3SOF

got out with a very small profit..probably not after fees.

Market seems to be getting sour as a whole.

Quote from: Melf Elf on November 27, 2006, 03:39:47 PM
today is a complete reversal of Friday's nice white candle, on about 3 times the volume.

Here's a Candlevolume chart, depicting the Volume Reversal of Friday's bullish candle.

Descending Triangles (pattern in red) are a bit suspect.  They lean toward bearishness, because of the "lower highs."  If 13.88 - 13.90 support gets broken here, a target of 10.60 would be IN PLAY.

Math:

High: 17.20

Low: 13.90 (I take the more conservative of the 13.88 and 13.90 lows)

17.20 - 13.90 = 3.30 Points.  13.90 - 3.30 = Target: 10.60

As I mentioned at the weekend, on a break of support, this Descending Triangle could morph into a Bullish Falling Wedge at T1, or a Bull Flag/Bull Channel at T2, in which case, it would end up alright if the top of the pattern gets taken out to the upside.

But, until we see what develops, 10.60 would be IN PLAY on a break of 13.88-13.90 support, so based on yesterday's Volume Reversal, I decided to sell, even though support hadn't broken.

I hope that support holds here, for those of you long.  Good luck!

Quote from: Melf Elf on November 28, 2006, 05:10:30 AM
If 13.88 - 13.90 support gets broken here, a target of 10.60 would be IN PLAY.

That's a technical break of the Descending Triangle, just after the open.  XING quickly scrambled back above 13.88 and currently is BID 13.90...ASK 13.95, so the 10.60 target is ON HOLD.

Below 13.88, the 10.60 target is back IN PLAY.

Oops...XING slid to 13.50 while I was typing. 

tumbeling again 

Quote from: Michael on November 27, 2006, 02:56:39 PM

XING has promised us year over year earnings growth of 35% and even with dilution they are over delivering.

As with all things XING it is a few steps back before going forwards. Yes the market is selling the XING news, but as Michael points out XING is still delivering. They guided net sales to be +30% this year and net income to grow 35% per year 2006 to 2010. They are on track for the sales growth and blowing away the income number. With their best historical quarter still to come.

One thing XING lacks right now is a decent delivery of that message to investors (well Bear Stearns know it). THey need some Spin Doctors working their PR's a bit more.

More of the:
XING MAINTAINS 30% sales growth for 2006 with strongest quarter to come
Fantastic Income growth driven by high end handset sales, market penetration and excellent cost management
Blah blah

You get the picture

November 06, 2006]     

CECT to Offer Shares on New York Stock Exchange

(SinoCast China IT Week Via Thomson Dialog NewsEdge) BEIJING, November 06, SinoCast -- CEC Telecom Co., Ltd.

(CECT for short) is about to debut initial public offering on the New York Stock Exchange to raise as much as USD 300 million in the first quarter of next year, and by then, its market value will exceed USD 1 billion, according to sources close the leading mobile phone maker in China.

http://www.tmcnet.com/usubmit/2006/11/06/2049058.htm

full article:
CECT to Offer Shares on New York Stock Exchange

(SinoCast China IT Week Via Thomson Dialog NewsEdge) BEIJING, November 06, SinoCast -- CEC Telecom Co., Ltd.

(CECT for short) is about to debut initial public offering on the New York Stock Exchange to raise as much as USD 300 million in the first quarter of next year, and by then, its market value will exceed USD 1 billion, according to sources close the leading mobile phone maker in China.

CECT started brewing overseas listing two years ago. At the very beginning, it had eyes for the Stock Exchange of Hong Kong and NASDAQ Stock Market but eventually selected the New York Stock Exchange which could render more proceeds. CECT is, no matters in turnover or profit, provided with conditions of going public on the New York Stock Exchange, remarked insiders.

The main body of CECT to be listed will be the BVI (British Virgin Islands) offshore company Qiaoxing Mobile Communications Co., Ltd., which takes a 90% stake in CECT. The rest stake is in the hands of Tianjin Teda. CECT and a part of 3G R&D business will be covered in the company. But Qiaoxing mobile phone will be an exception since the business has been included in Qiaoxing Universal Telephone.

If making a success in the move, CECT will become the first Chinese mobile phone maker going public on the main board of New York Stock Exchange. Apart from CECT, Qiaoxing Group also plans to list another subsidiary engaged in 3G research and development in overseas markets. Along with Qiaoxing Universal Telephone (NASDAQ: XING), the group will become an important force in the Chinese mobile phone industry and possibly reshuffle the current competition pattern of the market.

Insiders pointed out that CECT's decision to launch IPO on the New York Stock Exchange is buoyed up by a series of goods news concerning its parent company Qiaoxing Universal Telephone.

Recently, Qiaoxing Universal Telephone performed rather well on the stock market, and its share price once soared to USD 17, with the daily turnover being as high as USD 30 million, a new record high since July 2000.

"The reason why CECT does not choose the NASDAQ Stock Market is because that Qiaoxing Universal Telephone has been listed there," noted an insider, "Going public on both the New York Stock Exchange and the NASDAQ Stock Market may bring the group stronger financing capability." CECT first decided to offer shares on the Stock Exchange of Hong Kong, but with a view to the low price/earning ratio there, it eventually gave up the plan, according to the insider.

Statistics show that CECT had been ranked number 9 and number 4 in the whole Chinese mobile phone market and among Chinese domestic makers respectively for two consecutive months of August and September. In the light of the outstanding performance, CECT will continue to maintain the 30% growth this year, and its net profit is expected to hit USD 40 million.

"The excellent achievement makes CECT qualified to debut IPO on the New York Stock Exchange," said Han Xiaobing, a telecom analyst.

Lin Yuan, an analyst with Analysys International, said that since mobile phone makers have known the real need of consumers much better in the recent two years, research and development is no longer a problem obstructing their development.

Under the drive of fledging ones such as Lenovo, CECT, and Dopod, the once leading mobile phone manufacturers start to see profit again, including Bird, TCL, and Amoi. The successful public offering of CECT will further push forward the Chinese mobile phone industry for sure.

Those CECT listing articles are a month old and public domain. Also are not from XING management, but journalist so just more of the same speculation (with probably some help behind the scenes from friendly un-named XING insiders
Is there a reason for posting them now?

I don't understand this lack transparency from the company!

Hi,
just again the latest analyst report from end of November,
we are coming near to the 3SoF stop 
cheers
Ò.

Qiao Xing Universal Telephone "buy"

Wednesday, November 29, 2006 3:46:21 AM ET
JM Dutton & Associates

NEW YORK, November 29 (newratings.com) - Analysts at JM Dutton reiterate their "buy" rating on Qiao Xing Universal Telephone Inc (ticker: XING). The 12-month target price is set to $17.44.

In a research note published yesterday, the analysts mention that the company has reported its preliminary 3Q sales short of the estimates. Qiao Xing Universal Telephone has posted its income from operations as well as gross profits for the quarter ahead of the estimates. The company is expected to post robust 4Q results, and is likely to generate nearly one-third of its annual sales during the quarter, JM Dutton adds.

This stock makes me want to bang my head against the wall. 

is XING "officially" stopped out?

With a bleeding heart we were stopped out today. That is why we have a stop 

XING brook several important resistance levels today so even though there fundamentally is no change it seems that the market didn't like this news:

QuoteDOW JONES NEWSWIRES
Qiao Xing Universal Telephone Inc. (XING) on Tuesday registered with the U.S. Securities and Exchange Commission to allow for the sale of up to 4.04 million shares of common stock from time to time by selling shareholders.

DKR SoundShore Oasis Holding Fund Ltd., Cedar DKR Holding Fund Ltd., Worldwide Gateway Co. Ltd. and OTA LLC were listed in the SEC filing as the selling holders.

The company said the shares offered will be issued to the selling holders upon conversion of their outstanding convertible notes and upon exercise of their outstanding warrants.

Qiao Xing Universal said the holders will receive all of the net proceeds from the sale of the shares, but the company may receive up to $7.8 million from the exercise of warrants.

No underwriters were listed in Tuesday's SEC filing.

Qiao Xing Universal, based in China, makes and distributes telecommunications products. Its shares closed Monday at $13.14 each.

It is always concerning when large shareholders are selling shares. Do they know more than we do? In this case they are converting warrants and are announcing that they might sell the resulting shares, which is only a fraction of the shares they are holding.

So there is no dilution but some shareholders that might lock in a portion of the profit from a very profitable investment.

3SOF has done the same (except that we had to sell our total holding). This has been an excellent trade. I still think there is a lot of money to be made on XING but: plan the trade; trade the plan.

Now that doesn't mean that you can't plan another trade so stay posted 

Quote from: Michael on December 12, 2006, 06:44:25 PM
With a bleeding heart we were stopped out today. That is why we have a stop 

Michael,

Very nice gain on XING.  Good job! Applause.

Quote
Now that doesn't mean that you can't plan another trade so stay posted 

The break of the Descending Triangle on November 28 put a target of 10.60 IN PLAY. 

The trendline from the Symmetrical Triangle (Blue #1 and #3) comes in today at 10.73.   It drops a little each day.

The 200DMA currently is 11.06.

Given yesterday's break on fairly heavy volume, which was about as heavy as it was on the break of the Descending Triangle, XING looks like it might want to go down in the coming days and test 10.60 - 11.06 for support.

Something to watch.  Good luck!