CSKI - Another Quarter

Seems like just yesterday that CSKI announced year-end results and BAM! we have the first quarter. For some weird reason, no press release, but a note about a 10Q being filed (CHINA SKY ONE MEDICAL, INC. Files SEC form 10-Q, Quarterly Report).

I was pleased at the numbers, amazingly they actually doubled their revenues from last year. They made 43 cents a share versus 26 cents a year ago. So far so good. Interestingly, the stock didn't trade after hours for quite a while thereafter. But they closed at $13.23 and the bid ask is 14.31/17.95 so I'd say look for a big pop tomorrow. The poor guy who has been bashing CSKI as an open short (China Sky's Reported Inventory Belies Its Stated Earnings and Sales) could get torched. Hard to feel sorry for him.

It looks like this week will be all China all the time for me. Of course CSKI just announced, but I believe CDII, KHD and CHCG announce tomorrow or Friday as well. KHD should be an interesting one. They got crushed last quarter when it turned out that their contractural wording was allowing customers to re-nege. But they have a mountain of cash and if they say things are starting to flatten or improve and they are still making money, this could be a $20 stock again instead of $9. I don't think CDII is on the list (for whatever reason) recently... probably market cap. But they trade at 56% of book value, they have cash, no debt and are expected to make money. Finally, people know I am long on CHCG... they are growing, making about 50 cents a share, have lots of cash and trade for a paltry $1.65. If they can somehow manage to get to $3, I will be able to buy the wifeola nice ring.

Final comment is TC, a stock I have had a solid double on. They are entirely a function of the price of Molydenium, which appears to be starting to rise again. They also have no debt and a nice mound of cash. They are around $8 but still have lots of upside if the price of M rises.