CHINA

[rickjust]

hi,
back in at 850 on the support line (849) 
max

[rickjust]

hi,
out at 897,. failure to hold 9 and double spike top at 920 925.
5.52% profit
maxi

[David Randolph]

hi,
out at 897,. failure to hold 9 and double spike top at 920 925.
5.52% profit
maxi

Hi Maxi, keep posting your day trades on CHINA, I want to make a test here. You day trade it and I just buy and hold, and when I sell it we'll see who has the biggest profit. Allright? This will be interesting to see if you can beat a bullish trend, by selling high and buying on retracements.

So far I have a 26.99% profit, having bought at $7.04.

You bought at $7.20, sold at $7.28 (+1.11%). Bought at $7.64 and then you said "sold the rest at $9".  What was your average selling price? Let's assume it was $8.80 (+15.18%). Then you bought back at $8.5 and sold at $8.97 (+5.53%). Your total profit was 21.82%, less than my 26.99%, without taking trading costs into account (actually even I was surprised by these results, I thought you were ahead with those beautiful swings).

My point is: you can't beat it. Nobody can. If you're willing to, prove I'm wrong . If you're not, no problem, keep those posts coming anyway

Thank you.

Coming back to CHINA, there were some news out today that 422fwhp posted:    China.com Shareholders Approve Major Mobile Acquisition

It's not a big acquisition, just $15.7 M. They say the company acquired had a $3.5 M net income in 2005, so the trailing earnings multiple is 4.49. Cheap, cheap.

Still not ready to push towards $10, but look at that volume ... it won't take long to see $10 crossing on your ticker.

[rickjust]

hi,
i have no doubt that you will beat my percentage . but i have to find my way in trading
and one of the things that i failed at the most is not selling when i should have.
so really i am just practicing pulling the trigger which has been the hardest for me.
i saw the pullback to my support level this morning and i jumped on . i saw the lack of commitment (albiet short term ) above 9 so i bailed. so today's trade was very satisfying for me.
also i have a very small account, (very small!)  so this works for me . my trading cost is $1 per trade so commisions is not an issue for me at the moment.
i am still learning but i am feeling much better about my trading every day as i get stronger in my conviction. it is important for me to follow my own plan. as you know , even when you are wrong you have the satisfaction of knowing you were the determiner of your fate.
hope i can get back in lower . lol
maxi

[David Randolph]

Lol, I like your thinking, I like it a lot ! Let me applaud.

I also hope you can get back in lower, say ... $8.96?

[rickjust]

Lol, I like your thinking, I like it a lot ! Let me applaud.

I also hope you can get back in lower, say ... $8.96?

896!! at least that will cover my commision
thanks for the applause,
maxi

[David Randolph]

There were some news yesterday, but not relevant for the stock price over the short term: China.com, Meetic to Roll Out Dating Site

The higher open didn't provide fuel for a bullish breakout of the $9.20 - $9.25 resistance area. Volume declined on this small day.

If you're on this one since the low $7's like I am and you watch the intraday, tell me something, don't you feel like taking profits when it goes down below $9? Or feel like "it's going to $10 today" when it comes up from below $9 to above $9?

I don't know if I can explain myself correctly, but these round numbers have this psychological effect on traders. People that buy above $9 tend to stop when it breaks below $9, as they feel "oh my, support is gone". And people that sell or short the stock below $9, when they think "now is the time for CHINA to correct 10%", quickly buy/buy to cover when it comes back up above the $9 "resistance level".

The fact is that $9 is irrelevant from a technical perspective. There's no support or resistance there on the chart, only in our mind. So the market, as always, makes its best to hurt the majority of people and is playing that game now.

Longer term, all this thinking is kind of useless. I'll continue holding CHINA.

[rickjust]

hi,
i may get a chance to get in at the 9 day or just above.
looking for 850s to 870s. if i miss it then a strong break of the 920s will do. this one has been
volitile and can take off at any moment.
glta holding.
maxi

[David Randolph]

Hello rickjust, nice photo

CHINA closed above $9, and that's a first for this move. The stock is clearly in consolidation mode.

When the consolidation phase ends it will make another white marubozu to $10 or more. Volume is drying, and I guess that means there aren't much more shares for sale at current levels.

Nothing new on the fundamental or technical front, I'll continue holding CHINA (it's so much easier to let the profits run when they're bigger than 20%, isn't it? Well, it should be)

[rickjust]

back in 887
hit the 5day again
maxi

P.S.
still looks a little weak today ( with the market) i will add if it comes to the 10ma

[David Randolph]

It's good to have you back on CHINA rickjust

Nothing new happened on the technical or fundamental front, I'll keep on holding CHINA.

[rickjust]

It's good to have you back on CHINA rickjust

Nothing new happened on the technical or fundamental front, I'll keep on holding CHINA.

thanks david,
we will see tomorrow . may still come back to the 10ma. it is in one of those holdiing patterns.
the market looks weak with the u.s. dollar but this stock has the ability to move up like frpt did on friday.
glta
maxi

[kslifka]

CHINA looks like it's ready to put in a new 52 wk high maybe today.

[rickjust]

hi,
breakout starting now with china.
already trading 18mill. shares broke through some reistance at 910
rock on,
maxi

[David Randolph]

hi,
breakout starting now with china.
already trading 18mill. shares broke through some resistance at 910
rock on,
maxi

Didn't quite make it yet, but it's just a matter of time for CHINA to close above the $9.20 - $9.27 short term resistance level and push towards $10.

Today the company announced a small acquisition, as they are using the money they raised on November 15: CDC Software Expands Services Portfolio Through Acquisition of Leading Provider of IT Support and Managed Services
Business Wire (Mon 8:00am)

There's nothing else to do with CHINA but to sit down and watch it rise.