Salford exactly, its only worth 150p when you take into account the amount of profit it made (tax free by the way) and its 20 million of assets and then also the downside on its cash flow predicament.
Its been puffed up beyond recognition.
Looks like the IC as the dagger out today.....
INVESTORS CHRONICLE
The Chinese Bubble:
*China Shoto (CHNS.L) - Griffin Mining (GFM.L) - Prosperity Minerals (PMHL.L) - Renesola (SOLA.L).
would not really want to be proved right, though if it happens, it would be tempting to stick 2 fingers up to certain members here (and on other Chinese stocks) to say "Told you so!"
Glad I closed my trading play while the losses involved were barely more than deal costs.
Trend does not look encouraging since the SP was 560 a month ago, so I would not take a long position at the moment. Potential shorters can make up their own minds; I'm content to stay away.
I guess if the SP breaks downwards (accompanied by volume), then it's worth a short. On the other hand, why not just start the snowball rolling right now ;o)
quick rush of blood to the head here though volumes are nothing to talk of ....... i watch with interest with no inclination to go either long or short as either call could easily go badly wrong.
and that could surely be tempered by further cash calls .... however, if your (one's) belief is that shares are actually worth 600+ as they were a few weeks ago, then arguably some "bad" news is already factored in