SINA, SOHU, NTES Those cows? Fared very well, even better than BEAS yet as every bear flag rally is shorted and June puts in play (as were Feb/March April and May before) SOHU and NTES were long term shorts before now they are short term shorts until the inevitable next breakdown. 18.50 was our area of breakdown for SOHU and NTES down from 55 to 35, we certainly can't complain here our short area was 40-41 (long upper tails signifying a close well below the highs. This bear flag was shorter than usual as NTES is a solid short play. Didn't do SINA. My fifth target for NTES is 35 and I expect we'll get it. SOHU even worse but at 15 it pulled back quite nicely. We've been on the short with SOHU aggressively since its earnings report. Now it will probably retest 15.
Its always best to get them short at the highs, now that these blimps are groveling at the lows I use the weekly charts. You need to look at the big picture, TASR had 2 good days before returning to its original 'status' of stagnant to shorting intraday rallies. Every company that gets shot down like these, have their occasional day(s) in the sun. There is a generally agreed upon area of resistance that MUST ULTIMATELY be reached before we can consider these plays anything other than just another small bear flag in a much strong downtrend.
Not much interested in techs or chinese nets' or other nets just yet for that matter. Prefer value stocks with low p/e and good growth levels going foward, those that moved up had their "old" growth levels priced in and they got shot down one by one.
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