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It was discovered, (not by me), that the earnings estimate for 2008 was
in Yuans and not U.S. dollars. I had 5 web sites all
reporting it in U.S. currency but the news release from the company
clearly stated that was not the case. Since 1 yuan = about 14
cents, U.S., the estimate of $7.00 a share suddenly became about $1.00
per share.
Forced to deal with this fact and the false information I was reading
everywhere, I had to do the research all over again. After doing
that, I came to the conclusion that $1.00 is very low and I would expect
something in the $3.00 range. If I'm right, and with a PE of 15,
that makes it a $45 stock in 2008 plus or minus hype and mania. It
is currently trading at a PE of nearly 100 based on 2007 expectations so
obviously if that held up through next year, it could go to $100 or $300
.. or, it could all go up in smoke.
So, I am sliding a stop which will guarantee me a 300% return on my
investment and will make new decisions as factors warrant. Also,
should I get stopped out, there is little doubt I will get back in if it
drops much further. Again, I apologize to all who I may have misled
about the firm's earnings but most sites are still reporting the mean
estimate for 2008 as $6.87 U.S.
Bob
At 02:54 PM 1/5/2008, you wrote:
Just curious,
Bob. Have you changed your mind about SOLF being a potential $100
stock in 2008? If not, why get stopped out by temporary market
action? Or do you just subscribe to the philosophy that you can't
go broke taking a profit. In any event, although I am not a
frequent contributor (twice/year average), I read every piece and always
appreciate your ideas. Incidentally, my wife still has CHK in her
retirement account, with a nice profit, thanks to you.
Larry
- ----- Original Message -----
- From: BobsKC
- To:
realtraders@xxxxxxxxxxxxxxx
- Sent: Friday, January 04, 2008 6:28 PM
- Subject: Re: [RT] todays stars
- Thanks Ben. Also, SOLF was up 2% (.69) on 4.3 mil shares.
It's getting close to a 4 bagger now and I'm sliding a stop behind
it.
- Bob
- At 01:01 PM 1/4/2008, you wrote:
- HGSI
- and
- ADM
-
- up nicely in big down mkt
- with VERY good volume confirmation
- Ben
- No virus found in this incoming message.
- Checked by AVG Free Edition.
- Version: 7.5.516 / Virus Database: 269.17.13/1210 - Release Date:
1/5/2008 11:46 AM
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