Friday, July 17, 2009

How to buy stock in BYD Car Company

I see this blog has been getting a lot of traffic these days. I also have watched the daily volume for BYD Car Company move upward at a steady pace. The stock used to trade in the $1 to $2 range. Today it closed in the mid $5 range.

If you want to research this stock you have to look under the ticker BYDDF or BYDDF.PK. Don't confuse BYD Car Co with BYD Gaming Corp which has the ticker "BYD".

Any broker in the USA can buy these share for you under the ticker BYDDF.PK.

I started buying shares at around $2 each. I have been buying as the price has moved up. More than price I watch the volume. When I first learned of this stock after reading a story about Buffet buying it I have been watching the volume. The ave daily volume used to be 100,000 shares a day or less. Today the volume topped 900,000 shares.

I now have about 5,000 shares of BYDDF. I think I will hold at this level for now. If the price breaks into the $6 range and stays there a few days I will buy more.

Bottom line to me is this - BYD car company is on the tip of the spear when if comes to electric cars. I think they will be the first to market. Once BYD gains permission to sell into the USA this stock will explode. Think about it.. how many people would buy a low priced electric car? Made is China does not carry as negative a meaning it once did.. Face it - some things are made BETTER in China. Who knows what the BYD Cars will be like but I am not taking the chance on missing out on this stock.

Ask yourself this - Why did Warren Buffet buy 10% of this company?? and a little known fact that I read is that good old Warren wanted to buy 25% of BYD but the CEO would only sell him 10%.

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