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by: Trader Mark posted on: October 06, 2008 | about stocks: Breathtaking... these small cap Chinese stocks simply have no support. A-Power Energy announces a massive sale of 50 of their wind turbines which is a significant amount of their capacity and the stock is down 27% as I type this. The stock was down near 50% in 2 weeks through Friday morning. I bought a tad Friday morning, the stock fell 20%. Today it is down nearly 30%. So since Friday morning it's cut 50%, on top of the previous 50%. Amazing. I am going to buy a bit more here because we are now approaching silly prices.... the company is, again going to make $2-$2.50 in 2009 and this contract pretty much guarantees it. Yet the stock is in the $4s aka 2x 2009 estimates and even on the $1.15 for 2008 it is now trading at 4x earnings. For 50% growth. Again... amazing.... [read full story]
