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By Platinum Tiger

Four "crouching tiger" stocks in the 35 issue Rising China Stocks index have recently either reached new all-time highs or generated new technical buy signals, while two "drunken masters" have generated sell signals that were rapidly followed by buy signals or bullish moves in the space of a few days. All are worthy of investment consideration, though a couple have risen well beyond their ideal buying points. The stocks are:

China Electric Motor (OTCPK:CELM)
Current Price: $7.71 (new closing high as of April 12,2010)
52-Week Range: $4.44-$7.78
EPS: (TTM) 0.86*
P/E: 7.89x
PEG: 0.62*
Price Objective: $9.25

CELM, a favorite of ours since its IPO in late January, could become the Emerson Electric (NYSE:EMR) of China, and looks to have a great future. But it has set new record highs in each of the past five trading sessions, and with its 42 percent run-up during that time, it may be a bit extended. I'd wait for a pullback rather than chase this one.

Jingwei International (OTCPK:JNGW)
Current Price: $4.84
52-Week Range: $0.55-$5.02
EPS: (TTM) 0.35*
P/E: 13.8x
PEG: 0.59*
Price Objective: $6.50

JNGW reached a two-year high last week on the news that fourth quarter revenues more than doubled and EPS was up 125 percent. On a PE/growth basis the stock still looks like a bargain from here.

L&L Energy (NASDAQ:LLEN)
Current Price: $13.25
52-Week Range: $0.70-$14.91
EPS: (TTM) 0.88
P/E: 15.1x
PEG: 0.43*
Price Objective: $19.50

After its 140 percent run-up in the past two months, LLEN is taking a breather this week. Look for more upside ahead.

China Power Equipment (OTCPK:CPQQ)
Current Price: $3.42
52-Week Range: $2.70-$4.58
EPS: (TTM) -0.32
P/E: NA
PEG: NA
Price Objective: NA

After a bearish double-bottom breakdown of the stock on April 7th, CPQQ's CEO announced on Monday that a second factory that will quadruple the company's capacity for manufacturing transformer cores will come on line April 30. This led to a 16 percent pop and a possible near-term reversal to restore the stock's bullish action. For the moment, however, CPQQ is still in a bearish trend.

Jiangbo Pharmaceucticals (OTCPK:JGBO)
Current Price: $9.18
52-Week Range: $5.00-$14.50
EPS: (TTM) 2.03
P/E: 4.5x
PEG: 0.22*
Price Objective: $18.50

After a heavy and seemingly irrational 2 week sell-off, investors regained their senses and drove JGBO up by 22 percent on Monday on strong volume. This swiftly reversed a descending triple bottom alert that came last Friday into a strong Monday reversal, priming the pump for a run back to more reasonable valuation levels. Look for a convincing move above $10.00, then the next significant resistance level at $12.00.

Soko Fitness (OTC:SOKF)
Current Price: $4.88
52-Week Range: $0.10-$4.94
EPS: (TTM) 0.55*
P/E: 8.9x
PEG: 0.37*
Price Objective: $11.80

SOKF broke through an ascending triple top on March 23 and has kept climbing, setting a new record high on Monday. Momentum players have jumped on board and could keep the stock moving up.

* Based on C.O.P. fully-diluted estimates.

Disclosure: position in JGBO.OB, LLEN, SOKF.OB
Source: 6 Chinese Stocks to Consider at This Point