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Stock specific news dominate China ADR trading

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birthday_1November 13, 2009 (Chinavestor) Yingli Solar (NYSE:YGE) and Rino International (NASDAQ:RINO) announced third quarter earnings before the bell this morning. Strong earnings helped China Automotive Systems (NASDAQ:CAAS) and Ctrip.com (NASDAQ:CTRP) to stay ahead of the game yesterday. Strong passenger traffic growth and lower oil prices helped China Southern Airline (NYSE:ZNH) and smaller China Eastern Air (NYSE:CEA) to outperform the market. Sinovac (AMEX:SVA) had a strong day offering trading opportunities. With a slew of economic data in the pipeline for today, expect an exciting Friday to come.

Rino International (NASDAQ:RINO) is up 21% in pre-market trading following much better-then-expected earnings. Rino International (NASDAQ:RINO) not only reported record Q3 but guided fourth quarter revenues higher, a proven catalyst for any stock.

Yingli Solar (NYSE:YGE) swung back to profit and reported an improved outlook for the rest of the year this morning. Shares of Yingli Solar (NYSE:YGE) are trading 2.4% higher in pre-market trading following the news. Interestingly, the street wasn't expecting much from Yingli Solar (NYSE:YGE) yesterday, sending its shares 5.4% lower by the end of the day. But as we've been arguing, Chinese solar sector surprise, solar stocks are up for a big surprise - something that's been proven right so far. Next week is going to be the big week for solar stock though - industry heavy weights are going to report SuntechSolar (NYSE:LDK) included. If they will come out better then expected, expect smaller stock to follow suit. This suggests more upside for Yingli Solar (NYSE:YGE) as well. Power (NYSE:STP), Trina Solar (NYSE:TSL) and LDK

One of the best stocks of the last week are Chinese airliners. We've been arguing that the sector is oversold and ready for a comeback. The overbought/oversold report said on November 2 "Oversold China Stocks to Shine on Monday" that "Chinese airliners, China Southern Airlines (NYSE:ZNH) and China Eastern Air (NYSE:CEA), are oversold. Both companies are priced below their trading envelope with a significant loss of momentum. But when markets rally, oversold companies typically outperform." Both companies have significantly improved since then.

Sinovac (AMEX:SVA) advanced 8.2% to $9.59 ahead of next week earnings. Sinovac (AMEX:SVA) is going to report on November 16  before the market  open and is planning to list on NASDAQ this year. With so much excitement and volatility in the past, a big number of investors have a lot at stake next week. With an almost 30% run in the last five trading days, short term upside is limited for the stock. While we don't know what earnings the company is going to report, one thing is for sure: Sinovac (AMEX:SVA) is going to jump or fall big on Monday. On a personal note I'd sell SVA at the end of the trading day today. Mark my words...

The big jump in Ctrip.com (NASDAQ:CTRP) yesterday is reflected on the following chart. But as the overbought chart suggests, there is more upside left for Ctrip.com (NASDAQ:CTRP). And on a personal note, remember what I just said yesterday: "the ten percent jump by the open suggests that most of the gains are already incorporated into Ctrip's stock price. This in turn translates to DON'T BUY the stock after the open, it's going to trade lower throughout the trading day! "

And before I forget: today is Friday, time to update the weekly BUY stock list. If you want to know what stocks I like for next week, sign up for Advanced membership now. For detailed description of subscriber benefits visit the Premium Content page.

Most overbought China stock list

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On the oversold side I want you to take a close look at Tongxin International (NASDAQ:TXIC), this Chinese commercial vehicle parts maker.the company reported a 18.8% revenue growth YoY while net income grew by 83.4% YoY. P/E is 4.42... We're going to give this stock additional coverage in the upcoming days, looks that this stock is ripe for bottom fishing.

Most oversold China stock list

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Overbought A technical condition that occurs when prices are considered too high and susceptible to a decline. Overbought conditions can be classified by analyzing the chart pattern or with indicators such as the one above. A sharp advance from $15 to $30 in 2 weeks might lead a technician to believe that a security is overbought. Or, a security is sometimes considered overbought when the stock is trading out of its trading envelope and is approaching the theoretical high. It is important to keep in mind that overbought is not necessarily the same as being bearish. It merely infers that the stock has risen too far too fast and might be due for a pullback.

Oversold A technical condition that occurs when prices are considered too low and ripe for a rally. Oversold conditions can be classified by analyzing the chart pattern or with indicators such as the one above. A sharp decline from $30 to $15 in 2 weeks might lead a technician to believe that a security is oversold. Or, a security is sometimes considered oversold when the stock is trading below its trading envelope and is approaching theoretical lows. It is important to keep in mind that oversold is not necessarily the same as being bullish. It merely infers that the security has fallen too far too fast and may be due for a reaction rally.



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