Friday, August 8, 2008

Bookkeeping: Limit Order for China Medical (CMED) Hit Yesterday

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I highlighted the excellent China Medical (CMED) earnings Tuesday premarket [Aug 5: China Medical - Back on Track; Valuation Should be Higher] and was not at the computer most of Tuesday so missed the move up; Wednesday morning the stock was up 18% from where I had pointed it out so instead of chasing I wrote

I'll stick a limit order at the top of this gap and see if we can snag it on an inevitable pullback.

So instead of chasing it up in the $53s, or $54 - I placed a 300 limit share order @ $50.50 which hit late yesterday. I added another 100 shares this AM in a similar price level. Therefore China Medical is now a 1.9% stake in the fund as we continue to change the focus of our holdings. As you know healthcare (and airlines) are the new fertilizer. I'd like to add to this position in the mid $40s. It remains dirt cheap, even at $60+.

Long China Medical in fund and personal account


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