House of Pain

Wow. I know JG said that it wouldn't always be easy. He said to give it 3-5 years. But I have dug a serious hole since mid-July. In just 2 short months I have gone from being about 5% above the benchmark to about 7% below (maybe I need to stop reading "Holes" with my son). I know deep inside that it can swing the other way in the next two months, so I keep "slip-sliding away". That's me, Rhymin' Simon.

The past two days have seen CHCG get placed into the House of Pain. Here is the 1 month graph:

1d 5d 1m 3m 6m 1y 5y Max

Man, that is brutal. The slide in the past two days was caused by investors (China 3C Group Says Previously Announced Financing Terminated) who had agreed to buy 11.7m of stock at $5.50 backed out when the stock went to $5. Now just because potential investors backed out on a deal anyone would back out on (why buy stock at $5.50 when it is selling in open market for $5?), the market sold off, driving the stock as low at $2.77 today.

CHCG send out a press release today basically re-affirming that the sky is not falling (China 3C Says Business Operations Running Well; Company to Comment Further Next Week). This was very weird as they said they'll expand more fully next week, but that this is a Jewish holiday. I suppose there a Jews in China. And I suppose Chinese are more patient than American investors and can wait a week to get updated. I have to believe that at $3.45 this is a buying opportunity, but please do your own due diligence. The stock did bounce back after that release (around 2:30) as you can see below:

1d 5d 1m 3m 6m 1y 5y Max

Of course while CHCG these past two days has done its best to imitate the Titanic, the rest of my portfolio has at best sputtered along, even on a solid green day.

Reminds me of a song from "On the Town"

This day was just a token,
Too many words are still unspoken.
Oh, well, we'll catch up
Some other time.

Probably best to leave it on that phrase, "we'll catch up, some other time"