50 down or 30 up, puts are really expensive, whole world looking for major tankage from SCAMAZON!
Class your right about RENN, the company they were 2 years agow when they launched at 28 are not even close to what they have today.
1.5 Billion in Cash
Richest man in the entire country of China now on the RENN board of directors.
A groupon site better then groupon. Nuomi online TV site that reaches 285 million viewers, good tv they like is very difficult to see in China, An auction site, An Amazon site, A cell phone videogame site geared towards the newest best smartphones, (they even keep 4 out of the top 20 games constantly on the charts. RENN RENN china facebook but better, growing faster, better mobile technology and 35% logging in and starying on by CELL PHONE, this is huge. And perhaps most telling, they have 9 to 29 year old male and female locked up exclusively to RENN with 5 billion more online users to come online within the next 5 years!
And after the handover and change of power, the largest stimulus China has ever seen to jumpstart it and get it back going as well as the global economy. That is before 2012 or 1st week of it, if the new people in their have to talk about maybe going even bigger the the biggest ever, we are at the end of a 3 year slowdown in China and a 3 year downtrend in China stocks, frankly I am excited when Chen and his Billionaire Bulldog says they will not be happy "until RENN has a 100 Billion market cap minimum" He said his company is so underpriced and overlooked by Wall Street he feels insulted, I happen to agree with him!
If I told the board how many things I have gone without that I usually blow money on to get more long in Renn then I have any stock in the last 25 years, you would not believe me. I started buying stocks at 12 years old out of newsweek magazine and a fullservice broker, my 1st or second stock was biotechnology group that did not move for years, when it finally did wow.
I have plenty of money mainly due to the fact I got in Sina and Bidu at just the right times.
I am very short Amazon, instead of losing premiums and watching puts expire worthless for months till the big fall, I have chose to short Amzn and hold it for as long as I possibly can, if the market goes down as much as I think it could, I might cover 90 or 100, course that is with Amazon really screwing up and not just the market correction doing that.