XING

[AussieTrader]

I never saw XING confirm what day they would release the Q1 data, only that it was going to be this week.
Anyway, the more people wait the more nervous and trigger happy they'll get. Nice action today on the breakout.

[Michael]

I never saw XING confirm what day they would release the Q1 data, only that it was going to be this week.

Hi Aussie

Great day indeed but the confusion about the earning release is yet another example of how horrendous their investor communication is! Why not give us a date and time 

Anyhow it seems earnings will be out after the close today: http://www.companyboardroom.com/company.asp?client=cb&ticker=xing

As said before the Investor Relations at XING is appalling but then it might give us a nice buying opportunity today 

[la-onda]

additional info:
XING: Short Interest DN 20.0% to 765.2K in Jun 2006
Monday , June 26, 2006 16:21 ET

According to new short interest data from NASDAQ, short interest for Qiao Xing Universal Telephone, Inc. (NasdaqNM: XING) DECREASED 20.0% to 765,168 shares for the month ended mid-June, 2006.

SYMBOL               MAY            JUNE          CHANGE       %CHANGE   DAYS/COVER
--------   -------------   -------------   -------------  ------------  ----------
XING             956,171         765,168        -191,003       -19.98%           1

Based on XING's 20-day average daily share volume of 1,169,540, it would require approximately 1 day(s) of buying to cover this short interest.


great pick Michael, applaud again

[trexkerry]

As said before the Investor Relations at XING is appalling but then it might give us a nice buying opportunity today 

Judging by the activity in premarket it looks like this could be another big day for XING.  It has already passed $13!     I'm actually surprised because I figured it would get punished for the confusion.

[AussieTrader]

 
Tuesday , June 27, 2006 04:49 ET

BEIJING, Jun 27, 2006 (Xinhua via COMTEX) -- Cosun Group, the parent company of Qiao Xing Universal Telephone (Nasdaq: XING), plans to enter mobile phone chip R&D by investing in a Beijing-based chip maker, according to 21 century Business Herald.

Wu Ruilin, board chairman of Cosun, reveals that the group has decided to invest in the Beijing company and seeks a controlling share in it.

By now, Cosun has launched four R&D centers in China, respectively in Beijing, Shanghai, Shenzhen and Huizhou. Experts here predict that the company can reduce costs and raise competitive power by self- developing hardcore parts and components of mobile handsets.

With the world's largest mobile phone ownership, China's mobile phone market is dominated by foreign brands. Domestically produced handsets, with a market share of roughly 30 percent, mostly adopt foreign-made chips.

According to the financial report of Qiao Xing, it generated 31 million US dollars of net profit in 2005, growing by 987 percent year on year. Of the amount, about half of profit came from subsidiary CEC Telecom (CECT).

Besides, the company newly received a license to produce Cosun- branded mobile phones in China, which will be put onto mid- and low- end market.

Copyright 2006 XINHUA NEWS AGENCY.

[voova99]

According to "kevinstudio" from yahoo MB we have here another
CSCO  or MSFT ?! 

Or that is too good to be true   

http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=1600481351&tid=xing&sid=1600481351&mid=111042


Best,
Vova

[raspi]

Does anyone know what is going on with Q1 earnings that were announced for Monday then Tuesday and are still not out? I expect another selling day for XING as it seems like a total disrespect of shareholders... After a number of PRs last week I hoped their reporting improved but it does not seem to be the case....

[pompano]

I bought at 12.00 on Monday and will sell today at market open.  I really don't like to hold through earnings.  I thought I might give it a try, but the way these games have been played with investors the last 2 days is typical XING.   I always remeber some type of controvesy around this stock.  GL 

[raspi]

I will sell too, although I am really positive about this stock... I bought at $8...

[AussieTrader]

Hey Voova,

Kevinstudio has a lot of good XING information I like what he posts, he has been proven accurate many times in the past.

Rpisek and Pompano,
Q1 earnings were never stated by XING to be Monday or Tuesday, they always said 'shortly after 2005 results' All the dates from the various websites etc are purely speculative. I agree XING should give an accurate date, but they did not.

I will be holding, 2005 results were fantastic,I fully expect Q1 and 2006 onwards to be more of the same. If that pans out to be correct then I see XING gapping and breaking away to the upside.

Good luck in whatever you decide.

[raspi]

it has now been corrected and earning.com now shows Q1 results will be reported between 28.6.-30.6. in accordance with the last weeks' PR. I will set a stop limit to $11 and hold. Good luck to all.

[tokyopua]

Hmmm, looked like a dark cloud cover pattern forming since yesterday, and the drop in the AM seemed to be confirming it so I took my quick little profit.  May well just be people selling before earnings that is causing it, but that together with market uncertainty and I am quite happy getting a small gain.  Good luck to all holding still   

[rickjust]

hi tokyopua,
not a dark cloud cover pattern. first black candle above the half way point of the previous white candle.
but appluase to you toky, you locked in profits, that is always a good trade
Pattern: Reversal
Trend: Bearish
Reliability: High   
How to Identify it
First day is a long white day
Second day is black with an open above the high of the previous day
Second day closes within but below the midpoint of the first day's body.
max

[la-onda]

updated intraday chart; I have bought more 

[tokyopua]

hi tokyopua,
not a dark cloud cover pattern. first black candle above the half way point of the previous white candle.
but appluase to you toky, you locked in profits, that is always a good trade
Pattern: Reversal
Trend: Bearish
Reliability: High   
How to Identify it
First day is a long white day
Second day is black with an open above the high of the previous day
Second day closes within but below the midpoint of the first day's body.
max

Hi Max,

Thanks for pointing out the clarification, I realize it is not a dark cloud cover by the pure definition, which is why I said "looked like" a dark cloud cover.  I actually went to check Japanese Candlestick Charting Techniques by Steve Nison last night to check on the action with Xing wrt dark cloud cover.  He tends to allow for some variation in patterns, but makes distinctions for "likelihood of a reversal".  He says wrt dark cloud cover:

"The greater the degree of penetration into the white real body, the more likely this is a top.  Some Japanese technicians require more than a 50-percent penetratoin of the black session's close into the white real body".

In cases where it doesnt fully close past 50%, he recommends waiting for more bearish confirmation, but I felt like I was seeing that this morning where there was a rapid price drop right out of the gate.  And the Fed meeting has me worried anyway, so I decided to sell based on these combined factors.

The good news though is that there is also a region that should be support around 11.25 due to the gap up there, also a big Nison principle. 

Anyway, sorry for the confusion, and I hope XING zings its way higher from here!