I bought some CHID this morning, based on a nice write-up from Briefing.com. Essentially, they make component parts for mobile device makers in China, have real earnings, are growing at 140% per year and according to Briefing, a forward PE of just over 8.
At about a dollar a share, seems like a decent speculation on both cell phones and China, two hot sectors in this market.
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9 comments:
Allan, are you based in Seattle? I have a degree in Computer Science and Math from the UW and have been working as a marketing consultant. Anyhow I have made my living over the past 2 years as a trader though. I'm interested in learning the business and developing a system. I'm interested if you are looking to hire someone part time or full-time. I would like the experience of working with someone successful in the business.
Thanks,
Brian Bigelow
bgbigelow@gmail.com
Brian, thanks for the offer. We're in Spokane right now and not in need of any help, but that could change with another hedge fund to manage, i.e. both location and need for help.
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It appeared on Breifing at 12:14pm today.
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Today's "InPlay" from Briefing Trader ($300/mo) service.
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Boy, XDSL is sure taking it in the shorts lately. What gives?
What do you think of LNOP
Allan,have you ever back tested the picks from the $300 a month service?
Ron, no, it would be a daunting task, as they post hundreds of ideas a day, long and short. There are two of us here, we read each news story and after about a year of doing this have a feel for which ones might be worth a trade. We average 2-3 a day, of which one gets stopped for a small loss, one ends up break-even, and one generates a huge profit.....all on average. Is it worth it? We pay for the subscription easily with the "huge profits" but its also a pain to keep up with it all day long.
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Ron, it's worth learning how to trade with briefing.com as you go, using small positions, not chasing stocks up, and setting stop losses. Back-testing would be a good idea, but i'm too busy, and probably too lazy. Also, back-testing doesn't tell you the actual price you get in at, which is often substantially higher than the price at the time of the post, so you end up greatly overestimating your imaginary returns. Sometimes, they make great calls - you get a feel for figuring these out, but after about a year, it's still often a guess.
Form CHID today:
"We continue to project revenue of $30 million and net income of $10 million, or $0.13 per fully diluted share, based on the successful completion of the two acquisitions. We believe the future of our business is very strong, and as I have stated previously, I intend to purchase up to 1 million shares of the company in the open market by June 20. I have already begun to buy shares"
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