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AGM will be held in August. I have never met him before. He is from HK but Novo seems to be growing well under his leadership. Q4 results will be the key - if it can hit US$4 million again, the market will re-rate the stock since it has the potential to generate around US$16 million profit a year. If so, then when its steel processing plant opens later this year and its scrap processing plants is operational in 2011, wouldn't its earnings BOOMZ !!!
Downside - keep an eye on steel and coal prices. If it dips, Novo will be hurt.
highrisk1 ( Date: 19-Apr-2010 13:12) Posted:
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thought that this counter would be another Z-obee......but not to be; still have to wait..wait wait......; grandmaster89, how do you find Dicky Wu...have you attended the AGM for Novo Group?
Haha I made good profit in the run up from late dec to early Jan (dual listing announced). Bought at 20.5 and sold at 25.5 cents. This company (being small) won't get much noticed from big funds till its free float and size increase. Dual Listing will increase its free float while continued earnings will allow the company to grow.
Retailers panicking and BBs will swallow slowly....you know the pattern...we seen it so many times. Should go down to 21-22 cents in the coming weeks. Before rebounding back to 24-25 cents. Seen this at least 3 times this year.
As a word of caution - Don't trade/contra this stock. Free Float is too small.
highrisk1 ( Date: 19-Apr-2010 09:19) Posted:
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This is what I mean.......when STI is bullish, this counter is stagnant; now when STI in red zone, this counter alos follow to the red zone......
what you expect the investors to feel? sigh.........
risktaker ( Date: 15-Apr-2010 06:04) Posted:
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highrisk1 ( Date: 15-Apr-2010 09:21) Posted:
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Again the BB is placing out sell order of 4,444 lots during matching period, but withdraw before matching period close.
Come on.....show us your guts, hold your order until close, I will take all..
How much unit have you bought, risktaker?
But as what Grandmaster89 has mentioned, it is an invesiting stock, not speculative........thumb ups for you......
I strongly support your statement :)
Its a Buy Call for Novo believe it or not :P
grandmaster89 ( Date: 15-Apr-2010 01:35) Posted:
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Dual Listing doesn't make a stock attractive. It is its under-lying business. Novo has a very profitable business and investors will realize it. The share price has been depressed because the company has been selling its treasury shares over the past 2 months in 3 batches to increase its free float thereby preventing the share price from moving upwards. A small free float and a small cap company generally means narrow price range. The company has recently sold all of its 36 million treasury shares at $0.23 so lets wait.
Looking forward to its FY result in 2 months time. A net profit of US$13 million hmmm haha !!! Meanwhile, if it submits its proposal to HKSE or acquire new assets, its share price will appreciate.
This stock is not for traders. If you can't hold, give it a miss.
SecretGarden ( Date: 15-Apr-2010 01:13) Posted:
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Daily trading vol not too low but traded in narrow price range....make it less attractive.
Company wasted it's efford to get dual list.....if the counter is traded in such a narrow price range!
Wasted my time to monitor this counter in past few weeks!
Great to see discipline trading been shared in this forum......china wind is very strong nowadays. China lovers can consider......because wave is coming.
Not vested......have no liking on cheatna counters...singapore counters are better.
Yeah, agree with your comment. Real disappointed. Bought at 0.255, cut my loss today at 0.245.
risktaker ( Date: 12-Apr-2010 21:01) Posted:
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