Our one Chinese small cap is showing some life all the sudden. This has to be one of the cheapest stocks in the market relative to growth rate, and with earnings later this week (the 12th) this is a name that could pull an earnings surprise and rocket overnight 20%. But I'll leave that to the gamblers. Technically the stock has run into old highs so either it is about to make a double top or break out over this level. Obviously the former is bearish and latter is bullish. Volume has been huge the past 2 sessions - hmmm! Perhaps it hit a daytrader's board or something.
I'll take half off the table here with just under a 10% gain, and let the other half run into earnings.
I just re-entered this position July 26th.
Spreadtrum Communications, Inc., a fabless semiconductor company, designs, develops, and markets baseband processor solutions for the mobile wireless communications market. It sells products directly to brand manufacturers, independent design houses, and original design manufacturers primarily in the People's Republic of China, Hong Kong, and Macau.
Long Spreadtrum Communications in fund; no personal position
x
Monday, August 9, 2010
Bookkeeping: Cutting Spreadtrum Communications (SPRD) in Half
Posted by
Mark
at
3:20 PM
Bookkeeping: Cutting Spreadtrum Communications (SPRD) in Half
2010-08-09T15:20:00-04:00
Mark
Spreadtrum Communications|
| Edit This Post |
Create A New Post
Labels: Spreadtrum Communications
Bookkeeping: Cutting Spreadtrum Communications (SPRD) in Half
2010-08-09T15:20:00-04:00
Mark
Spreadtrum Communications|
Best Of FMMF
- Blogroll
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows
