As the following table tracking top movers from the China ADR universe, Yanzhou Coal (YZC) - China's third largest and only U.S. listed coal miner - is taking the top spot. The stock is trading $2.30 higher vs. yesterday's close. Is it a technical rebound? Absolutely! How do we know? Check this out: Yanzhou Coal (YZC) : Is it oversold? - a post on this very same blog dated June 20, Friday. Here is the quote:
"Going back ot Yanzhou Coal: a temporary freeze on coal prices means previous earnings calculations are off the window. So it's time to readjust YZC to new regulations.
Going back to the original question, if YZC is oversold - the answer is YES! With that in mind a technical correction could swing back YZC $5-$6 next trading day. However given current negative market sentiment, a sentiment that is most likely to spill over to Asia on Monday, investors may have to wait until Tuesday to short all YZC holdings. If I had excess cash, I'd buy YZC later today and short it on Monday or Tuesday. Hope you make money!"
Had you followed this advice, you were up 3% as we speak - just in a short three trading days. Not bad...
| TOP MOVERS |
6/24/2008 11:30 |
|
|
Symbol |
Price |
Change |
Change% |
|
|
|
|
|
|
YZC |
88.27 |
$2.30 |
2.68% |
|
FMCN |
27.66 |
$1.31 |
4.97% |
|
CTRP |
47.52 |
$1.09 |
2.35% |
|
CN |
54.07 |
$0.95 |
1.79% |
|
LDK |
39.88 |
$0.57 |
1.45% |
|
|
|
|
|
|
CEO |
166.79 |
$0.46 |
0.28% |
|
CHL |
68.88 |
$0.41 |
0.60% |
|
HTX |
21.36 |
$0.38 |
1.81% |
|
CHU |
18.25 |
$0.37 |
2.07% |
|
CHA |
56.16 |
$0.34 |
0.61% |
|
|
|
|
|
|
SOLF |
19.97 |
-$0.78 |
-3.76% |
|
ZNH |
21.10 |
-$0.87 |
-3.96% |
|
CEA |
32.16 |
-$0.94 |
-2.84% |
|
SHI |
36.83 |
-$1.18 |
-3.10% |
|
HNP |
29.55 |
-$1.48 |
-4.77% |
|
|
|
|
|
|
SNP |
97.70 |
-$1.49 |
-1.50% |
|
ACH |
29.14 |
-$1.90 |
-6.12% |
|
PTR |
131.19 |
-$2.66 |
-1.99% |
|
SOHU |
72.53 |
-$3.30 |
-4.35% |
|
BIDU |
309.39 |
-$9.47 |
-2.97% |
Regarding long term perspective for Yanzhou, you need to become a Chinavestor subscriber and talk to one of our associates.
Not a subscriber yet? Chinavestor Basic Membership for $20/month. To subscribe, click here.