Sunday, February 24, 2008


Lets look at a few china stocks.


Aluminum has had a huge run last week. The stock is up something like 30% in the week. Since it is at a round number resistance of 50, I would be waiting for a pullback to the $45 area to buy some.


This is now trading in a range between 70 and 80. I would be a buyer at 70 with a close stop at 69. If this stock manages to break out of 80 there could be a temporary pullback before it continues its move up.


CMED is in a very nice uptrend with the bottom trend line being the 100 DMA. Right now it is trading at the higher end of the trend, so a pull back to the 100 DMA would provide a great entry point, around 48.


PTR is in a pretty bad downtrend. It is down about 50% from its highs and is trading within the 125 and 160 range. More consolidation is needed for this stock to form a base. I would be a buyer at 140 or at a breakout of 160.