FUQI.PK Fuqi International: Selloff overdone

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	David Sachdev
	Washington, DC User since Dec 2009	39
Covers SINA MCP AAPL ARMH AKAM VMW SODA and 11 other stocks - Go to Blog
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Selloff overdone
So I'm not buying the stock, but I do think that the selloff is overdone most likely...we'll have to see what the restatement brings. I have picked up some Sept 12 call options. Of course this is money that I'm prepared to loose though. But I see it as a decent options play, and I may change this to a straddle position so that I'm covered on the downside as well.

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What People Are Saying...

David Sachdev said at 4/28/10 11:43 AM Price action was $10.81 +0.09 (+0.8%)

Adding to my Sept Call position here.

David Sachdev said at 7/26/10 2:26 PM Price action was $8.55 +0.41 (+5.0%)

Making a move the last few days...thinking that the revised filings will be made available soon.

Josh Warner-Burke said at 7/26/10 5:53 PM Price action was $8.50 +0.36 (+4.4%)

What does Fuqi do exactly?

David Sachdev said at 7/27/10 10:52 AM Price action was $8.23 -0.27 (-3.2%)

They are a Chineese Jewelry maker in China of fine and precious jewels, gold, platinum, etc that distrubutes to national distributors in China. They stated that they underreported costs assocaited with creating jewelry for a 9 month period and the stock fell from a high in the 30s. My investment here is on the bases of an oversold condition, and not a core long term holding.

David Sachdev said at 9/16/10 10:58 AM Price action was $7.19 1.05 (+17.1%)

I added a couple hundred shares here yesterday. It doesn't make up for the money I'm going to loose on my Sept call positions, but it sure does ease the pain a bit. 17% in a single day.

I'm hoping they get their act together in time so that my January options are good!

David Sachdev said at 9/29/10 11:23 AM Price action was $6.83 0.87 (+14.6%)

My options have been a big looser here, but the shares I bought at this stock's lows have done well. It is doing really well today - on it's last day to get it's filing in before possible bad NASDAQ consequences. I think somebody knows something here...and I'm hoping that I'm riding on their coat tails up.

David Sachdev said at 9/29/10 1:49 PM Price action was $6.65 0.69 (+11.6%)

:%/looser/loser/g

David Sachdev said at 9/29/10 1:50 PM Price action was $6.65 0.69 (+11.6%)

That is supposed to be:

:%s/looser/loser/g