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Ok now is time to sell ASIA shares (47% up!)

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deminvest

October 29, 2007

On Thursday ASIA Info announced excellent earnings results of $ 0.11 per shares. Analysts had expected $0.08 per shares. One would expect that the share price would go up with such good news… Well it didn’t happen after the announcement… because it happened right before. There were so many insider traders who knew about those results… that stock price went up 35% during the two days before earnings announcement!

Last week ago I decided not to sell My Asia Info shares to those insiders. Today, since results are published, I

sold 89 ASIA shares at $ 12.10 each casing in $1076.9 . I had bought 125 at $8.14 each spending $1017.5. So I made some extra cash and I still have 36 ASIA shares that I got for free and will try to hold forever.

Thanks once more, “Free stock strategy“!

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5 responses to “Ok now is time to sell ASIA shares (47% up!)”

Kevin

October 29, 2007

That is what creeps me out about China, I just don’t trust the government is doing anything about corruption and insider trading.

Reply
deminvest

October 29, 2007

Yes Kevin,

but I had a worse experience with an American company, VA Software (LNUX). LNUX “strangely” went up 57% in 7 days, before announcing its first positive earnings ever after years of losses.

I reported VA Software to the SEC for Insider Trading, but never got an answer. Here are my posts at the time:
https://deminvest.wordpress.com/category/lnux-va-software/

Reply
Kevin

October 29, 2007

Hopefully the SEC is looking into the matter. The SEC doesn’t make any comments about investigations, whether they are investigating them or not. If they are investigating then those rich people start throwing their lawyers at them. If they say they aren’t investigating and then they do go to court, the defense can say the SEC stated “my client was not the focus of the investigation.”

Too bad they are waisting those wire taps on terrorists. They should tap the phones of the suspected insider traders.

At least they are making statements that they will go after illegal insider trading.

http://www.wallstreetandtech.com/blog/archives/2007/10/sec_heightens_b.html

Reply
deminvest

October 30, 2007

Kevin, thanks for the very interesting link… Unfortunately reality seems very different from their statements. My experience with SEC was bad. A small company like VA software goes 57% up right before first earnings. I don’t think it is very hard to track down the buyers. We are not talking about GE.

A year has gone by and I wasn’t even questioned.

Reply
masteroftheuniverse

November 16, 2007

Nice trade.

Jeff

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We, small uneducated investors, will always be the last to know what is really happening. Trading this kind of stocks exposes us to the risk of becoming food for insider trading sharks, who do “somehow” know what is really happening

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Ok now is time to sell ASIA shares (47% up!)

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5 responses to “Ok now is time to sell ASIA shares (47% up!)”