Is SSRX the Next JRJC
3S Bio Inc. (SSRX) was up more than 15% on volume 1,500% larger than the 50-day average. The volume was 15 times greater than the average after a large volume boost yesterday as noted by Trading Goddess.
China Finance Online Co. Inc. (JRJC) has blasted higher by 320% over the past month on tremendous volume. No, I didn’t own it!
I wouldn’t have noticed SSRX either except for a quick highlight on a few blogs I read and a modified research screen I ran this afternoon. The overall daily volume in SSRX is slightly lower than the parameters I typically search.
In any event, I know about it now and have a decision to make: would I like to join this dangerous party. A run to $30 is not out of the question based on the recent infatuation with Chinese stocks (similar to our tech stocks of the late 1990’s).
I will look to grab a small position in the AM tomorrow (keep my exposure low due to a lack of an ideal risk/reward setup).
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Chris,
what is your take on JRJC going over the roof within one month??? Do you think its justified?? P/E is around 400. Company had a net loss of 600,000 in 2006. It was trading flat for almost two years and all of a sudden such a big jump. I just can’t see any reasons why.
I have one reason for you: It’s from China.
The same reason dog shit “.com” stocks went from $20 to $200 in 1998 and 1999.
Human nature will NEVER change!
Hi Chris,
Thank you for the link. It is appreciated!
What is your take for the future of the China stocks, if you don’t mind me asking. I have been long them until the Olympics. I talked with someone recently who said he thinks China will be strong for the next five years! wow! What say you?
Trading Goddess,
I just uploaded some charts that may tell you what I think coul happen. For right now, I am bullish until the trend changes. No guess work here!
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