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Panic buying in InterOil

May 1st, 2009 · No Comments

Stock up, high volume, what does it mean? Other stocks we follow also look quite perky. Let’s discuss…

InterOil. Up $3 on high volume. We say this. Three years watching, we have never seen significant news coming out that was not preceeded by significant stockprice movements (invariably pointing to the nature of the news). Will this be the exception? We wouldn’t count on it.. And what news could it be? Take your pick..

Manas. We recently suggested a speculative buy in the high 20s, so far, so good. But this is speculation on drilling outcomes, we keep stressing. Although we do favour the odds.

Fuqi International. Keeps going higher after we advised to buy at $5.20 a couple of weeks ago.

eFuture. We had a nice ride from $6.5 to $10.5 in a week, but our profit taking advice came too early, or so it seems. We expected some consolidation after the really very big movement up. The stock was heavily overbought and it still is. But it keeps getting higher.. Buy on dips, or wait for China stocks to pause.