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as many of you have followed, i have been buying $nep for awhile now, accumulating in the $3's all the way up to $4.70. this stock is so undervalued it's sick. the other day on cnbc's closing bell "this dude" brought up nep in this video above. check it out, he says that nep makes money at $15 oil, which might be off a little - my calculations are closer to $20.. but seriously, who cares? this is one of the basket of chinese stocks that i have been investing in, recently uplisted to the amex from the otc. the previous symbol was cneh for those of you who wish to do further research.
china northeast petroleum has a contract with the government of china. they are making money hand over fist, and when it starts to get out there it might be too late. i do recommend this as a long term play, my buy limit is currently $4.70. $3 was a gift from above, $4 is a steal, $5 is still a deal.
interesting to note, as soon as this appeared on cnbc the stock shot past $5.30 in the after hours. just goes to show how much power they still have as a network. just when will people realize that there are better ways to get investment ideas than cnbc?
anyways, just my opinion, keep checking back, and i'd love to hear your comments on this stock, good and bad. i'd also like to hear what the technical traders think. do your research, feel free to check out all of our research tools and get busy... good luck!
..oh p.s. for all you short term investors, on august 5th guess what nep is doing? check it out!
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