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InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype... More
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  • No Brainer Play Of The Day: China Precision Steel, Inc. (NasdaqCM: CPSL)...China Metals On Fire! 0 comments
    Jan 7, 2010 1:09 PM | about stocks: CPSL, SUTR, CDII.OB
    The no brainer play of the day is brought to you by the letter P for Profits and the symbol $.  China Precision Steel, Inc. (NasdaqCM: CPSL) is without a doubt the highest probability runner here on the back of China commodity stocks ripping higher. Look at the charts of Sutor Technology Group Limited (NasdaqCM: SUTR) and China Direct Industries, Inc. (NasdaqGM: CDII).  Both stocks are ripping over the last week and well on their way to 50% or more gains.  

    China Precision Steel, Inc. is in the right sector being: Steel.  Look at steel stocks like United States Steel (NYSE: X) on the charts.  This stock has soared as well.  The last arena to conquer for a short term swing trade is China steel plays.  With most of them already running, the last one is China Precision Steel, Inc.  While it trades at $2.25 I have accumulated here and below over the last week in anticipation of this eventual run.  Time will tell if I am right but with the moves in SUTR and CDII, I think it is a ticking time bomb.  Of course this is just my humble opinion.

    The sympathy play is one of my favorite high percentage plays that I utilize. I am giving it an extreme upside bias with a target at $2.75.  However, I do believe it has a high probability of getting over $3.00.  I will look to start taking profits as it gets into the target area.

    Gareth Soloway
    Chief Market Strategist
    InTheMoneyStocks.com
    By Chief Market Strategist Gareth Soloway on January 7th, 2010 11:48am Eastern Time

    $2.50 - $3.88



    $1.20 - $2.36



    $2.10 - ???
    Stocks: CPSL, SUTR, CDII.OB
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