In early February, I wrote about Trina Solar Ltd. (NYSE/TSL) as being one of the hottest newly listed China stocks on the market. At that time, the stock was trading around $27.50 per share. Now, it’s trading around $50 per share with significant trading interest from institutional investors.
While the rest of the stock market isn’t currently doing anything, some China stocks are soaring.
Another stock I wrote about a few weeks ago was Solarfun Power Holdings Co. Ltd. (NASDAQ/SOLF). This stock is also doing great, just not as great as Trina Solar.
The stock market is an exciting arena for a speculator. When all the right elements come together, it’s great to watch a stock take off to the upside. Of course, this is the exception to the rule, as most stocks don’t distinguish themselves in the marketplace.
I just have to mention Huron Consulting (NASDAQ/HURN) once again. This company just reported excellent financial results (for a consulting firm), and the stock’s been doing exceptionally well. In fact, it’s now trading over $65 per share. The last time I wrote about this company in this column was just a few weeks ago. Then, the stock was trading at $55 per share. It just goes to show you that you can do well in any market, as long as you own the right stocks.
I have to say that I’m not all that fired up about the prospects for the broader stock market this year. Inflation and interest rate worries dominate, and now former Fed Chairman Greenspan is predicting a recession by year’s end. It’s no wonder the stock market is suffering from an identity crisis.
This is why your stock selections have to be very selective. You only want to speculate on the best stocks the market has to offer and those companies you feel comfortable with. As for the rest, you can’t expect a lot this year.