I have identified another company that is within the Chinese A-Share realm with a strong balance sheet and strong growth. This company is Longi Green Energy Tech.
Hi Rocketman, do you have any thoughts on current opportunity? There's so many things on sale and I'm thinking of entering Longi
Rocketman
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@Joeyismoney, A strong day like in the following picture is your signal to enter:
Joeyismoney
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@Rocketman, Thank you for the advice. I'll keep an eye on it tomorrow. Will give you an update on the results.
Are you eyeing any other tickers on the China stock exchange?
Rocketman
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@Joeyismoney, You can check my posts in tradingview. Some already hit their target. Jiangsu Hengrui is a good long-term investment. Look at a monthly or weekly chart. Its just a bit slow.
Be aware that 2020 or 2021 could be the end of the expansionary phase of the US business cycle. I made a vide on it.
(1) studio.youtube.com/video/UGD7QcdFhKY/edit (2) youtube.com/watch?v=deKhqcCq3k4
Joeyismoney
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@Rocketman, awesome - found the relevant videos and articles. Thanks alot. I'll definitely keep my eye on this ticker as well.
Rocketman
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@Joeyismoney, The UK's central bank was supposed to meet on March 26, 2020. The new chairman replacing Carney on the 16th was expecting to hold rates; however, their central bank held an emergency meeting last night (March 16, 2020). At this meeting they cut rates. This sends a clear message that this coronavius will, indeed, have a big impact on the world economy. However, we do not know yet if this event will be that catalyst that tips the US into recession or not (We knew that it is coming either in May or November of 2020 or February 2021.). I have closed several equity positions. I m waiting for Friday to see if the dust will clear, and then take appropriate action.
Joeyismoney
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@Rocketman, Noted. I'm feeling uneasy as well. However, I've started to look at picking up a large position in 600585, i've been eyeing this cement company for a long time. The financials look extremely attractive to me. I also anticipate this industry to be resilient with global governments will be looking to supper the economy with more spending on infrastructure. What are your thoughts on this?
Rocketman
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@Joeyismoney, The chart looks good. In fact, many Chinese stocks look good; however, I am not sure how markets of the "New China" behaves during a US recession (if this is it). So, I prefer to observe for now and take notes. Cash is an investment position too.
Joeyismoney
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@Rocketman, I agree. Even with gold sliding during times like this. I agree sitting back on the sidelines for now looks like a wise decision. I will take notes too, I have searched the community for Chinese stocks and it seems there are not many active on this area. It's really nice to know that you are following the chinese market too. As i've been in China for more than 5 years now but haven't been able to find any investment community to exchange thoughts and ideas
Rocketman
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@Joeyismoney, How's it going? Yes, You are not going to find any investment communities in China in the way you want. Most are not looking at the fundamentals and going after pennies.