> FUQI is grossly overpriced at $12. Remember this stock came from $1 to
> nearly $32 in 6 months in 2009. Despite the aggressive analyst
> opinions (including Oppenheimer targeting $40) it dropped to $15 and
> id bouncing between $16-$20 since then without any scandal - up until
> two days ago. Cutting the Q4 earning forecast by nearly 50% due to a
> potential fraud is big. That alone justifies the stock price to be
> between $9-10. I am quite surprised that it is holding $12  (I find it
> hard to believe that misstatement for the first two quarters is only
> 20 cents of $1.35 per share).

> It has the potential to trade below $7 given the size of the scandal,
> if it's determined to be fraud, rather than "error". What are the
> chances FUQI hitting $16 again any soon, IMO, very low. Downside on
> the other hand is quite higher. At best it will stall for a while. all
> IMHO. Intra day short opportunity with tight stops.

> On Mar 18, 11:38 am, Sleddawg63 <sleddaw...@gmail.com> wrote:

> > I have a BUY ON STOP order in for 12.65.  I can't see this stock
> > sitting in this perpetual 12.00-12.20 range forever...I look to either
> > catch the upswing or be protected from a fall should more bad news
> > come out.

> > Anyone else with a strategy?

> > On Mar 18, 10:45 am, yang0068 <yang0...@gmail.com> wrote:

> > > per subject- Hide quoted text -

> - Show quoted text -

> I have a BUY ON STOP order in for 12.65.  I can't see this stock
> sitting in this perpetual 12.00-12.20 range forever...I look to either
> catch the upswing or be protected from a fall should more bad news
> come out.

> Anyone else with a strategy?

> On Mar 18, 10:45 am, yang0068 <yang0...@gmail.com> wrote:

> > per subject

> They also missed terribly on the recent earnings.  Next in lline will
> be an avalanche of earning's revisons to the down side, and down
> grades.  The truth of the matter is that it's actually hard to screw
> up this bad, and call it an accident.  Usually companies are punished
> harshly for this, as funds will wipe them off their books.  Funds do
> not like management that they can't trust, and they also don't like
> inept managment.  One big question is how their most recent forecast
> was off more than 50%?  What they hell is wrong wth these guys.
> Still, an over reaction play is simple.  Let price move through
> yesterday's high, and grab it with a stop beneath yesterday's low.  A
> gap fill would be an excellent percent gain, even half a gap fill.

> On Mar 17, 9:40 am, Exit <exiton...@gmail.com> wrote:

> > Point taken. There is an opportunity here which presents itself with
> > some risks.

> > Is this the only problem with FUQI or are there other problems? That's
> > the pending question. I expect some wild moves in either direction.
> > Buckle up

> > On Mar 17, 5:58 am, Sleddawg63 <sleddaw...@gmail.com> wrote:

> > > Very fine line between opportunity and fraud.  Corrected earnings
> > > happen all the time...sometimes to very good and responsible
> > > companies.  At times revisions are adjusted up...so mistakes
> > > happen...and they can happen both ways.

> > > I am siding with a mistake here.  We need to admit that we are more
> > > nervous as this is a foreign company and I believe the market has over
> > > reacted.  Even with a downward revision of 19 cents, the PE is still
> > > 7.  You can draw your own conclusions and but I see an opportunity
> > > here.

> > > On Mar 17, 5:17 am, Coert <coert...@gmail.com> wrote:

> > > > Now, I might be naive, but could it be just incompetence (not sure if
> > > > that is any better)?

> > > > And if the new numbers are correct they still have a P/E of around 14
> > > > with a $20 stock price.

> > > > On Mar 17, 1:06 am, Exit <exiton...@gmail.com> wrote:

> > > > > It looks like a revenue fraud.

> > > > > What a f**k up. So this was really too good to be true. No wonder why
> > > > > it didn't surge for months despite a P/E of 7.

> > > > > On Mar 16, 5:52 pm, Coert <coert...@gmail.com> wrote:

> > > > > > From their press release:

> > > > > > As a result of the findings of the 2009 Sarbanes-Oxley Section 404
> > > > > > audit, thus far, the Company identified certain accounting errors that
> > > > > > are expected to have a material impact on the previously issued
> > > > > > quarterly financial statements for the first three quarters of 2009.
> > > > > > Management and the accounting personnel require additional time to
> > > > > > evaluate such effects on the previously filed quarterly financial
> > > > > > statements of 2009. Because the review is still underway, the Company
> > > > > > is unable to accurately estimate at this time the impacts on the
> > > > > > Company's interim financial statements for the first three quarters of
> > > > > > 2009. However, it is expected that as a result of the accounting
> > > > > > errors, the cost of sales for each of the periods were understated and
> > > > > > gross profit and net income, as a result, were accordingly overstated.
> > > > > > Based on the Company's latest estimate, the earnings per share
> > > > > > included in the previously issued financial statements for the nine
> > > > > > months ended September 30, 2009 were overstated by approximately $0.15-
> > > > > > $0.19 per share based on approximately 23.0 million weighted average
> > > > > > number of shares for the nine months ended September 30, 2009. The
> > > > > > foregoing estimate is based only upon preliminary information
> > > > > > available to the Company as of the date of this press release, is
> > > > > > subject to adjustment in connection with its ongoing review, and has
> > > > > > not been audited by its independent registered public accounting firm.
> > > > > > Due to the Company's ongoing internal analysis, the Company is
> > > > > > currently unable to provide estimated results of operations for the
> > > > > > year ended December 31, 2009. The Company will file its Annual Report
> > > > > > on Form 10-K as soon as possible; however, there can be no assurance
> > > > > > that the report will be filed within the extended 15 day deadline.

> > > > > > Mr. Chong continued, "We regret the delay and appreciate the patience
> > > > > > of our stockholders as the Company works to complete its financial
> > > > > > closing process. We take our responsibility to provide complete and
> > > > > > accurate financial information seriously and are taking proactive
> > > > > > steps that we believe are appropriate under these circumstances.
> > > > > > Although the Sarbanes-Oxley Act Section 404 compliance has been a
> > > > > > significant challenge for the Company, we believe our continuing
> > > > > > efforts to improve our internal control and human resources in
> > > > > > operational entities will make our Company stronger in the long term.
> > > > > > As a fast growing company, we remain focused that our operating entity
> > > > > > financial accounting infrastructure grows stronger and we are
> > > > > > committed to invest more resources in our internal auditing function
> > > > > > as well. We remain confident in the fundamental soundness of our
> > > > > > businesses and look forward to discussing our 2009 financial results
> > > > > > and developments for 2010 when we report our fourth quarter and full
> > > > > > year 2009 financial results."- Hide quoted text -

> > > > - Show quoted text -- Hide quoted text -

> > - Show quoted text -

> Point taken. There is an opportunity here which presents itself with
> some risks.

> Is this the only problem with FUQI or are there other problems? That's
> the pending question. I expect some wild moves in either direction.
> Buckle up

> On Mar 17, 5:58 am, Sleddawg63 <sleddaw...@gmail.com> wrote:

> > Very fine line between opportunity and fraud.  Corrected earnings
> > happen all the time...sometimes to very good and responsible
> > companies.  At times revisions are adjusted up...so mistakes
> > happen...and they can happen both ways.

> > I am siding with a mistake here.  We need to admit that we are more
> > nervous as this is a foreign company and I believe the market has over
> > reacted.  Even with a downward revision of 19 cents, the PE is still
> > 7.  You can draw your own conclusions and but I see an opportunity
> > here.

> > On Mar 17, 5:17 am, Coert <coert...@gmail.com> wrote:

> > > Now, I might be naive, but could it be just incompetence (not sure if
> > > that is any better)?

> > > And if the new numbers are correct they still have a P/E of around 14
> > > with a $20 stock price.

> > > On Mar 17, 1:06 am, Exit <exiton...@gmail.com> wrote:

> > > > It looks like a revenue fraud.

> > > > What a f**k up. So this was really too good to be true. No wonder why
> > > > it didn't surge for months despite a P/E of 7.

> > > > On Mar 16, 5:52 pm, Coert <coert...@gmail.com> wrote:

> > > > > From their press release:

> > > > > As a result of the findings of the 2009 Sarbanes-Oxley Section 404
> > > > > audit, thus far, the Company identified certain accounting errors that
> > > > > are expected to have a material impact on the previously issued
> > > > > quarterly financial statements for the first three quarters of 2009.
> > > > > Management and the accounting personnel require additional time to
> > > > > evaluate such effects on the previously filed quarterly financial
> > > > > statements of 2009. Because the review is still underway, the Company
> > > > > is unable to accurately estimate at this time the impacts on the
> > > > > Company's interim financial statements for the first three quarters of
> > > > > 2009. However, it is expected that as a result of the accounting
> > > > > errors, the cost of sales for each of the periods were understated and
> > > > > gross profit and net income, as a result, were accordingly overstated.
> > > > > Based on the Company's latest estimate, the earnings per share
> > > > > included in the previously issued financial statements for the nine
> > > > > months ended September 30, 2009 were overstated by approximately $0.15-
> > > > > $0.19 per share based on approximately 23.0 million weighted average
> > > > > number of shares for the nine months ended September 30, 2009. The
> > > > > foregoing estimate is based only upon preliminary information
> > > > > available to the Company as of the date of this press release, is
> > > > > subject to adjustment in connection with its ongoing review, and has
> > > > > not been audited by its independent registered public accounting firm.
> > > > > Due to the Company's ongoing internal analysis, the Company is
> > > > > currently unable to provide estimated results of operations for the
> > > > > year ended December 31, 2009. The Company will file its Annual Report
> > > > > on Form 10-K as soon as possible; however, there can be no assurance
> > > > > that the report will be filed within the extended 15 day deadline.

> > > > > Mr. Chong continued, "We regret the delay and appreciate the patience
> > > > > of our stockholders as the Company works to complete its financial
> > > > > closing process. We take our responsibility to provide complete and
> > > > > accurate financial information seriously and are taking proactive
> > > > > steps that we believe are appropriate under these circumstances.
> > > > > Although the Sarbanes-Oxley Act Section 404 compliance has been a
> > > > > significant challenge for the Company, we believe our continuing
> > > > > efforts to improve our internal control and human resources in
> > > > > operational entities will make our Company stronger in the long term.
> > > > > As a fast growing company, we remain focused that our operating entity
> > > > > financial accounting infrastructure grows stronger and we are
> > > > > committed to invest more resources in our internal auditing function
> > > > > as well. We remain confident in the fundamental soundness of our
> > > > > businesses and look forward to discussing our 2009 financial results
> > > > > and developments for 2010 when we report our fourth quarter and full
> > > > > year 2009 financial results."- Hide quoted text -

> > > - Show quoted text -- Hide quoted text -

> - Show quoted text -

> Very fine line between opportunity and fraud.  Corrected earnings
> happen all the time...sometimes to very good and responsible
> companies.  At times revisions are adjusted up...so mistakes
> happen...and they can happen both ways.

> I am siding with a mistake here.  We need to admit that we are more
> nervous as this is a foreign company and I believe the market has over
> reacted.  Even with a downward revision of 19 cents, the PE is still
> 7.  You can draw your own conclusions and but I see an opportunity
> here.

> On Mar 17, 5:17 am, Coert <coert...@gmail.com> wrote:

> > Now, I might be naive, but could it be just incompetence (not sure if
> > that is any better)?

> > And if the new numbers are correct they still have a P/E of around 14
> > with a $20 stock price.

> > On Mar 17, 1:06 am, Exit <exiton...@gmail.com> wrote:

> > > It looks like a revenue fraud.

> > > What a f**k up. So this was really too good to be true. No wonder why
> > > it didn't surge for months despite a P/E of 7.

> > > On Mar 16, 5:52 pm, Coert <coert...@gmail.com> wrote:

> > > > From their press release:

> > > > As a result of the findings of the 2009 Sarbanes-Oxley Section 404
> > > > audit, thus far, the Company identified certain accounting errors that
> > > > are expected to have a material impact on the previously issued
> > > > quarterly financial statements for the first three quarters of 2009.
> > > > Management and the accounting personnel require additional time to
> > > > evaluate such effects on the previously filed quarterly financial
> > > > statements of 2009. Because the review is still underway, the Company
> > > > is unable to accurately estimate at this time the impacts on the
> > > > Company's interim financial statements for the first three quarters of
> > > > 2009. However, it is expected that as a result of the accounting
> > > > errors, the cost of sales for each of the periods were understated and
> > > > gross profit and net income, as a result, were accordingly overstated.
> > > > Based on the Company's latest estimate, the earnings per share
> > > > included in the previously issued financial statements for the nine
> > > > months ended September 30, 2009 were overstated by approximately $0.15-
> > > > $0.19 per share based on approximately 23.0 million weighted average
> > > > number of shares for the nine months ended September 30, 2009. The
> > > > foregoing estimate is based only upon preliminary information
> > > > available to the Company as of the date of this press release, is
> > > > subject to adjustment in connection with its ongoing review, and has
> > > > not been audited by its independent registered public accounting firm.
> > > > Due to the Company's ongoing internal analysis, the Company is
> > > > currently unable to provide estimated results of operations for the
> > > > year ended December 31, 2009. The Company will file its Annual Report
> > > > on Form 10-K as soon as possible; however, there can be no assurance
> > > > that the report will be filed within the extended 15 day deadline.

> > > > Mr. Chong continued, "We regret the delay and appreciate the patience
> > > > of our stockholders as the Company works to complete its financial
> > > > closing process. We take our responsibility to provide complete and
> > > > accurate financial information seriously and are taking proactive
> > > > steps that we believe are appropriate under these circumstances.
> > > > Although the Sarbanes-Oxley Act Section 404 compliance has been a
> > > > significant challenge for the Company, we believe our continuing
> > > > efforts to improve our internal control and human resources in
> > > > operational entities will make our Company stronger in the long term.
> > > > As a fast growing company, we remain focused that our operating entity
> > > > financial accounting infrastructure grows stronger and we are
> > > > committed to invest more resources in our internal auditing function
> > > > as well. We remain confident in the fundamental soundness of our
> > > > businesses and look forward to discussing our 2009 financial results
> > > > and developments for 2010 when we report our fourth quarter and full
> > > > year 2009 financial results."- Hide quoted text -

> > - Show quoted text -

> Now, I might be naive, but could it be just incompetence (not sure if
> that is any better)?

> And if the new numbers are correct they still have a P/E of around 14
> with a $20 stock price.

> On Mar 17, 1:06 am, Exit <exiton...@gmail.com> wrote:

> > It looks like a revenue fraud.

> > What a f**k up. So this was really too good to be true. No wonder why
> > it didn't surge for months despite a P/E of 7.

> > On Mar 16, 5:52 pm, Coert <coert...@gmail.com> wrote:

> > > From their press release:

> > > As a result of the findings of the 2009 Sarbanes-Oxley Section 404
> > > audit, thus far, the Company identified certain accounting errors that
> > > are expected to have a material impact on the previously issued
> > > quarterly financial statements for the first three quarters of 2009.
> > > Management and the accounting personnel require additional time to
> > > evaluate such effects on the previously filed quarterly financial
> > > statements of 2009. Because the review is still underway, the Company
> > > is unable to accurately estimate at this time the impacts on the
> > > Company's interim financial statements for the first three quarters of
> > > 2009. However, it is expected that as a result of the accounting
> > > errors, the cost of sales for each of the periods were understated and
> > > gross profit and net income, as a result, were accordingly overstated.
> > > Based on the Company's latest estimate, the earnings per share
> > > included in the previously issued financial statements for the nine
> > > months ended September 30, 2009 were overstated by approximately $0.15-
> > > $0.19 per share based on approximately 23.0 million weighted average
> > > number of shares for the nine months ended September 30, 2009. The
> > > foregoing estimate is based only upon preliminary information
> > > available to the Company as of the date of this press release, is
> > > subject to adjustment in connection with its ongoing review, and has
> > > not been audited by its independent registered public accounting firm.
> > > Due to the Company's ongoing internal analysis, the Company is
> > > currently unable to provide estimated results of operations for the
> > > year ended December 31, 2009. The Company will file its Annual Report
> > > on Form 10-K as soon as possible; however, there can be no assurance
> > > that the report will be filed within the extended 15 day deadline.

> > > Mr. Chong continued, "We regret the delay and appreciate the patience
> > > of our stockholders as the Company works to complete its financial
> > > closing process. We take our responsibility to provide complete and
> > > accurate financial information seriously and are taking proactive
> > > steps that we believe are appropriate under these circumstances.
> > > Although the Sarbanes-Oxley Act Section 404 compliance has been a
> > > significant challenge for the Company, we believe our continuing
> > > efforts to improve our internal control and human resources in
> > > operational entities will make our Company stronger in the long term.
> > > As a fast growing company, we remain focused that our operating entity
> > > financial accounting infrastructure grows stronger and we are
> > > committed to invest more resources in our internal auditing function
> > > as well. We remain confident in the fundamental soundness of our
> > > businesses and look forward to discussing our 2009 financial results
> > > and developments for 2010 when we report our fourth quarter and full
> > > year 2009 financial results."- Hide quoted text -

> - Show quoted text -

> It looks like a revenue fraud.

> What a f**k up. So this was really too good to be true. No wonder why
> it didn't surge for months despite a P/E of 7.

> On Mar 16, 5:52 pm, Coert <coert...@gmail.com> wrote:

> > From their press release:

> > As a result of the findings of the 2009 Sarbanes-Oxley Section 404
> > audit, thus far, the Company identified certain accounting errors that
> > are expected to have a material impact on the previously issued
> > quarterly financial statements for the first three quarters of 2009.
> > Management and the accounting personnel require additional time to
> > evaluate such effects on the previously filed quarterly financial
> > statements of 2009. Because the review is still underway, the Company
> > is unable to accurately estimate at this time the impacts on the
> > Company's interim financial statements for the first three quarters of
> > 2009. However, it is expected that as a result of the accounting
> > errors, the cost of sales for each of the periods were understated and
> > gross profit and net income, as a result, were accordingly overstated.
> > Based on the Company's latest estimate, the earnings per share
> > included in the previously issued financial statements for the nine
> > months ended September 30, 2009 were overstated by approximately $0.15-
> > $0.19 per share based on approximately 23.0 million weighted average
> > number of shares for the nine months ended September 30, 2009. The
> > foregoing estimate is based only upon preliminary information
> > available to the Company as of the date of this press release, is
> > subject to adjustment in connection with its ongoing review, and has
> > not been audited by its independent registered public accounting firm.
> > Due to the Company's ongoing internal analysis, the Company is
> > currently unable to provide estimated results of operations for the
> > year ended December 31, 2009. The Company will file its Annual Report
> > on Form 10-K as soon as possible; however, there can be no assurance
> > that the report will be filed within the extended 15 day deadline.

> > Mr. Chong continued, "We regret the delay and appreciate the patience
> > of our stockholders as the Company works to complete its financial
> > closing process. We take our responsibility to provide complete and
> > accurate financial information seriously and are taking proactive
> > steps that we believe are appropriate under these circumstances.
> > Although the Sarbanes-Oxley Act Section 404 compliance has been a
> > significant challenge for the Company, we believe our continuing
> > efforts to improve our internal control and human resources in
> > operational entities will make our Company stronger in the long term.
> > As a fast growing company, we remain focused that our operating entity
> > financial accounting infrastructure grows stronger and we are
> > committed to invest more resources in our internal auditing function
> > as well. We remain confident in the fundamental soundness of our
> > businesses and look forward to discussing our 2009 financial results
> > and developments for 2010 when we report our fourth quarter and full
> > year 2009 financial results."

> 这个股票太undervalued, 卖的确实是傻逼!

> From their press release:

> As a result of the findings of the 2009 Sarbanes-Oxley Section 404
> audit, thus far, the Company identified certain accounting errors that
> are expected to have a material impact on the previously issued
> quarterly financial statements for the first three quarters of 2009.
> Management and the accounting personnel require additional time to
> evaluate such effects on the previously filed quarterly financial
> statements of 2009. Because the review is still underway, the Company
> is unable to accurately estimate at this time the impacts on the
> Company's interim financial statements for the first three quarters of
> 2009. However, it is expected that as a result of the accounting
> errors, the cost of sales for each of the periods were understated and
> gross profit and net income, as a result, were accordingly overstated.
> Based on the Company's latest estimate, the earnings per share
> included in the previously issued financial statements for the nine
> months ended September 30, 2009 were overstated by approximately $0.15-
> $0.19 per share based on approximately 23.0 million weighted average
> number of shares for the nine months ended September 30, 2009. The
> foregoing estimate is based only upon preliminary information
> available to the Company as of the date of this press release, is
> subject to adjustment in connection with its ongoing review, and has
> not been audited by its independent registered public accounting firm.
> Due to the Company's ongoing internal analysis, the Company is
> currently unable to provide estimated results of operations for the
> year ended December 31, 2009. The Company will file its Annual Report
> on Form 10-K as soon as possible; however, there can be no assurance
> that the report will be filed within the extended 15 day deadline.

> Mr. Chong continued, "We regret the delay and appreciate the patience
> of our stockholders as the Company works to complete its financial
> closing process. We take our responsibility to provide complete and
> accurate financial information seriously and are taking proactive
> steps that we believe are appropriate under these circumstances.
> Although the Sarbanes-Oxley Act Section 404 compliance has been a
> significant challenge for the Company, we believe our continuing
> efforts to improve our internal control and human resources in
> operational entities will make our Company stronger in the long term.
> As a fast growing company, we remain focused that our operating entity
> financial accounting infrastructure grows stronger and we are
> committed to invest more resources in our internal auditing function
> as well. We remain confident in the fundamental soundness of our
> businesses and look forward to discussing our 2009 financial results
> and developments for 2010 when we report our fourth quarter and full
> year 2009 financial results."

> 这个股票太undervalued, 卖的确实是傻逼!