Friday morning I decided to cover (MBI) at $13.95 and decided increase my position in (CAGC) by 50% at $2.40. With regard to MBI, the news of Countrywide being bought and the rumors of WM getting taken out is probably going to lead to a short squeeze over the next few days from what is a very oversold condition. With regard to CAGC, the stock has shown that it is pretty much done going down, and I still think it represents great value. With today’s farm report in the US showing continued very tight supplies of agricultural products, the ag bull market looks poised to continue. There aren’t many ag plays out there and they are very expensive at the moment, so I think we could see a big run into CAGC once it gets noticed.
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This article has 1 comment:
er
we should know that is 88% ofthe shares are controled by insider and investors
one of them : goldman sachs credit with 1 mil shares
44% for insider and 44% for 20 investors
also, China Agritech has engaged Ernst & Young to assist the Company in becoming SOX 404 compliant. WHIS IS a requirment to be listed in american exchange
so, they have the market maker already and the net incom required only one step.
regarding production they will start 200,000 mt in 2008, current production is 13,000 mt