FUQI International (FUQI)

Re: FUQI International (FUQI)

Postby persistentone » Tue Jun 30, 2009 6:04 am

kennynah wrote:wah piang eh....just in last 3 months... FUQI price jumped from a low of ~$3.30 to this month's high of $20.36 (established in today's trading session).... wow wee ~600% bagger... no horse run....


My cost basis on them is at $6. I actually started to study them at $4, but I couldn't believe how good the financial metrics were and took some time to convince myself they were a real company. At their low, the company was returning the entire investment in about one year of earnings. Now I think they have gotten a little ahead of themselves, but I view it as a five year hold so at most I will sell covered calls on about half the position if they continue this manic run.
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Re: FUQI International (FUQI)

Postby kennynah » Tue Jun 30, 2009 8:53 am

are the options chains good for this counter?
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Re: FUQI International (FUQI)

Postby persistentone » Wed Jul 01, 2009 1:16 am

The options situation with FUQI got much better within the last month. CBOE was the only market maker for a while, but I contacted the others and managed to get Philadelphia into the game. We we have at least two market makers now, and Philadelphia does seem to be writing a good part of the volume.

I noticed that everyone here uses the word "Counter" for "Stock". Is this a Hong Kong English or Chinese expression for a stock symbol?
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Re: FUQI International (FUQI)

Postby blid2def » Fri Jul 17, 2009 7:27 pm

Interesting chart developing on FUQI:

http://stockcharts.com/h-sc/ui?s=FUQI&i ... istNum=21#

A few divergences of note in the last 3 sessions as prices go higher:
1. Volume has been falling as prices climb

2. For Ichimoku watchers - Tenkan-sen is actually dipping while price is moving up - meaning there's been no new high in the past 9 days despite the last 3 sessions' moves up.

3. MACD (or PPO in this chart) making lower highs and lower lows

Other observations gleaned from the weekly chart:

1. RSI shows massive overbought condition (though this can happen during a strong uptrend as well):
- http://stockcharts.com/h-sc/ui?s=FUQI&i ... istNum=21#

2. 9/26 period MACD (PPO) histogram is closing downwards - this is a 2nd derivative that hints the 9- and 26-period MA's could be converging (most likely the 9-period bending down)

3. Very obscene volume jumps since May. This looks very fishy...

Dinner time! Hmm... well, it's actually dinner time here. See ya! :D
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Re: FUQI International (FUQI)

Postby blid2def » Fri Jul 17, 2009 7:31 pm

Oops, missed this out:

Image

Are we going to see a right side shoulder top at 22?
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Re: FUQI International (FUQI)

Postby iam802 » Thu Oct 15, 2009 12:09 am

This little darling that has rallied up so fast is finally breaking down.

The bearish Tenkan sen Kijun sen cross is sighted and it is now just sitting above the kumo for support.

Possible support at $26 and $24.

Image
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: FUQI International (FUQI)

Postby iam802 » Thu Mar 18, 2010 7:50 am

This used to be a darling for CANSlim...now, it has joined the 'S-Chips' gang.

---------
Roy Jacobs & Associates Investigating FUQI International, Inc. for Possible Securities Law Violations (“FUQI”)

http://www.businesswire.com/portal/site ... ewsLang=en
NEW YORK--(BUSINESS WIRE)--Roy Jacobs & Associates announces that it is investigating possible claims for violation of the federal securities laws on behalf of purchasers of the common stock of FUQI International, Inc. (“FUQI” or the “Company”) (NASDAQ: FUQI) during the period from June 1, 2009 through March 16, 2010.


On March 16, 2010, FUQI revealed accounting irregularities that resulted in the Company overstating its reported earnings for the first nine months of 2009. FUQI also announced that its revenue and profit was below the Company’s expectations in the fourth quarter. The Company reported that it would have to delay the filing of its annual report. In reaction to this news, FUQI shares plummeted from $19.00 to approximately $12.25, a 35% decline.

.....
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: FUQI International (FUQI)

Postby iam802 » Thu Mar 18, 2010 8:13 am

FUQI : Ichimoku Case Study

---
FUQI just announced that it has accounting irregularities for the past few quarters and that sent the stock plummeting by more than 30%.

I miss the boat when FUQI breakout of the kumo resistance and did not partake in its rise from $6 to about $32.

Having said that, FUQI represents a very good case study for Ichimoku as it has went one round of bullish signal and bearish signal.

Let’s have a look at the Ichimoku chart.

FUQI.png


1. FUQI makes it first move when it breakout of the kumo resistance back in April 30, 2009. On the day of the breakout, the price went as high as $5.94 and we will use the high as an entry (we assume that we get the worst possible price)

2. After which saw the rise of FUQI from $6 to $25 in September where there is a small cross but without much heavy selling. As such, during trading, we can decide to take a profit or leave it as it is.

3. The big sell signal appears somewhere in October, 2009 when it breakdown from the peak and closes the gap and along with it, we can see the Tenkan sen crossing down rather aggressively (look at slope of Tenkan sen) and the Kijun sen is flattening which suggest the trend may be coming to an end.

4. From then on, there isn’t much strong buy signal. But a very strong sell signal appear during November, 2009. A one day reversal is noted right after its earnings results. Despite beating market estimate, there is a huge sell down on high volume. That, in my opinion is probably the last ’safe’ day to get out.
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1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

TA and Options stuffs on InvestIdeas:
The Ichimoku Thread | Option Strategies Thread | Japanese Candlesticks Thread
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