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7 Chinese ADRs That Are on Fire Right Now - views
CHARLOTTE, N.C. (Stockpickr) -- Chinese American depositary receipts were up big yesterday -- China New Borun (BORN) ran up 127%, for example -- while the market was down 1%. This tells me that the Chinese ADRs are on fire!
Here is a short list of stocks to watch for some very quick daytrades or swingtrades to the upside. Remember, the first leg of the move had BORN up 127%. The second leg could bring another big move, up to 80% for BORN -- and that could happen today!
China Finance Online (JRJC) gained 10% yesterday. Look for 5% to 10% more upside.
Mecox Lane Limited (MCOX) gained more than 13% yesterday. Look for 20% more upside.
Daqo New Energy (DQ) gained more than 13% yesterday. Look for 4% more upside.
VisionChina Media (VISN) gained almost 50% yesterday. Look for 20% more upside.
China Techfaith Wireless Communication Technology (CNTF) gained 16.5% yesterday. Look for 5% more upside.
Tri-Tech Holding (TRIT) gained 36% yesterday. Look for 10% more upside.
These are the best of the best Chinese ADR names I could find that weren't too thinly traded.
At the time of publication, author was not long any stocks mentioned.
Trader Ben Brinneman, featured on MarketWatch, Bloomberg and Reuters, resides in Charlotte, N.C., and is the owner of C Squared Trading. Brinneman started his career trading bonds and was an analyst for a wealth management firm. Brinneman and his team at C Squared Trading have taught hundreds in a one-on-one mentorship setting via Skype or live in Charlotte.
You can follow some of their free trades and tips on Twitter at @csquaredtrading.