I like this stock because the pattern is really bullish, gap up with large volume. You should ride with the trend instead of fight against it. I bought in at around $87. I was surprise that now I've already gained some profits at the end of the day.
Look at today's volume. It's 3 times of average. The buyer must be a powerful institution.
what's the fundamental difference between today and yesterday? Is it some big guys suddenly recognizing QIHU's value?
IMO, QIHU's value is always there. It's just not realized by a big guy before today.
Too bad I have no position in QIHU right now, but have plenty of powder to establish new position. what should i do?
The Alibaba deal is highly likely just a rumor. A real news(not rumor) about Alibaba today is that it's releasing its own mobile app distribution platform in effort to compete against Tencent. If Alibaba does want to invest in Qihu, why is it building a duplicate product?
tiany whenever anyone utters the word 'Alibaba' markets listen and roar. Look at Yahoo. Ever Chinese stock was grossly higher today and it all points toward Alibaba despite a series of poor economic numbers out of China. I am a huge bull on many Chinse stocks but a rumor is a rumor and these stock WILL pullback. Many shorts covered today in many of these stocks and that really drove them late day. The shorts were really been pressuring these stocks lately and today they lost. Only natural as many are up 200% from a year ago. You are right on Alibaba. The reports I read said that they want to build a gaming platform, not buy into one...who knows but without confirmation I'm not chasing it. Look what happened when QIHU/AAPL was confirmed as not true! There will be plenty of time to buy her when and if they make that annoucement. These stocks have been looking for any excuse to rally and today we got it. I sold many positions and actually bought puts that exp. jan 18th so i have plenty of time to be right. I wrote calls on QIHU so i have not sold until Fridays close...
no but I know the stock better than most. $90 will be massive resistance. Sure if they confirm the Alibaba report then yes all bets off the table = over $100. All these stocks are up too much for the day. thats all. simple. I sold my calls..