch of the 200ema makes for a nice low risk entry.

I took a position based on that support (I had taken a nice profit on the recent run up few days back), I don't like this market right now for new long positions (breakout wise) but for stocks returning to decent support levels entries can be made with tight stops and good risk reward. Timing being the key really.

I stopped out of XING for small gain today, I had moved my stop up to just below the ascending support line as I didn't want to hold on a pullback through what I see as double support (being that support line and 200ema below it). Will monitor for re-entry depending on how XING shapes up from here.
I have my trades on a tight leash in this current climate and if that means stopping out for small gains I am OK with that. I can / will lways look to re-enter when the chart shapes up again.

This looks promising as far as disclosure.


Qiao Xing Universal Updates its Financial Disclosure Plan
Thursday May 25, 9:00 am ET

HUIZHOU, Guangdong, China, May 25 /Xinhua-PRNewswire/ -- Qiao Xing Universal Telephone, Inc. (Nasdaq: XING - News) today updates its financial disclosure plan to the following:

    1.We aim to release 2005 earnings in the Form 20-F in the middle of June
       and certain key financial data for the first quarter of 2006 shortly
       afterwards.

    2.Starting from the first half of 2006, we will provide more
       comprehensive half-yearly financial reporting, which will consist of a
       consolidated balance sheet and a semi-annual consolidated income
       statement with information about earnings per share.

    3.The first and the third quarter, the Company will continue to
       release certain key financial data for the year to date as we have done
       since the first quarter of 2004.

Mr. Wu Rui Lin, Chairman of Qiao Xing Universal Telephone, Inc. said, ''We appreciate the need of investors for information about the Company, especially financial one, on which to base their investment decisions, and will continue our effort to improve on the transparency in our communication with the investor community.''

uc.

Good news for XING (thanks usedcasting ):

http://biz.yahoo.com/prnews/060525/cnth013.html?.v=8

QuoteQiao Xing Universal Updates its Financial Disclosure Plan
Thursday May 25, 9:00 am ET
HUIZHOU, Guangdong, China, May 25 /Xinhua-PRNewswire/ -- Qiao Xing Universal Telephone, Inc. (Nasdaq: XING ) today updates its financial disclosure plan to the following:
   
     1.We aim to release 2005 earnings in the Form 20-F in the middle of June and certain key financial data for the first quarter of 2006 shortly afterwards.

    2.Starting from the first half of 2006, we will provide more comprehensive half-yearly financial reporting, which will consist of a consolidated balance sheet and a semi-annual consolidated income statement with information about earnings per share.

    3.The first and the third quarter, the Company will continue to release certain key financial data for the year to date as we have done since the first quarter of 2004.
Mr. Wu Rui Lin, Chairman of Qiao Xing Universal Telephone, Inc. said, ''We appreciate the need of investors for information about the Company, especially financial one, on which to base their investment decisions, and will continue our effort to improve on the transparency in our communication with the investor community.''

Understanding some financial information about Chinese companies has always been a concern for investors, so this news come in good time. Also, now we know when XING will be releasing earnings.

Yesterday's session was good, bringing XING again over $8, after a good reaction on the ema-200. Anyhow, XING's behaviour has been kind of erratic in the past few sessions, showing some support at these levels, but a lot of intraday volatility and instability. We expect XING to HOLD this price levels, and to go up very soon.

Our Plan is the same for now:
Hold XING with a stop @ $7.15

Regards,

I have previously said that it is just a matter of time before XING is going head to head with companies like Motorola, Nokia, Siemens and Samsung on the world market.

Some members might think that I am kind of over bullish on XING so before I write more I have a small request. If you have a mobile phone please put it on the table in front of you and ask the following questions:

• What is the stand by time of my battery?
• What OS system does my phone have?
• What warranty did I get on my phone?
• Which functions does my mobile phone have?

I will be back