Tuesday, February 26, 2008
Stocks to watch
Another one to watch is China North East Petroleum (CNEH.OB) - expected to report record quarter in a few weeks with very nice revenues and profits. Production levels have already been preannounced. The stock has been trading in pretty tight range for some time now. I believe the stock has a good potential to appreciate significantly in 2008 and beyond, especially with oil trading at $100+. Financing is also expected shortly, which should assure that the company has enough money going forward for operations.
Next one on my list is China Grentech (GRRF). In the past few months it reported number of big contract wins in the Chinese wireless sector. Now look at the earnings reported by China Techfaith Wireless Communication Technology (CNTF) today. GRRF is expected to report earnings in couple of weeks (around March 12th). The stock has been trading sideways lately and has a great potential to appreciate from the current levels.
Finally, I have to mention AAAC.OB one more time, as the big blocks continue, and as reported in SEC filings today, Jeff Feinberg and his funds now have roughly 195k more shares than was reported 2 months ago in December. Buying continues, as we wait for the merger to finalize. I think we should see extention of Equity Agreement within a few days, as it seems like the deal will not be made by February 29th. Patience is needed here.
Good luck to all.
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