Diary of A Day Trader© : April 15, 2011 "Say a Little Prayer For You, China Stocks:"
Seeking Alpha Analyst Since 2011
I love Aretha Franklin. In good times, her deep soulful intonation of "I Say a Little Prayer For You" frequently runs through my head..."Whenever I wake up, before I put on my make-up, I say a little prayer for you."
Well today I woke up, passed on the make-up, and said a little pagan prayer for the recovery of U.S. exchange-traded Chinese stocks. Like a beloved wayward child who's gone astray, I've watched them experience daily price carnage just about every trading day in recent memory. I could list dozens of ticker symbols on my "China Watchlist," all of which have fallen on extremely hard times. There is, indeed, blood in the streets of almost every company associated with Beijing.
Now, I'm sensing that at least for some issues, the bottom has been put in: FEEC, which I've talked about, is one of those. KONE may be another. LPH is a third. I now own stakes in all three. As well as a few hundred shares of BORN.
And the song plays on:
"Forever, forever, you'll stay in my heart
and I will love you
Forever, forever, we never will part
Oh, how I'll love you
Together, together, that's how it must be
To live without you
Would only be heartbreak for me."
P.S. That total gold turd KATX looks like a pretty low-risk play down here at a penny for its next inexplicable run higher. I'm accumlating.
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