September 27, 2007
Stock Du Jour (JRJC) & Random Observations
Very strong morning, bit of a reversal in early afternoon but a good solid close.
Notable New Lows: Every single homebuilder, so… Homebuilder SPDR (XHB), Borders (BGP), Knight (NITE), Robert Half (RHI), Vonage (VG) — Ever seen a $0.96 Happy Meal?
Notable New Highs: Humana (HUM), MGM (MGM), Praxair (PX), Colgate Palmolive (CL), Hansen (HANS) — this soda costs $4 a can in Beijing; Verifone (PAY), Cisco (CSCO), Nvidia (NVDA), Research in Motion (RIMM), Monsanto (MON), and Brazil (RIO).
China Finance Online (JRJC) has gone straight up on huge volume of late… I have no idea what they do or what’s going on but I do know it has a float of only 20 million shares. Here’s the weekly chart since JRJC listed in 2004:
Cat: | Time: 8:42 am (utc+8)
September 27th, 2007 at 9:44 pm
My 100 share of CPSL did the same thing. I guess the retail investors just want to bid up anyting with “China” in its name.
September 27th, 2007 at 11:43 pm
That nice pop in the homebuilders after the Fed rate cut announcement last week sure was short lived! Even a strong overall market can’t keep those stocks afloat.
October 10th, 2007 at 7:42 pm
JRJC is actually not as overvalued as you may think, especially if subscriber growth to their stock services increases at more than 20% growth….
Heres why