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China Precision Steel, Inc. (CPSL)

May 26 2008

China Precision Steel, Inc. (CPSL)

    If you’re dying to be long and are looking for a speculative play for your portfolio, China Precision Steel had a great day of trading on Friday and the options action was also encouraging. The stock moved 12% higher on triple the volume as the company’s financials where released on EDGAR. June Call options in at the $7.50 and $10 strike price were strong with 1,369 and 1,135 options traded respectively. The one analyst that covers the small-cap steel processing company raised his earnings expectations in the current month from 0.06 to 0.07 and for the year from 0.24 to 0.37 this past week.

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