CHNR what a day

Quote from Sniemiec:

I wanted to go long but I didn't wanna chase it higher. I waited for a turn around and jumped in. Small short position for now.

What an amazing run though!
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I got 100 shares, but closed it pre-market at a loss. No use trying to fight this thing.
 
Quote from Comanche:

This stock is a fucking joke!! Nothing but a powerful sounding name to sucker in buyers. The Chinese are indeed sneaky.

Check out the company profile on yahoo-

BUSINESS SUMMARY
China Natural Resources, Inc. engages in mining zinc, iron, and other minerals for distribution in the People's Republic of China. It owns mining rights in two mines, The Yang Chong mine and the Zao Yun mine located in Wuhu City, Anhui Province, the People's Republic of China. The Yang Chong mine contains iron and zinc minerals and has a total mining area of 0.186 square kilometers. The Zao Yun Mine contains iron minerals and has a total mining area of 0.0136 square kilometers. The company was incorporated in 2004 and is headquartered in Sheung Wan, Hong Kong.

To make the math simple, your back yard is probably bigger!
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i'm soooo bummed i can't get shares to short.

looked at the filing today.
practically no earnings growth and a 80 forward PE. (8M US in earnings against 13.5million shares. .59/yr earnings against share price of 48)

http://biz.yahoo.com/prnews/070919/dcw044.html?.v=1

look at the y/y numbers. Thats like 10% earnings growth. Stock is at least 6 times above fair value (which is 8-10)

for some reason IB isn't letting me short CPSL and JRJC like yesterday as well... maybe everyone else is already short...
perhaps its a sign to wait a little.

believe it or not, this stock makes JRJC look cheap.
 
I was watching this one on Friday, and thought about getting in on 02 October, after it closed at 16 on 01 October. I woke up late, and found the stock trading at 22 on Tuesday, so I passed. On Wednesday I gave in, and got in buying 400 shares at 37.30.

Sold today, Thursday for 46.95. I thought about staying in for 48 minimum, but these moves are dangerous in my opinion. It is easy to get sucked in and find yourself with a large loss versus.
 
Quote from Comanche:

This stock is a fucking joke!! Nothing but a powerful sounding name to sucker in buyers. The Chinese are indeed sneaky.

Check out the company profile on yahoo-

BUSINESS SUMMARY
China Natural Resources, Inc. engages in mining zinc, iron, and other minerals for distribution in the People's Republic of China. It owns mining rights in two mines, The Yang Chong mine and the Zao Yun mine located in Wuhu City, Anhui Province, the People's Republic of China. The Yang Chong mine contains iron and zinc minerals and has a total mining area of 0.186 square kilometers. The Zao Yun Mine contains iron minerals and has a total mining area of 0.0136 square kilometers. The company was incorporated in 2004 and is headquartered in Sheung Wan, Hong Kong.

To make the math simple, your back yard is probably bigger!
More...



The larger mine is equivalent to about 30 football fields, and the smaller one is the size of about 2 football fields. You must live on a ranch in Montana if your back yard is that big!
 
Quote from pbj:

The larger mine is equivalent to about 30 football fields, and the smaller one is the size of about 2 football fields. You must live on a ranch in Montana if your back yard is that big!
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Texas to be precise!
 
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