I've done a lot of business in China, and all serious business involves government in some way and in a very different way compared to here in AU if you get my drfit... I find it very hard to believe that they don't have government friends, so all this talk of the Chinese gov blocking them is really not correct in my view. It just means that a card in hand hasn't been played yet.
I wonder if someone is capping to get us to unload back to said someone in wait of a big move?
I'm so 50/50 on this stock. I could leave now make a reasonable profit and work this cash elsewhere, or stay on for a very risky punt (journeyman is right in saying, this stock is not an investment anymore, its a punt). I left the office today fuming at that 8c transaction, no one throws away 100,000 @0.5c less than market in cent stock IMO unless there is something shady a foot.
I'm officially changing my sentiment for anyone interested to Sell, unless you don't care about the cash you throw at this. And if you haven't bought yet, check this stock regularly but don't buy in unless you see it go rapidly up.
As I drone on, I think I am going to sell and take my modest earnings to something more promising. Something is very wrong here and I don't trust this stock after the manipulation this afternoon.
CMC Price at posting:
8.0¢ Sentiment: Sell Disclosure: Held